Food delivery and quick commerce platform companies Eternal and Swiggy rallied up to 6% on Monday's trading session amid heavy volume activity. According to reports from Business Standard, Eternal surged 6% to ₹295.70 in intra-day trade, while Swiggy's share price soared 5% to ₹264.45. However, Eternal shares declined 2.59% to ₹302.60 on Friday, July 31, 2026, as observed at 1:13 PM, reflecting recent market sentiment. The stock remains a constituent of the Nifty 50 index, with investors closely monitoring upcoming corporate actions including the 16th Annual General Meeting scheduled for August 26, 2026. The neutral sentiment from Moneycontrol's analysis suggests a wait-and-watch approach by market participants.
Eternal Limited demonstrated mixed financial performance in recent quarters, with significant revenue growth but fluctuating net profits. For the quarter-ending June 2026, the company reported consolidated revenue of ₹20,211 crore, representing a substantial increase from ₹7,167 crore in the same quarter of 2025. However, net profit for June 2026 decreased to ₹92 crore from ₹174 crore in the preceding March 2026 quarter, even though it was higher than the ₹25 crore reported in June 2025. The company's annual performance shows remarkable growth, with consolidated revenue surging from ₹4,192.40 crore in 2022 to ₹54,364 crore in 2026, while returning to profitability after losses in 2022-2023. Quarterly financials reveal revenue grew 16.99% from ₹17,292 crore in March 2026 to ₹20,211 crore in June 2026, though EPS decreased from ₹0.19 to ₹0.10 during the same period.
As reported by Business Standard, thus far in July 2026, Eternal and Swiggy have significantly outperformed the market, gaining 12% and 11% respectively. However, the performance diverges when looking at calendar year 2026 results. Swiggy's stock price has tanked 33% during the year, while Eternal has risen 4%. The BSE Sensex has slipped 10% during the same period, highlighting the divergent performance of platform stocks versus the broader market. Eternal's recent decline to ₹302.60 reflects the market's cautious approach ahead of key corporate events.
According to Swiggy's FY26 annual report released on Friday, July 24, 2026, as reported by Business Standard, quick commerce has emerged as one of the fastest growing segments within India's retail landscape. The market expanded significantly from approximately ₹400 crore in FY20 to around ₹52,700 crore in FY25, representing nearly 0.63% of total retail. The market is projected to scale further to ₹4.5 trillion-6.02 trillion by FY30, accounting for nearly 4% of India's retail market with a compound annual growth rate of 54-63% between FY25 and FY30.
Eternal Limited has scheduled its 16th Annual General Meeting (AGM) for August 26, 2026, as reported by Moneycontrol. The company also filed its annual report and transcript of its earnings conference call conducted on July 22, 2026, with the exchange on July 29, 2026. Despite recent stock decline, Eternal remains a preferred pick in the listed Internet space given its superior execution and leadership across hyperlocal commerce. Motilal Oswal Financial Services reiterated a 'BUY' rating on Eternal with a target price of ₹400 per share, implying a 35% upside from current price, while JM Financial Institutional Securities also maintained its 'BUY' rating with a revised target price of ₹400. With the stock trading at ₹302.60 and facing recent decline, investors will be closely monitoring the outcomes of the upcoming AGM and future financial disclosures for insights into the company's trajectory and potential impact on its stock performance.
