Goldman Sachs Dumps More Eternal Shares Worth INR 266 Cr

SUMMARY

As per NSE data, Goldman Sachs Bank Europe Se-ODI sold the shares at INR 328.45 apiece, a 2% discount from the stock’s last closing price of INR 335.05

The shares that flooded the market were lapped up by BofA Securities Europe SA

With this, Goldman Sachs has netted INR 900 Cr+ from four Eternal block deals in the last month alone

Financial services company Goldman Sachs has sold yet another 8.1 Cr shares in Zomato’s parent Eternal in a block deal worth INR 266.1 Cr.

As per NSE data, Goldman Sachs Bank Europe Se-ODI sold the shares at INR 328.45 apiece, a 2% discount from the stock’s last closing price of INR 335.05.

The entirety of the shares were lapped up by BofA Securities Europe SA.

This marks the fourth instance of Goldman Sachs paring its stake in Eternal in the past month. While it sold 8.2 Cr shares worth INR 266.9 Cr to Morgan Stanley on October 1, it sold shares worth INR 355.3 Cr to BofA Securities on October 4. The financial services major also offloaded its stake worth INR 36.1 Cr to Morgan Stanley last month.

In total, the investor has seen a windfall of INR 924.3 Cr from the block deals in the last month. Important to note that Goldman Sachs didn’t hold more than 1% stake in the company at the end of June, as per data on BSE and NSE.

In parallel with its stake offloading spree, the investor’s brokerage arm reiterated its ‘Buy’ rating on Eternal earlier in September and raised the stock’s price target (PT) to INR 360 from INR 340 earlier.

In its note on September 18,it highlighted the growth potential of its quick commerce arm Blinkit as its key reason behind increasing the PT.

The positive brokerage notes have led to a bull run for Eternal’s stock prices in recent weeks. The company’s shares touched an all-time high of INR 343.95 on September 22. On a year-to-date basis, the company’s shares have gained over 21%.

On the financial front, the company’s consolidated net profit plunged over 90% to INR 25 Cr in Q1 FY26 compared to INR 253 Cr in the year ago quarter. This came despite its operating revenue zooming over 70% to INR 7,167 Cr during the quarter under review from INR 4,206 Cr in Q1 FY25.