Eternal Share Price Rises 1% After Rs 156-Crore Block Deal

Market Performance

Eternal's share price gained 1% on June 11, breaking a two-day losing streak. The stock opened at ₹258 per share after 60.93 lakh shares (0.06% of equity) were traded in a block deal worth ₹156 Crore at an average price of ₹256 per share.

Why Was Eternal's Share Price Under Pressure?

Eternal, the parent company of Zomato, has faced recent declines due to Rapido's entry into the food delivery market. The cab-hailing platform announced a pilot project in Bengaluru with lower fees, sparking concerns about competition.

Rapido's Food Delivery Model – Key Details

• Flat delivery fee: ₹25 + GST (orders above ₹100 within 4 km)
• Smaller orders: ₹20 + GST (orders below ₹100 within 4 km)
• No hidden charges: Ensures online prices match offline menu rates
• Existing user base: 30 million monthly active users and 4 million rides daily

Company Overview

Eternal operates Zomato, one of India's leading food delivery platforms. The company has maintained a strong market position alongside rival Swiggy, but Rapido's entry could disrupt the duopoly.

Key Takeaways

• Eternal's share price rebounded 1% after a ₹156-crore block deal.
• Recent declines were attributed to Rapido's launch of food delivery, which offered competitive pricing.
• Rapido's lower commission model could challenge Zomato and Swiggy if successfully executed.

The stock's movement will depend on market sentiment and Rapido's impact on the food delivery sector.