India: Blinkit’s explosive growth has turned into a massive jackpot for Eternal CEO and co-founder Deepinder Goyal, who saw his net worth rise by ₹2,000 crore in just two trading sessions. This sharp increase comes after Eternal’s stock price soared over 21%, hitting a new all-time high of ₹311.60 on the NSE.
From Startup Hustler to Billionaire CEO
At 42, Deepinder Goyal now holds an estimated net worth of ₹11,515 crore ($1.9 billion), as per Forbes’ real-time billionaire list. Goyal owns a 3.83% stake in Eternal, which gained massive value as investors poured money into the quick-commerce boom being led by Blinkit.
Blinkit Surpasses Zomato in Order Volume
The game-changing moment? Blinkit has overtaken Zomato in net order value (NOV) — a significant milestone showing how Eternal’s business focus is shifting. This not only validates Goyal’s long-term vision but also puts Blinkit at the centre of India’s quick commerce revolution.
Thanks to the rally, Eternal’s market cap crossed ₹3 lakh crore, overtaking iconic names like Wipro, Tata Motors, Nestlé India, and Asian Paints.
Brokerages Turn Bullish on Eternal
After Blinkit’s stellar performance, top brokerages have upgraded their outlook on Eternal:
Jefferies upgraded Eternal to Buy with a raised target of ₹400. It admitted earlier misjudging Blinkit’s potential and now sees Eternal as a strong player in India’s digital commerce and food delivery market.
Goldman Sachs maintained its Buy rating and increased the target price to ₹340, pointing to Blinkit’s 25% quarter-on-quarter GOV (Gross Order Value) growth and a target of 3,000 new stores.
CLSA also held on to its Outperform rating, raising its target to ₹385 and calling Blinkit’s growth a “seismic shift” in Eternal’s strategy.
Ripple Effect Across the Sector
The market rally also lifted associated companies. Info Edge, which holds a 12.38% stake in Eternal, gained over 3%. That stake now accounts for over one-third of Info Edge’s entire market cap.
Even rival Swiggy saw a 7% uptick in its valuation as investor optimism spilled over across the quick-commerce and food delivery sector.
Goyal’s Bold Bet Pays Off
Despite Eternal’s mixed Q1 results, analysts are backing the company’s strong pivot to quick commerce. Most agree that Deepinder Goyal’s leadership is pushing the company into a high-growth phase, powered by Blinkit’s momentum and market leadership.