Goldman Sachs Sells Eternal Shares Via A ₹169 Cr Block Deal

Goldman Sachs recently sold a substantial portion of Eternal shares through a ₹169 crore block deal, according to NSE data. The prestigious financial institution executed the transaction by selling 53.4 lakh shares at ₹316 each, thereby generating a considerable amount. This sale occurred at a 2.6% discount in comparison to Eternal's last closing price on Thursday.

Notably, the shares were purchased by Bank of America's affiliate, BofA Securities Europe, for the same amount of ₹168.7 crore. This is the second block of Eternal shares to be sold in the past two months, following a sale by BNP Paribas and Millennium Management in early September, which yielded a total of ₹3,264.8 crore from the sale of over 9.9 crore shares.

Investors have shown continued confidence in Eternal, as the stock has seen a 10% surge in the last three months and a 16.2% increase so far this year. The foodtech company's impressive performance can be attributed to its strong financial results despite mounting competition in the quick commerce sector. Eternal's quick commerce arm, Blinkit, continues to dominate the instant delivery market, contributing significantly to the company's success.

Eternal reported a consolidated net profit of ₹92 crore in Q1 FY27, which is a remarkable three and a half times increase from ₹25 crore in the same quarter of the previous year. Operating revenue also experienced impressive growth, rising 182% YoY and 17% QoQ to ₹20,211 crore during the quarter in review. On Thursday, Eternal's shares closed BSE trading session 2.77% higher at ₹324.35.