Eternal Shares Surge 7% After Q3 Results; CLSA Raises Target Price

• CLSA increased Eternal's target price to 506 rupees, maintaining an "outperform" rating, following strong Q3 results.
• Eternal's consolidated net profit jumped 72.88% year-on-year to 102 crore rupees in Q3 FY25, with revenue soaring to 16,315 crore rupees.
• Founder Deepinder Goyal stepped down as CEO, with Blinkit CEO Albinder Dhindsa taking over; Goyal will serve as Vice Chairman.
• Jefferies, HSBC, and Nomura also maintained "Buy" ratings, citing Blinkit's positive EBITDA and overall strong performance.
• Eternal's shares rallied 7% to 304.20 rupees, pushing market cap above 2.84 lakh crore rupees; 30 out of 33 analysts recommend "Buy".

Why It Matters: Eternal's strong Q3 results and leadership change led to a 7% stock surge and raised target prices from brokerages.