Eternal Share Price Hits a Record High at Rs 372: IPO Investors Sit on 375% Gains, but a Q2 Profit Miss, a 135x P/E and Blinkit Cash Burn Need a Closer Look
- November 11, 2026
- Posted by: Chaitanya Auti
- Category: News
Eternal hit a record Rs 372.10 on 11 Nov 2026, closing near Rs 361; about 375% above the Rs 76 IPO price (my arithmetic). Q2 FY27 profit Rs 125 cr missed estimates.
Quick Answer
The Eternal share price touched a record high of Rs 372 on 11 Nov 2026 and closed near Rs 361, about 375% above the Rs 76 IPO price (my arithmetic). Q2 FY27 profit of Rs 125 crore missed estimates; valuation stays very high.
The Eternal share price touched a record high of Rs 372 on 11 November 2026 and closed near Rs 361, which is about 375% above the Rs 76 issue price of the July 2021 IPO. Investors who bought the Zomato IPO and held on are sitting on a large gain, but the question for new buyers is different: what has the stock priced in? This note sets out the price data, the Q2 FY27 results, the brokerage targets and the risks, without recommending any security.
Prices below are time-stamped to market data pages on 11 November and can differ by a few rupees across sources. The live quote and index context are on NSE and BSE. The stock has risen with a strong market, as the Nifty 50 and Sensex hit an eight-month high on the same day.
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Eternal Share Price: Record High and IPO Return
| Item | Figure | Source note |
|---|---|---|
| Eternal record high | Rs 372.10 intraday on 11 November 2026 | Dhan and Bajaj Broking; earlier record Rs 368.40 on 16 October 2025 |
| Eternal share price: close on 11 November | About Rs 361 (down about 1%) | NewsBytes; a data page shows Rs 361.60 at 2:49 pm |
| Eternal share price: IPO issue price | Rs 76 (listed 23 July 2021) | Business Standard IPO page |
| Eternal share price: gain over IPO price | About 375% at Rs 361 | My arithmetic: (361 minus 76) divided by 76 |
| Eternal share price: gain in 2026 so far | About 30% | NewsBytes |
| Eternal share price: 52-week low | Rs 212.60 (16 March 2026) | Univest data |
| Eternal share price: market capitalisation | About Rs 3.5 lakh crore | Bajaj Broking and Kotak Neo pages |
The headline return depends on the price used: at the Rs 372 high the gain over the IPO price is about 389% by my arithmetic, and at the Rs 361 close it is about 375%. The stock also rose about 12% in the last month and 41.8% in six months, per a Kotak Neo page, so a lot of the move is recent. The previous record of Rs 368.40 stood for about a year, so the stock has taken a long time to clear its old peak.
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Eternal Q2 FY27 Results and What Drives the Stock
| Measure | Q2 FY27 | Comparison |
|---|---|---|
| Eternal share price: revenue from operations | Rs 24,138 crore | Up 77.6% from Rs 13,590 crore |
| Eternal share price: net profit | Rs 125 crore | Up 92.3% from Rs 65 crore; analysts expected Rs 250 crore to Rs 271 crore |
| Eternal share price: adjusted EBITDA | Rs 666 crore | Up 197%; another report cites EBITDA of Rs 752 crore on a different basis |
| Eternal share price: blinkit net order value | Rs 20,940 crore | Up 79.3% year on year and 22.2% from Q1 |
| Record high: blinkit adjusted EBITDA | Rs 184 crore | Against a loss of Rs 156 crore a year earlier |
| Record high: blinkit store plan | More than 3,500 by March 2027 | About 5,000 by March 2028 |
Quick commerce is the engine: Blinkit revenue was Rs 19,152 crore of the group total, and its adjusted EBITDA has improved for six quarters in a row. The profit miss came from higher delivery, employee and depreciation costs, and the cash balance fell by Rs 1,813 crore to Rs 16,475 crore as Blinkit built inventory ahead of the festive season. The Eternal share price fell about 3.5% after results on 21 October, which shows how sensitive the stock is to a miss.
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Brokerage Targets and Valuation Check
| View | Target or reading | Date and note |
|---|---|---|
| Record high: kotak Neo | Buy, target Rs 435 | 11 November, per NewsBytes |
| Record high: jefferies | Base case Rs 430; upside case Rs 520 | 5 November, per Business Standard |
| Record high: motilal Oswal | Rs 380 in one report; Rs 400 after Q1 | Reports differ; check the latest note |
| Record high: macquarie | Cautious on valuation | After Q2 results |
| Eternal share price: trailing P/E | About 135x on one page and about 700x on others | Different data providers and earnings bases |
| Record high: price to book | About 11x to 40x | The pages differ; check the filing |
Targets are opinions, and they differ by the date and the method used. The P/E figures range widely because trailing earnings are small relative to the price, so the multiple says more about expected growth than about current profit. Univest’s own data pages show a trailing P/E near 700x and a price to book of about 11x on 5 November, while another page shows 135x and 39.8x, so the figures are not comparable until you check which earnings base each uses.
Checklist and Risks
| Investor situation | Questions to consider |
|---|---|
| Record high: existing holder since the IPO | Is the gain large enough to change my position size, and is the stock still in line with my plan? |
| Record high: new investor | Have I read the Q2 filing and the Blinkit margin targets, not only the record-high headline? |
| Record high: short-term trader | Can I handle a swing if the next quarter misses estimates again? |
| Record high: long-term investor | Does the valuation fit my time horizon and risk limit? |
The main risks are competition in quick commerce and food delivery, Blinkit capital spending and inventory build, a further profit miss, a premium valuation that leaves little room for error and a market-wide reversal. Univest does not recommend any security.
Conclusion
The Eternal share price hit a record Rs 372 on 11 November 2026 and closed near Rs 361, about 375% above the IPO price. Q2 revenue grew 77.6%, but profit of Rs 125 crore missed estimates and valuation is very high. Read the filings and consult a SEBI-registered adviser before acting.
Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
Frequently Asked Questions on the Eternal Share Price
What is the Eternal share price record high?
Ans. Eternal touched Rs 372.10 intraday on 11 November 2026, beating the earlier record of Rs 368.40 set on 16 October 2025. It closed near Rs 361, about 1% lower.
How much have IPO investors gained?
Ans. The IPO price was Rs 76 in July 2021. At the Rs 361 close the gain is about 375% by my arithmetic, and at the Rs 372 intraday high it is about 389%. Individual returns depend on the allotment and holding period.
How did Eternal perform in Q2 FY27?
Ans. Revenue was Rs 24,138 crore, up 77.6%, and net profit was Rs 125 crore, up 92.3% but below analyst estimates of about Rs 250 crore to Rs 271 crore. Blinkit net order value rose 79.3% to Rs 20,940 crore.
Why does the P/E ratio vary so much between websites?
Ans. Trailing earnings are small compared with the price, and data providers use different earnings bases. One page shows about 135x and others about 700x. Check the filing before using any multiple.
What are the brokerage targets?
Ans. Kotak Neo has a Buy with a Rs 435 target, Jefferies a base case of Rs 430 and Motilal Oswal a Rs 380 target in one report. Macquarie is cautious on valuation. These are opinions, and they change.
What drives the Eternal share price?
Ans. Blinkit growth and margins, food delivery profitability, results versus estimates, store expansion and overall market direction all matter. The stock fell about 3.5% after the Q2 profit miss.
What are the main risks for Eternal?
Ans. Competition in quick commerce, heavy Blinkit investment, a premium valuation, rising costs and a market reversal. A record high does not mean that the stock cannot fall.
Should I buy Eternal because it hit a record high?
Ans. Univest does not recommend any security. A record high is a price fact, not a signal. Read the results and valuation and consult a SEBI-registered adviser.