Eternal , the popular food delivery platform, witnessed a significant block trade on the National Stock Exchange (NSE) involving approximately 2,009,860 shares. The transaction, valued at Rs. 63.44 crores, took place at a price of Rs. 315.65 per share.

Block Deal Details

The block deal, which represents a substantial transaction in Eternal's stock, has caught the attention of market observers. Here's a breakdown of the key details:

Market Implications

Block deals of this magnitude often indicate significant interest from institutional investors or large shareholders. Such transactions can sometimes impact market sentiment and trading patterns for the stock in question.

About Eternal

Eternal is a leading player in India's food delivery and restaurant discovery space. The company has been in the spotlight since its high-profile initial public offering (IPO) in 2021, and its stock performance continues to be closely monitored by investors and analysts alike.

While the details of the parties involved in this block deal have not been disclosed, such transactions often prompt market participants to keep a close eye on potential changes in the company's shareholding pattern or institutional interest.

Investors and market analysts will likely be watching Eternal's stock performance in the coming days to gauge any potential impact of this significant block trade on the company's market dynamics.

In a significant development at Eternal , more than 140 executives have exercised employee stock options (ESOPs) worth Rs 419.00 crore over July 29 and 30. This massive exercise was spearheaded by Blinkit CEO Albinder Dhindsa, who alone accounted for over half of the total value.

Key Highlights

• Albinder Dhindsa converted options to buy seven million Eternal shares worth Rs 214.51 crore.
• 31 other top executives converted options worth more than Rs 1.00 crore each.
• Nearly half of the 32 executives exercising high-value options were from Blinkit.

Notable Participants

Several key figures participated in this ESOP exercise, including:

• Hyperpure CEO Rishi Arora
• Food delivery CEO Rakesh Ranjan
• Rakesh Ranjan's successor Aditya Mangla
• Corporate development head Kunal Swarup

The executives exercising these options represented various entities within the Eternal ecosystem, including Blinkit, Zomato, Hyperpure, and District.

Stock Performance and Company Valuation

Eternal's stock has been performing strongly, reaching its highest levels in the past seven months. The stock closed at Rs 300.80 per share, valuing the company at Rs 2.90 lakh crore.

Blinkit's Growth and Impact

Blinkit, a key player in Eternal's portfolio, has shown remarkable growth:

• Gross Order Value (GOV) increased 140% year-on-year to Rs 11,821.00 crore for the quarter ended June 30.
• Blinkit's GOV surpassed Zomato's GOV of Rs 10,769.00 crore for the first time.
• 243 dark stores were added during April-June, bringing the total store count to 1,544.
• Plans are in place to reach 2,000 stores by December and 3,000 stores over time.

Financial Performance

Despite the impressive growth in some areas, Eternal faced challenges:

• Net profit decreased by 90% to Rs 25.00 crore.
• The decline is attributed to competitive intensity and rapid expansion efforts.

This ESOP exercise demonstrates confidence in Eternal's future among its top executives, particularly from the Blinkit team. However, the company faces the challenge of balancing rapid growth with profitability in a competitive market landscape.