Latest news with #Eternal
Economic Times
11 hours ago
- Business
- Economic Times
Most expensive Nifty stock ever? Eternal at 455 PE dares you to doubt the hype
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel If something is good enough, it would probably be expensive. But at 455 times earnings, Eternal isn't just expensive but in a valuation galaxy of its own. The Nifty 50's newest entrant is also its most richly valued stock, wearing a PE multiple that makes seasoned value investors squirm and growth investors think blame only Eternal. Two other Nifty constituents, Trent (132x PE) and Jio Financial (113x PE), are also sitting pretty above the 100x valuation mark, signaling a shift in investor appetite towards long-term growth over current the opposite end of the spectrum? Coal India , the public sector behemoth, trades at a humble PE of 6.8x, giving Nifty watchers a vivid picture of the valuation extremes in India's top 50 listed companies.A trailing 12-month (TTM) PE of 455 means investors are paying today for profits the company may earn over the next four and a half centuries, if earnings stood still. But theory rarely captures the speed at which some Indian digital-first companies are expanding. Eternal, formerly known as Zomato, is thriving in two of India's hottest consumer tech battlegrounds: food delivery and quick investor worries and growing competitive heat, the stock is anything but funds have been lining up for a bite of Eternal. In May alone, they pumped in ₹5,300 crore, making it the third-most bought stock that month, according to estimates by Prime this month, Morgan Stanley reiterated Eternal as its top India internet pick, citing its market leadership in both food delivery and quick commerce, a superior cost structure, and a balance sheet stronger than its peers. The firm has a target price of ₹320 on the Eternal shares are down 10% year-to-date, the Street isn't writing it off. Concerns loom large. Rapido's entry into food delivery, intensifying competition from Zepto, BigBasket, Swiggy Instamart, Amazon Now, and Flipkart Minutes in the quick-commerce race but believers say the company's edge lies in Securities' Sachin Salgaonkar returned from a recent internet tour upbeat on Eternal's quick commerce arm Blinkit:'Traction in Tier 2 cities surprised industry experts… some stores hit 1,000 orders per day within 6–9 weeks. Amongst the top platforms, only Zomato continues to add more dark stores while others like Swiggy/Zepto/BigBasket have started to slow down store adds.'That expansion drive, Salgaonkar believes, gives Blinkit a competitive edge, especially as rivals slow store additions. Interestingly, the real kicker isn't convenience or discounts but better product selection, especially in smaller Securities, too, maintains a Buy rating, valuing Eternal at ₹310 via a three-stage DCF model. The brokerage sees signs of softening pricing wars, noting that Instamart and Zepto have reduced the pricing gap with Blinkit. The end of the discount era may be in sight—a potential profitability Jefferies, Eternal is a long-term bet on the digitization of food services. 'With only ~20 million monthly transacting users currently, there's a long runway for growth. Blinkit is already the market leader in quick commerce and is poised for sharp margin improvement.'Palak Shah, VP, PL Capital, adds perspective from the institutional front: 'Markets focus on the total addressable market and execution capability. Eternal has proven itself in food delivery. The belief is now that they can replicate that in quick commerce. Once the capex phase is over, operational efficiency will drive the narrative.'Yet, competition is getting bolder. Rapido's attempt to disrupt the food delivery space by lowering commission rates is leading to speculation that the Gross Order Value (GOV) may start shifting from Sonthalia, CIO at Emkay Investment Managers, argues that while the entry barriers are low, fixing unit economics is extremely difficult. 'Just entering and playing the pricing game doesn't guarantee success. Execution capability is crucial. Yes, competition is increasing, but the 'right to win' currently lies with only one dominant player. Others are still evolving. New entrants will have to work really hard.'Eternal may just be the poster child for investors who bet on the future, even when the present valuation feels like a cliffhanger. For now, the 455x question remains: Is the market's faith eternal or just euphoric?: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
The Hindu
11 hours ago
- Business
- The Hindu
Markets rebound in early trade tracking firm Asian peers, foreign fund inflows
Equity benchmark indices Sensex and Nifty rebounded in early trade on Friday (June 20, 2025) after a three-day decline tracking a positive trend in Asian markets and foreign fund inflows. After a flat start, the 30-share BSE Sensex later climbed 289.43 points to 81,651.30 in early trade. The 50-share NSE Nifty went up by 88.25 points to 24,881.50. From the 30-Sensex firms, Mahindra & Mahindra, Eternal, State Bank of India, UltraTech Cement, Bajaj Finserv and Maruti were among the biggest gainers. IndusInd Bank, Bajaj Finance, Tech Mahindra and Kotak Mahindra Bank were among the laggards. In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng were quoting in the positive territory. US markets were closed on Thursday for Juneteenth holiday. Global oil benchmark Brent crude dropped 2.45% to $76.92 a barrel. "Nifty which has been trading within the 24,500-25,000 range for about a month now is likely to remain within this range in the near-term. The upper side of the range will be broken only on news of de-escalation of the Israel-Iran conflict or an abrupt end to the war. "The lower side of the range is unlikely to break since big buying, particularly by domestic institutions, will emerge on dips. If the war lingers and crude rises beyond $85 the lower band of the range will be broken," VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said. Foreign Institutional Investors (FIIs) bought equities worth Rs 934.62 crore on Thursday, according to exchange data. Domestic Institutional Investors (DIIs) also bought equities worth Rs 605.97 crore. On Thursday, the 30-share BSE Sensex declined 82.79 points, or 0.10 per cent, to settle at 81,361.87. The Nifty dipped 18.80 points or 0.08 per cent to 24,793.25.
Time of India
11 hours ago
- Business
- Time of India
Most expensive Nifty stock ever? Eternal at 455 PE dares you to doubt the hype
If something is good enough, it would probably be expensive. But at 455 times earnings, Eternal isn't just expensive but in a valuation galaxy of its own. The Nifty 50's newest entrant is also its most richly valued stock, wearing a PE multiple that makes seasoned value investors squirm and growth investors think twice. Don't blame only Eternal. Two other Nifty constituents, Trent (132x PE) and Jio Financial (113x PE), are also sitting pretty above the 100x valuation mark, signaling a shift in investor appetite towards long-term growth over current profits. On the opposite end of the spectrum? Coal India , the public sector behemoth, trades at a humble PE of 6.8x, giving Nifty watchers a vivid picture of the valuation extremes in India's top 50 listed companies. A trailing 12-month (TTM) PE of 455 means investors are paying today for profits the company may earn over the next four and a half centuries, if earnings stood still. But theory rarely captures the speed at which some Indian digital-first companies are expanding. Eternal, formerly known as Zomato , is thriving in two of India's hottest consumer tech battlegrounds: food delivery and quick commerce . Despite investor worries and growing competitive heat, the stock is anything but untouchable. Mutual funds have been lining up for a bite of Eternal. In May alone, they pumped in ₹5,300 crore, making it the third-most bought stock that month, according to estimates by Prime Database. Also Read | Buy Eternal & Swiggy, sell Nykaa & BSE: Latest investing mantra of mutual funds Earlier this month, Morgan Stanley reiterated Eternal as its top India internet pick, citing its market leadership in both food delivery and quick commerce, a superior cost structure, and a balance sheet stronger than its peers. The firm has a target price of ₹320 on the stock. While Eternal shares are down 10% year-to-date, the Street isn't writing it off. Concerns loom large. Rapido 's entry into food delivery, intensifying competition from Zepto, BigBasket, Swiggy Instamart, Amazon Now, and Flipkart Minutes in the quick-commerce race but believers say the company's edge lies in execution. BofA Securities' Sachin Salgaonkar returned from a recent internet tour upbeat on Eternal's quick commerce arm Blinkit: 'Traction in Tier 2 cities surprised industry experts… some stores hit 1,000 orders per day within 6–9 weeks. Amongst the top platforms, only Zomato continues to add more dark stores while others like Swiggy/Zepto/BigBasket have started to slow down store adds.' That expansion drive, Salgaonkar believes, gives Blinkit a competitive edge, especially as rivals slow store additions. Interestingly, the real kicker isn't convenience or discounts but better product selection, especially in smaller cities. ICICI Securities, too, maintains a Buy rating, valuing Eternal at ₹310 via a three-stage DCF model. The brokerage sees signs of softening pricing wars, noting that Instamart and Zepto have reduced the pricing gap with Blinkit. The end of the discount era may be in sight—a potential profitability trigger. For Jefferies, Eternal is a long-term bet on the digitization of food services. 'With only ~20 million monthly transacting users currently, there's a long runway for growth. Blinkit is already the market leader in quick commerce and is poised for sharp margin improvement.' Palak Shah, VP, PL Capital, adds perspective from the institutional front: 'Markets focus on the total addressable market and execution capability. Eternal has proven itself in food delivery. The belief is now that they can replicate that in quick commerce. Once the capex phase is over, operational efficiency will drive the narrative.' Also Read | Rapido crashes food delivery party. Should Swiggy and Eternal investors be worried? Yet, competition is getting bolder. Rapido's attempt to disrupt the food delivery space by lowering commission rates is leading to speculation that the Gross Order Value (GOV) may start shifting from Zomato. Manish Sonthalia, CIO at Emkay Investment Managers, argues that while the entry barriers are low, fixing unit economics is extremely difficult. 'Just entering and playing the pricing game doesn't guarantee success. Execution capability is crucial. Yes, competition is increasing, but the 'right to win' currently lies with only one dominant player. Others are still evolving. New entrants will have to work really hard.' Eternal may just be the poster child for investors who bet on the future, even when the present valuation feels like a cliffhanger. For now, the 455x question remains: Is the market's faith eternal or just euphoric? ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
India Gazette
2 days ago
- Business
- India Gazette
From Silver to Smart Investment: How Eternal Handicrafts Is Turning Royal Elegance into a Modern Asset
SMPL New Delhi [India], June 18: While most people still invest in wooden furniture that loses its shine and value over time, savvy buyers are now turning to silver furniture -- a timeless combination of beauty, durability, and real monetary worth. And when it comes to handcrafted silver furniture in India, one name stands out: Eternal Handicrafts, founded by Naman Nahata in the heart of Rajasthan's royal city, Udaipur. 'Silver isn't just decor -- it's a growing asset. In the last two years alone, the price of silver has jumped by over 1 lakh per kg,' says Mr. Nahata. 'At Eternal, we help you decorate your home while growing your wealth.' Why Choose Silver Furniture Over Wood? Wooden furniture may be common, but it depreciates quickly, requires regular maintenance, and loses charm over time. On the other hand, silver and German silver furniture: -Appreciates in value -- just like gold - Requires minimal upkeep (no termites, no warping) - Looks regal and unique - Lasts generations -- both structurally and in terms of resale worth Example: In 2023, silver was around 60,000/kg. By mid-2025, it crossed 1,10,000/kg. Why invest in wood when you can own functional wealth? Why Eternal Handicrafts? With over 35 years of experience, Eternal Handicrafts isn't just another luxury brand -- it's a cultural powerhouse. Based in Rajasthan, the land of royals, Eternal brings the essence of Indian heritage into modern interiors through its handcrafted silver masterpieces. What makes them different? -Legacy of Craftsmanship - Since 1991, built by master artisans from Udaipur - Skilled Workforce - Team of local artisans trained in traditional Rajasthani techniques - Timely Deliveries - Luxury, delivered with precision - Customization Experts - From concept to creation, built to fit your vision - Global Reach - Proudly exporting to clients across the USA, UAE, UK, and beyond 'From a swing for your palace to a temple for your home -- if you can imagine it in silver, we can build it.' What Do They Make? Eternal Handicrafts offers a wide, ever-evolving portfolio of silver and German silver furniture, including: - Designer chairs, sofas, and tables - Royal jhoolas (swings) and diwans - Maharaja-style beds and side tables - Pooja temples, chowkis, and thrones - Decorative mirrors, consoles, and dressers - Customised wedding gifts and statement showpieces - Corporate gifting and bulk orders Every product is unique -- handcrafted, not factory-made -- blending traditional design with modern sensibilities. Key Highlights - 11,000 sq ft luxury showroom in Udaipur - 10,000 sq ft manufacturing unit with 50+ artisans - Wide export network across 10+ countries - Products made from precious metals (silver & German silver) - Highly customisable designs for homes, hotels, and collectors - Proudly Made in India, admired globally About Eternal Handicrafts Originally launched as Jai Bhikshu Enterprises in 1991, Eternal Handicrafts has grown into one of India's most renowned names in silver and German silver furniture. From its roots in Udaipur's Amberi region, the company now operates a world-class facility that brings together tradition, technology, and talent. Their mission? To preserve heritage, empower artisans, and deliver handcrafted luxury that appreciates in value. About the Founder - Mr. Naman Nahata A visionary with a deep passion for Indian culture and design, Naman Nahata has spent decades building Eternal Handicrafts into a brand that blends legacy with innovation. Known for his eye for detail and dedication to excellence, he continues to lead the company toward a global future while staying rooted in Rajasthan's artisanal pride. 'At Eternal, we don't just make furniture -- we craft legacies. Each piece is made to outlive trends and become a treasured part of your story.' - Naman Nahata For showroom visits, custom orders, or to request a product catalogue, connect with us at: (ADVERTORIAL DISCLAIMER: The above press release has been provided by SMPL. ANI will not be responsible in any way for the content of the same)
Hans India
2 days ago
- Business
- Hans India
Bourses turn bearish amid profit-booking in oil, pharma
Mumbai: Benchmark Sensex dropped by 212 points on Tuesday due to profit-taking in metal, oil & gas and pharma shares as investors turned cautious due to increased tensions in the Middle East. The 30-share BSE Sensex declined 212.85 points or 0.26 per cent to settle at 81,583.30. During the day, it dropped 369.14 points or 0.45 per cent to 81,427.01. The 50-share NSE Nifty dropped 93.10 points or 0.37 per cent to 24,853.40. Investors preferred to stay on the sidelines due to rising global crude oil prices and the upcoming US Fed interest rate decision later this week, according to experts. Pharma shares also came under pressure after reports stated that US President Donald Trump has warned that tariffs on pharmaceuticals and semiconductor products would be announced shortly. Sun Pharma emerged as the biggest loser among Sensex shares, dropping by 2.18 per cent. Eternal, Tata Motors, Bajaj Finance, IndusInd Bank and Bajaj Finserv were also among the laggards. In contrast, Tech Mahindra, Infosys, Asian Paints and Maruti were among the gainers. 'The benchmark equity index experienced moderate losses amid rising risk of an escalation of conflicts in the Middle East. This uncertainty pushed Brent crude prices higher -- an unfavourable development for India, given its heavy reliance on oil imports, thereby dampening earnings growth,' Vinod Nair, Head of Research, Geojit Investments Limited, said. Israel appeared to be expanding its air campaign on Tehran as US President Donald Trump posted an ominous message warning residents of the capital to evacuate. The BSE smallcap gauge dropped 0.67 per cent and midcap index declined 0.56 per cent. Among BSE sectoral indices, metal went lower by 1.29 per cent, services (1.09 per cent), oil & gas (0.92 per cent), commodities (0.86 per cent), energy (0.73 per cent), consumer discretionary (0.64 per cent) and realty (0.64 per cent). IT, teck and BSE Focused IT were the gainers. Among Nifty sectoral indices, Nifty Pharma dropped the most by 1.89 per cent. Granules India, Lupin, Natco Pharma, Laurus Labs and Aurobindo Pharma were major losers.
