- Summary:
- Eternal Ltd slips 2% after rebrand as markets await clarity on strategic direction; key support at ₹210 holds amid cautious sentiment.
Shares of Eternal Ltd, formerly known as Zomato, fell nearly 2% following the official update of its name across Indian stock exchanges. The rebrand marks a bold strategic move by the food delivery major as it transitions toward becoming a broader digital ecosystem player.
The name change reflects the company’s ambition to expand beyond food tech into financial services, e-commerce, and AI-driven consumer platforms. While the long-term narrative positions the rebrand as forward-looking, the market’s initial reaction suggests investors are still digesting the implications of such a pivot.
Eternal Ltd Technical Analysis
- Current Price: ₹211.50
- Resistance Levels: ₹213.00 – ₹215.70 – ₹219.40
- Support Zones: ₹210.00 – ₹207.20 – ₹204.80
- RSI: 36.45 – nearing oversold, could attract dip buyers
- Trend: Weak near-term momentum below ₹213.00; neutral bias unless support at ₹210.00 fails
Outlook: Support Holding, But Market Needs More Than a Name
Eternal Ltd’s rebrand drew attention but not commitment from the market. Without fresh revenue drivers or vertical launches, the stock may remain in a wait-and-see zone. ₹210 is acting as the key near-term support—holding it keeps consolidation in play. A breakdown below this could trigger a slide toward ₹204.80. For upside momentum to resume, bulls must reclaim ₹213.00, ideally backed by volume and forward-looking guidance from management.
Investors aren’t reacting to the rebrand itself—they’re watching for signals that Eternal Ltd is more than just a new name.