Eternal , the popular food delivery platform, witnessed a significant block trade on the National Stock Exchange (NSE) recently. The transaction involved approximately 508,355 shares of the company, traded at a price of Rs. 309.65 per share.

Block Deal Details

The block deal, totaling Rs. 15.74 crores, represents a substantial transaction in Eternal's stock. Such bulk deals often attract attention from investors and market analysts, as they can sometimes indicate shifts in institutional holdings or significant investor interest.

Transaction Breakdown

To better understand the scale of this transaction, here's a breakdown of the block deal:

This block trade underscores the ongoing interest in Eternal's stock among larger investors. While the identity of the buyer and seller in this transaction remains undisclosed, as is typical in block deals, the size of the trade suggests it could be an institutional investor or a high-net-worth individual.

Market Impact

Block deals of this magnitude can sometimes influence market sentiment towards a stock. However, it's important to note that the impact of such transactions on the overall stock price and market dynamics can vary. Investors and analysts often monitor these deals for insights into potential shifts in ownership or market perception of the company.

Eternal, which has been a key player in India's rapidly growing food delivery market, continues to attract investor attention. The company's performance in the competitive food-tech sector remains a point of interest for market participants.

As always, investors are advised to conduct their own research and consider multiple factors when making investment decisions. The stock market can be volatile, and past performance does not guarantee future results.

Eternal Ltd. , the parent company of popular brands Zomato and Blinkit, has received three Goods and Services Tax (GST) orders from the Joint Commissioner-4 in Bengaluru, imposing a total tax demand exceeding Rs 40 crore for the period from July 2017 to March 2020.

GST Demand Breakdown

The company, in its latest disclosure to the stock exchanges, provided a detailed breakdown of the tax demand:

Nature of Violations

The GST orders cite different reasons for the tax demands:

1. For the period July 2017 to March 2018: Short payment of output tax
2. For the periods April 2018 to March 2019 and April 2019 to March 2020: Excess availment of input tax credit

Company's Response

Eternal Ltd. has stated that it plans to file appeals against these orders. The company believes it has a strong case on merits, supported by legal counsel. In its disclosure, Eternal Ltd. mentioned that it does not expect any financial impact on the company due to these orders.

About Eternal Ltd.

Eternal Ltd., formerly known as Zomato Limited, operates four major businesses:

1. Zomato
2. Blinkit
3. District
4. Hyperpure

This development comes as part of the ongoing scrutiny of GST compliance in the rapidly evolving digital economy sector. As companies like Eternal Ltd. continue to grow and diversify their operations, tax authorities are closely examining their tax positions and compliance with GST regulations.