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Ticker: WABIX

Portfolio managers:

Petros Bocray, CFA®, FRM;

Matthias Scheiber, CFA®, Ph.D.;

Rushabh Amin;

and David Kowalske, Jr.

Subadvisor: Allspring Global Investments, LLC

Category: Tactical allocation

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Eternal shares on Friday rose 3% from the day’s low of Rs 230.10 on the NSE to scale the day’s high of Rs 236.70 after its food delivery platform Zomato increased the platform fee by Rs 2.40 per order. The stock witnessed strong investor response with over 5.5 crore shares getting traded on the exchange. The traded value of the shares stood at Rs 1,293 crore.

The stock finally ended at Rs 232.41, up by Rs 3.67 or 1.60% over the last closing price of Rs 228.74.

On a pre-GST basis, platform fee on Zomato is now Rs 14.90 per order from Rs 12.50 earlier, according to a news report by ET Tech. The last such hike was undertaken in September 2025, the report said. Zomato’s food delivery rival Swiggy is currently charging a fee of Rs 14.99 per order, including taxes. Typically, the two players follow each other in changing these levies.

The move comes at a time when urban mobility startup Rapido has launched its food delivery offering Ownly in Bengaluru, claiming that it will not charge any additional fees to customers or restaurants apart from a delivery charge.

Eternal shares have seen significant correction, declining 30% in the past six months. It has underperformed Nifty and the BSE Sensex, which have declined 9% and 10%, respectively in the same period.

The stock is currently trading below its 50-day and 200-day simple moving averages (SMAs) of Rs 265 and Rs 291, respectively, according to Trendlyne data.
Also read | Nifty Bank logs 3rd-worst March fall since the global financial crisis. HDFC Bank, SBI among top culpritsEternal, which also operates quick commerce arm Blinkit, reported a 73% year-on-year (YoY) rise in consolidated net profit to Rs 102 crore. Revenue from operations surged 201% YoY to Rs 16,315 crore.

Revenue growth was mainly driven by an accounting shift to inventory ownership in quick commerce, where revenue now includes the full value of goods sold rather than just marketplace commission. According to Eternal, the like-for-like revenue growth during the quarter was 64% YoY.

Consolidated EBITDA increased 28% YoY to Rs 364 crore, while rising 63% QoQ.

For the food delivery business, adjusted revenue rose 26% YoY to Rs 2,413 crore. Net order value (NOV) increased 17% YoY, accelerating from 13.8% growth in the previous quarter. This marked the second consecutive quarter of NOV growth acceleration, following a trough of 13.1% in Q1FY26. Gross order value (GOV) growth for the third quarter stood at 21% YoY.

Also read | 83% of BSE 500 stocks plunge up to 35% amid Mideast war. Do you own any?

(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)

Iranian strikes have cut about 17% of Doha’s liquefied natural gas (LNG) export capacity, QatarEnergy’s CEO told Reuters in an interview on Thursday.

Saad al-Kaabi said the disruption could result in an estimated $20 billion in lost annual revenue and threaten supplies to Europe and Asia.

The CEO of the state-owned energy company, who is also Qatar’s minister of state for energy affairs, told Reuters that damage to two LNG trains and one of its two gas-to-liquids facilities will sideline roughly 12.8 million tons per year of output for three to five years.

“I never in my wildest dreams would have thought that Qatar would be — Qatar and the region — in such an attack, especially from a brotherly Muslim country in the month of Ramadan, attacking us in this way,” said al-Kaabi.

IRAN HOLDS WORLD ENERGY HOSTAGE WITH ‘NIGHTMARE’ STRAIT OF HORMUZ SEA MINES, FORMER CENTCOM OFFICIAL WARNS

The attacks came after Iran targeted Gulf energy infrastructure in retaliation for an Israeli strike on its South Pars gas field on Wednesday.

QatarEnergy said in several posts on X that missile and rocket attacks on its facilities at Ras Laffan Industrial City caused fires and extensive damage but no casualties.

Qatar is one of the world’s largest LNG exporters, accounting for nearly 20% of global supply, according to the U.S. Energy Information Administration.

IRAN WARNS EUROPEAN COUNTRIES WILL BE ‘LEGITIMATE TARGETS’ IF THEY JOIN CONFLICT

President Donald Trump said on his Truth Social platform that Israel would halt further strikes on Iran’s South Pars gas field unless Tehran escalates, warning that the United States could respond with overwhelming force if Qatar’s LNG facilities are targeted again.

“The United States of America, with or without the help or consent of Israel, will massively blow up the entirety of the South Pars Gas Field at an amount of strength and power that Iran has never seen or witnessed before,” Trump wrote. “I do not want to authorize this level of violence and destruction because of the long term implications that it will have on the future of Iran, but if Qatar’s LNG is again attacked, I will not hesitate to do so.”

Al-Kaabi told Reuters QatarEnergy declared force majeure on its entire LNG output following the attacks on Ras Laffan, allowing it to suspend deliveries due to the damage.

“For production to restart, first we need hostilities to cease,” he said.

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He also explained that the state-owned company will have to declare force majeure on long-term contracts for up to five years covering supplies to Italy, Belgium, South Korea and China due to damage to the two LNG trains.

“If Israel attacked Iran, it’s between Iran and Israel. It has nothing to do with us and the region,” al-Kaabi told Reuters. “And so now, in addition to that, I’m saying that everybody in the world, whether it’s Israel, whether it’s the U.S., whether it’s any other country, everybody should stay away from oil and gas facilities.”