Eternal Stock Analyzed: A Rollercoaster Day
Eternal stock had a very busy day! The price jumped up a lot at first because the company, which owns Zomato and Blinkit, announced they made a lot more profit. Then, the price dropped sharply after some investors sold their shares. This shows how quickly stock prices can change.
Key Points
- Company profits jumped 72.8% in Q3.
- Founder Deepinder Goyal resigned.
- Stock soared 7.5% initially, then fell 9.5%.
- Trading volume was very high (98 million shares).
- Stock is in a consolidation range of ₹275-₹305.
- Analyst sees potential for up to 18% rally.
Eternal is the company that owns Zomato and Blinkit. On Thursday, the stock price went up quickly, reaching ₹305. This was a big jump! But, after a while, many people started selling their shares, and the price went down a lot – almost 10%.
The company had good news: they made a lot more money than last year. They earned ₹102 crore, which is a big increase from ₹59 crore. They also made a lot more money selling food and groceries – over ₹16,315 crore, compared to just ₹5,405 crore.
But, the good news wasn’t enough to keep the stock price high. Someone important, Deepinder Goyal, who was in charge of the company, decided to leave his job. This can sometimes worry investors and make them sell their shares.
Some experts looked at the stock chart. They said the stock was moving around a little bit, like it was trying to decide where to go next. One expert, Drumil Vithlani, thinks the price will go up if it breaks through a certain level. He pointed out that the price was below a key average for a while, and the stock was bouncing back a bit.
Another analyst, Anand James, had a more optimistic view. He believes the stock could go up a lot more if it breaks through another barrier. However, he warns that there are still some challenges that could stop the stock from going up.
“A stock’s future is like a game of chance, and investing always carries some risk.”
