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What is the story about?
Shares of Eternal Ltd., the parent of Zomato and Blinkit, were trading about 4% higher on Wednesday, April 1, recovering after two straight sessions of decline.
The stock is in focus after Blinkit launched its quick commerce service at Chhatrapati Shivaji Maharaj International Airport, marking a first-of-its-kind initiative for the segment globally.
The service is currently available at Terminal 2 (domestic departures), allowing travellers to order from a catalogue of over 2,500 products, including phone chargers, travel essentials, books, gifts, and other last-minute items.
Unlike standard airport retail or typical dark store inventories, the offering is specifically curated for travellers, catering to immediate, on-the-go needs within the airport environment.
ALSO READ | CLSA upgrades this IT stock on hopes of strong growth versus peers
Orders can be placed via the Blinkit app and are fulfilled by a dedicated team of in-terminal delivery personnel, ensuring quick delivery directly to passengers within the terminal.
Blinkit CEO Albinder Dhindsa said the service has been launched in partnership with Adani Airports, enabling operations within a security-restricted airport setting.
The company has deployed a specialised "walker" model for deliveries, replacing its typical bike-based logistics to suit terminal constraints.
With this, Mumbai Airport becomes the first globally to offer such an in-terminal quick commerce service.
On the brokerage front, JM Financial recently called the stock a buying opportunity for investors with a 12-18 month horizon, recommending accumulation at current levels.
The brokerage said that the stock is now trading at around 35x its estimated FY28 earnings.
It added that earlier weakness in the stock was driven by concerns around leadership changes, rising competition in quick commerce, and broader macro pressures, including potential AI-led disruptions and geopolitical uncertainties.
Despite these challenges, JM Financial expects Eternal, particularly its Blinkit business, to emerge stronger once macro conditions stabilise.
The stock is in focus after Blinkit launched its quick commerce service at Chhatrapati Shivaji Maharaj International Airport, marking a first-of-its-kind initiative for the segment globally.
The service is currently available at Terminal 2 (domestic departures), allowing travellers to order from a catalogue of over 2,500 products, including phone chargers, travel essentials, books, gifts, and other last-minute items.
Unlike standard airport retail or typical dark store inventories, the offering is specifically curated for travellers, catering to immediate, on-the-go needs within the airport environment.
ALSO READ | CLSA upgrades this IT stock on hopes of strong growth versus peers
Orders can be placed via the Blinkit app and are fulfilled by a dedicated team of in-terminal delivery personnel, ensuring quick delivery directly to passengers within the terminal.
Blinkit CEO Albinder Dhindsa said the service has been launched in partnership with Adani Airports, enabling operations within a security-restricted airport setting.
The company has deployed a specialised "walker" model for deliveries, replacing its typical bike-based logistics to suit terminal constraints.
With this, Mumbai Airport becomes the first globally to offer such an in-terminal quick commerce service.
On the brokerage front, JM Financial recently called the stock a buying opportunity for investors with a 12-18 month horizon, recommending accumulation at current levels.
The brokerage said that the stock is now trading at around 35x its estimated FY28 earnings.
It added that earlier weakness in the stock was driven by concerns around leadership changes, rising competition in quick commerce, and broader macro pressures, including potential AI-led disruptions and geopolitical uncertainties.
Despite these challenges, JM Financial expects Eternal, particularly its Blinkit business, to emerge stronger once macro conditions stabilise.
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