Goldman Sachs Sells Eternal Shares Worth INR 267 Cr

SUMMARY

As per NSE data, Goldman Sachs sold the shares at INR 325.50 apiece, a discount of 1% compared to the stock’s last close of INR 328.95 on Wednesday

Last week, the investor sold 9.52 Lakh Eternal shares to Morgan Stanley in a block deal at INR 332.25 apiece, netting INR 31.6 Cr from the deal

The development comes at a time when Eternal shares have been on an upswing, growing nearly 19% on a year-to-date (YTD) basis

Financial services giant Goldman Sachs today sold 82 Lakh shares of the foodtech giant Eternal in a block deal worth INR 266.9 Cr.

As per NSE data, Goldman Sachs sold the shares at INR 325.50 apiece, a discount of 1% compared to the stock’s last close of INR 328.95 on Wednesday. The shares that flooded the market were lapped up by Bank of America (BofA) Securities.

This is the second time that the financial services giant has sold a stake in the foodtech major. On September 26, the investor sold 9.52 Lakh Eternal shares to Morgan Stanley in a block deal at INR 332.25 apiece, netting INR 31.6 Cr from the deal.

The development comes at a time when Eternal shares have been on an upswing. On September 22, the stock touched a fresh all-time high of INR 343.95. The company’s shares have zoomed nearly 19% on a year-to-date (YTD) basis.

The uptick comes on the back of a slew of brokerage firms giving thumbs up to the company. Notably, Goldman Sachs reiterated its ‘Buy’ rating on Eternal earlier in September and raised the price target (PT) of the company’s stock to INR 360 from INR 340 earlier.

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

Earlier in July, ICICI Securities also estimated that Blinkit maintained its lead in the quick commerce race in Q1 FY26. As per the brokerage, Eternal’s Blinkit saw its gross order value rise 25% sequentially during the quarter, while Swiggy’s Instamart clocked a 22% QoQ growth in Q1 FY26.

That said, saturation in the food delivery segment and quick commerce wars continue to eat into Eternal’s bottomline.

The company’s consolidated net profit plunged over 90% to INR 25 Cr in Q1 FY26 from INR 253 Cr in the year ago quarter. This came even as the company’s operating revenue surged over 70% to INR 7,167 Cr during the quarter under review from INR 4,206 Cr in Q1 FY25.

Note: The story has been updated to correct the number of shares sold.