Eternal's m-cap surges to ₹3,26,000 crore; ranks ahead of Hindustan Aeronautics, Titan

The market valuation of Eternal Ltd, which owns the Zomato and Blinkit brands, surged to ₹3,26,000 crore on Thursday following a rally in its stock price, with the company racing ahead of firms like Hindustan Aeronautics, Titan, Avenue Supermarts and Adani Ports in the market capitalisation chart.

Shares of Eternal climbed 2.96% to settle at ₹337.90 apiece on the BSE. During the day, the stock jumped 3.18% to ₹338.65, its 52-week high level.

The stock has been rallying for the past four trading days, climbing 5.11%.

At the close of trade, the company commanded a market valuation of ₹3,26,085.35 crore.

Eternal emerged as the biggest gainer among both the Sensex and Nifty firms.

Eternal stood at the 22nd rank in the chart of the top 100 companies by market capitalisation (mcap).

The company is ahead of Hindustan Aeronautics, whose market valuation stood at ₹3,24,847.42 crore, Titan Company (₹3,11,692.84 crore), Avenue Supermarts (₹3,09,758.70 crore), Adani Ports (₹3,05,087.22 crore), Bharat Electronics (₹2,99,591.29 crore) and ONGC (₹2,96,454.28 crore).

So far this year, Eternal's stock has jumped 21.54%.

Market on September 18

The Indian stock market closed in green on Thursday, September 18, extending its rally for a third straight session, driven by pharma and IT stocks, after the US Federal Reserve cut interest rates by 25 basis points to a 4-4.25% range, a level last seen in December 2022.

At close, the S&P BSE SENSEX stood at the 83,013.96 level, surging 320.25 points, or 0.39%, while the NSE's NIFTY50 index rose 92.30 points, or 0.36%, to settle at the 25,422.55 level.

The equity benchmark indices closed on Thursday at their highest levels since early July.

On the NIFTY50, 33 stocks ended in the green, while 16 declined and one remained unchanged on Thursday. Eternal was the most contributing stock, jumping 2.92%, followed by HDFC Life Insurance (2.22%), Sun Pharma (1.75%), Cipla (1.31%) and Infosys (1.23%).

On the flip side, Coal India (-1.69%), Bajaj Finance (-1.33%), Trent (-0.93%), Tata Motors (-0.92%) and Tata Consumer Products (-0.69%) were the top losing stocks on the 50-share index.