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Eternal, a publicly traded company, has approved a cap on foreign portfolio investor (FPI) shareholding at 49.5%. This strategic decision initially caused the company's shares to decline by nearly 2%, but subsequent brokerages and analysts have expressed a bullish outlook, particularly highlighting potential margin expansion. Goldman Sachs issued a positive note emphasizing the margin upside for Blinkit, a related entity, following Eternal's move to limit foreign ownership. On the day after the announcement, Eternal's shares surged 4% to close at Rs 243.4, reflecting renewed investor confidence.
Shares of #Eternal surged 4% to Rs 243.4 on Tuesday after a bullish note from Goldman Sachs highlighted potential margin upside for Blinkit following the company's proposal to cap foreign shareholding at 49.5%.
#OnETNOW | #Eternal caps FII ownership at 49.5%, Karan Taurani breaks down what this strategic move means for investors and the stock. #WATCH Watch the full interview here: https://t.co/WUVgpRKImz @elaracapital @karantaurani @_sherylld @SrishtiSharma_ #Zomato https://t.co/t5wc315C1m
Eternal moves to cap FPI shareholding to 49.5%, brokerages bullish on margin expansion Read more on👇 https://t.co/nvnk4zMRQy #FPI #Stocks #Shares #Markets