By Admin 
Zomato Eternal Shares: There has been a significant decline in the shares of Eternal Limited (Zomato) in recent times. By March 2026, the company’s shares had fallen by more than 40 percent from their high level in October. But the surprising thing is that the hopes of brokerage firm JM Financial are still pinned on this stock. The brokerage believes that after the fall the shares are being sold at very attractive prices. In such a situation, investors should buy them vigorously.
Shares are continuously falling
After reaching its all-time high of Rs 368.45 per share in October last year, the shares fell by more than 42 per cent on Monday to their lowest level of Rs 212.60 per share. JM Financial said that the first phase of this decline started after the change in the leadership of the company.
While announcing its Q3 results in January, the company had said that the company’s founder and CEO Deependra Goyal has resigned from his post and now Blinkit CEO Albinder Dhindsa will replace him. After this news, investors’ confidence in shares wavered. Later, Eternal’s shares fell further due to fears that the Strait of Hormuz would remain closed for a longer period due to the war in Iran. This may deepen the LPG crisis in the country, which will impact the company.
Why is brokerage confident?
- JM Financial believes that the impact of the LPG crisis in the country is being exaggerated. The brokerage is confident that the company will make a rapid recovery once macroeconomic conditions improve.
- The brokerage has estimated 18% year-on-year growth in Eternal’s net order value (NOV) for Q4FY26. This will be the strongest compared to the last seven quarters.
- The brokerage also believes that undoubtedly there have been some disruptions in the supply of LPG due to tensions in the Middle East. But big restaurant chains or cloud kitchens have their own backup system. There is very little possibility of this having any long-term impact on delivery volumes.
- Giving a target price of Rs 400 to the shares of Eternal, the brokerage said that the fall in the price could be a good opportunity to buy the shares. JM Financial believes that it may rise by up to 80 percent in the coming time.
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