Zomato Parent Eternal Shares Surge on Strong Q3 Results, Brokerages Bullish

• Eternal Ltd (Zomato's parent) shares jumped over 6% after strong December-quarter performance, reaching Rs 301.65.
• The company reported a 73% YoY increase in consolidated net profit to Rs 102 crore and revenue of Rs 16,315 crore, driven by quick commerce.
• Blinkit achieved adjusted EBITDA profitability of Rs 4 crore, marking a significant turnaround from previous losses.
• Motilal Oswal issued a 'buy' call with a target price of Rs 360, citing market leadership in quick commerce and food delivery.
• CLSA, Jefferies, HSBC, and Nomura also maintained 'buy' ratings, highlighting Blinkit's profitability and food delivery growth.

Why It Matters: Eternal's strong Q3 results, especially Blinkit's profitability, are driving investor confidence and positive brokerage outlooks.