Zomato parent Eternal becomes most valuable as Mcap hits Rs 3 Lakh Cr, becomes 24th most valuable company on Nifty 50 index

Food delivery giant Zomato’s shares are rising following its Q1 earnings announcement.  

Despite a sharp 90% drop in net profit, the stock has hit record highs due to robust sales growth and strong guidance, particularly around its quick commerce arm, Blinkit.

With a market capitalisation now exceeding Titan's, Zomato parent Eternal Ltd. became the 24th most valuable company on the Nifty 50 index. 

Shares of Eternal surged to an all-time high of Rs 311.6 on Tuesday, as the company’s market cap hit the Rs 3 lakh crore mark.

Eternal has joined the elite club of India’s most valuable listed companies, a status that once seemed unlikely for a loss-making foodtech startup.

Eternal has now become more valuable than Nifty blue chips, including Wipro, Tata Motors, JSW Steel, and Nestle India.

Also read: 'Haldi doodh is golden milk at Starbucks’: Mumbai founder says Indians mocked own traditions and now buy them at 25x price (startuppedia.in)

Eternal surpasses Nifty blue chips

At its peak today, Eternal’s mcap touched ₹3 lakh crore, pushing it ahead of several big-shot Indian corporates:

• Wipro: Rs 2.72 lakh crore

• Tata Motors: Rs 2.53 lakh crore

• JSW Steel: Rs 2.52 lakh crore

• Nestle India & Coal India: Rs 2.38 lakh crore each

• Bajaj Auto: Rs 2.36 lakh crore

• Asian Paints: Rs 2.27 lakh crore

Info Edge gains benefit

The rise in Eternal’s market cap has turned out to be a windfall for Info Edge (India) Ltd., which holds a significant stake in the food tech startup.

The value of its holding has jumped to nearly Rs 40,000 crore, accounting for over one-third of Info Edge’s mcap of Rs 94,000 crore.

This made Eternal a key strategic asset on Info Edge’s balance sheet, potentially shielding it from volatility in its other verticals, such as Naukri and 99acres.

Also read: SBI classifies Reliance Communications and Promoter Anil Ambani as "Fraud", to lodge complaint with CBI (startuppedia.in)