Global financial major Goldman Sachs has cut its stake in Eternal by selling 1.08 crore shares of about ₹355 crore value through an open market selling this week. The purchase was reportedly made by BofA Securities Europe SA, at an average price of ₹329 per share.
This is the third big block sell by Goldman in recent months. In early September, it sold over ₹250 crore in value of shares, and another sell of around ₹30 crore to Morgan Stanley.
Momentum, but with care
Eternal’s stock has been on a strong run in 2025, hitting a new peak of ₹343.95 last month. The company’s sharp rally up nearly 26% in the last quarter has made it one of the most actively discussed names in India’s consumer internet space.
Though the bull story remains attractive, booking profits by Goldman is a sign of strategic reassessment. Institutions tend to sell on spikes when valuations outpace fundamentals a dynamic that appears to be at play here.
The Numbers Behind the Narrative
Eternal’s Q1 FY26 performance relates a bittersweet tale.
Revenue rose close to 70% year-on-year, past ₹7,100
Netprofit, nevertheless, dropped sharply below 90% down to about ₹25 crore, mainly as a result of increased operating and marketing expenses.
The quick commerce vertical of the company, Blinkit, is keeping the top-line momentum alive but also put pressure on margins significantly.
The future journey
Partial exit by Goldman would make short-term sentiment on the markets vigilant. However, for long-term perspective, analysts remain bullish pointing out the robust growth engines and steadily improving unit economics at quick commerce.
The next stage for Eternal will depend on converting growth on a dollar basis into profitability, as investors look beyond revenue blips and GMV increasingly for ongoing financial performance.
