Last Friday, something interesting happened on Dalal Street. While most stocks were kind of sluggish, investors seemed pretty excited about one—Eternal. You might know it better as Zomato. Its stock closed at ₹238.75 after rising more than 5%. That’s not a small move. It was like a sudden burst of energy in an otherwise sleepy market.
Zomato (Now Eternal) Sees Heavy Buying Amid Market Slowdown
As it happens, BNP Paribas Financial Markets intervened with a massive block deal. They purchased more than 6 crore company shares. Even though the market wasn’t really moving much that day, this one deal turned Eternal into the spotlight. People noticed. And when big names buy, others usually follow.
Block Deal Worth ₹1,489 Crore Sparks Stock Surge
Following data analysis, BNP Paribas purchased roughly 6.24 crore shares at a price of ₹238.25 each. The transaction was valued at a total of ₹1,489 crore. That’s a serious chunk of money. Moves like this don’t happen every day, and they usually make headlines. No surprise the stock went up.
March Quarter: Zomato Posts ₹39 Crore Profit, Blinkit Losses Rise
Now, if you look at Eternal’s quarterly report, the company made ₹39 crore profit in the Jan–March quarter of FY 2024–25. But wait—last year during the same period, it made ₹175 crore. That’s a bit of a decrease. On the flip side, revenue went up from ₹3,562 crore to ₹5,833 crore. But expenses rose too, hitting ₹6,104 crore. Also, Blinkit, their fast-delivery arm, saw more losses than before. It’s a bit of a mixed bag.
BNP Paribas Sells Nykaa Shares for ₹504 Crore
Interestingly, BNP Paribas wasn’t just buying. In another deal, they sold shares of FSN E-Commerce Ventures, which runs Nykaa. They let go of 2.48 crore shares at ₹202.81 each—making the deal worth ₹504 crore. So while they poured cash into Zomato, they quietly pulled out of Nykaa.