Eternal Ltd, the parent company of Zomato and BlinkIt, has become the 23rd largest company in India after beating Titan Ltd. and Avenue Supermarts Ltd. in terms of market capitalisation.
The overall market capitalisation of Eternal rose 1.28% today, on account of the recent stock price movement, thus overtaking the total market capitalisation of Titan and Avenue Supermarts, the listed entity of Dmart.
The current market capitalisation of Eternal stands at Rs 3.16 lakh crore, up from Rs 3.02 lakh crore yesterday. In contrast, Titan's market capitalisation stood at Rs 3.15 lakh crore, and Dmart's market capitalisation stood at Rs 3.05 lakh crore.
The food & grocery delivery aggregator is now a bigger company than not only DMart and Titan but also the likes of ONGC (Rs 2.95 lakh crore), JSW Steel (Rs 2.72 lakh crore), Tata Motors (Rs 2.63 lakh crore) and Wipro (Rs 2.66 lakh crore).
Eternal is marginally trailing HAL (Rs 3.23 lakh crore) and NTPC (Rs 3.24 lakh crore). And in order to enter the top 20, Eternal has to reach Rs 3.32 lakh crore, the current market cap of Bajaj Motors.
Zomato Share Price, Brokerage Calls & More
Shares of Eternal returned 18.5% on a year-to-date basis. But over a six-month period, the stock has zoomed 60%.
Eternal currently trades with a relative strength index of 48, which suggests neutral market sentiment. A total of 29 out of 33 analysts tracking the company have a 'buy' rating on the stock, while four recommend 'sell', according to Bloomberg data. The 12-month analysts' consensus target price implies flat returns, Bloomberg data showed.
Who's At The Top?
Reliance Industries remains by far the largest company in India, with a total market capitalisation of Rs 19 lakh crore. HDFC Bank stands second with a market capitalisation of Rs 14.83 lakh crore.
As far as the consumption story is concerned, Hindustan Unilever ranks highest with a market capitalisation of Rs 6.06 lakh crore, followed by ITC's Rs 5.16 lakh crore.
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