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Informist, Wednesday, Apr. 30, 2025

By Anjana Therese Antony

MUMBAI – The options chain of Eternal shows that traders are unsure about the near-term gains in Eternal, formerly known as Zomato. Premiums across call and put options of the company fell ahead of its March quarter results due Thursday. The Indian equity market is shut Thursday for Maharashtra Day. Ahead of the earnings, shares of Eternal closed 0.6% higher at INR 232.52 Wednesday on the National Stock Exchange. 

Analysts have different views about the Haryana-based company's bottom line for the reporting quarter, with the estimates ranging from a net loss of INR 771 million by ICICI Securities to a net profit of INR 1.81 billion by Motilal Oswal Financial Services. The average of estimates from nine broking firms shows that Eternal is likely to post a sharp 81% on-year decline in its bottom line to INR 328 million.

The company's consolidated revenue is seen rising 65% from the previous year to INR 58.76 billion, as per estimates. Sequentially, the bottom line is seen falling 44% and the top line rising 9%. Continued investments and higher costs on its quick delivery business under Blinkit is likely to weigh on the company's bottom line, according to earnings preview reports from broking firms. 

In the options chain of Eternal, premiums on INR 240-INR 265 call options expiring in May fell 2-4% and those on INR 230-INR 180 put options declined 7-9%. The call as well as put contracts at INR 230 strike price have the highest addition of open interest of 1.62 million and 1.91 million, respectively. The futures contracts of Eternal also hinted at near-term haziness about the stock's movement. Traders exited some long positions from the May series and open interest fell 5% to 2.28 million. 

--Nifty 50 May closed at 24380.00, down 45.30 points; 45.80-point premium to the spot index

--Nifty 50 Jun closed at 24484.00, down 43.10 points; 149.80-point premium to the spot index

--Nifty 50 Jul closed at 24618.00, down 45.50 points; 283.80-point premium to the spot index

Bajaj Finance, Reliance Industries, State Bank of India, HDFC Bank, IndusInd Bank, Infosys, Trent, Maruti Suzuki India, Bajaj Finserv, Kotak Mahindra Bank, Tata Motors, ICICI Bank, Hindustan Aeronautics, Bharti Airtel, Eternal, Varun Beverages, Federal Bank, and Vedanta were the most active underlying stocks Wednesday.  End

Edited by Rajeev Pai

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