Shares of Eternal Ltd (formerly Zomato) hit their record high in early deals today amid a rally in the broader market. Eternal stock rose to a high of Rs 315.60 against the previous close of Rs 312.30 on BSE. A total of 3.21 lakh shares of Eternal changed hands amounting to a turnover of Rs 10.79 crore on BSE. The market cap of the firm climbed to Rs 3.03 lakh crore in the current session.
The stock fell to its 52-week low of Rs 189.60 on April 7, 2025. With today’s rally, the stock has surged 14% in 2025.
The stock of the online food delivery firm is bullish in the short as well as long term as the scrip is higher than the 5 day, 10 day, 20 day, 30 day but lower than the 50 day, 100 day, 150 day and 200 day moving averages.
The multibagger stock has gained 238% in two years and risen 409% in three years. It has seen very high volatility in the last one year with a beta of 1.3.
Choice Broking is bullish on the stock with a target of Rs 362 and a stop loss of Rs 288. The duration for the call is 1 month.
“A decisive close above Rs 325 could act as a catalyst for the next leg of the rally, with near-term upside potential toward Rs 362, underscoring its strong bullish momentum. The price is well-supported above its 20, 50, 100, and 200-day Exponential Moving Averages, all trending upward, confirming the strength of the prevailing trend. On the downside, immediate support lies at Rs 300, which may serve as an attractive accumulation zone in case of minor pullbacks,” said Choice.
“Traders may consider a buy-on-dips strategy around Rs 300, with a positional stop-loss at Rs 288. Upon confirmation, Eternal could aim for Rs 362 and beyond, offering a favorable risk-reward setup for positional trades,” added Choice.