Eternal Share Price Rallies 4.5%; India's Quick Commerce TAM Expected to Reach $57 Billion by 2030

Eternal (formerly Zomato), the food aggregator, experienced a notable 4.5% surge in its share price on Thursday, June 5, 2025. The stock reached an intraday high of ₹258.3 on the NSE, marking a continuation of its two-day rally, bringing its total increase to approximately 8%. This upward movement represents the highest share price level the company has achieved since January 16, 2025.

Eternal Share Price Performance

The rally in Eternal's share price was accompanied by significant trading volumes. A total of around 12.77 crore shares were traded on the NSE during the session, setting a new record for the highest single-day trading volume in the past 4 trading sessions. 

India’s Quick Commerce Market Growth

As per the Morgan Stanley report, India’s quick commerce market's total addressable market (TAM) is expected to reach a substantial $57 billion by 2030, up from its previous estimate of $42 billion. 

This revision is primarily driven by factors such as faster customer acquisition, expansion into new cities beyond the top metros, and stronger-than-expected gross order value (GOV) growth. The quick commerce sector is expected to play a significant role in driving the broader growth of the e-commerce industry in India.

Read More: GRSE Share Price Hits 52-Week High Following MoUs with Aries Marine and Global Engine Manufacturer. 

How Eternal is Growing to Address the Quick Commerce Growth

To address the growing market, Eternal has demonstrated a strong commitment to expansion by adding 294 net new stores in Q4FY25, which marks the highest-ever net store addition in a single quarter for the company. 

This contributes to the overall network of 1,301 stores, of which around 40% are relatively new and underutilised, having opened in just the last 2 quarters (216 stores in Q3FY25 and 294 in Q4FY25). In addition, the company has bolstered its operations by adding 1 million sq ft of new warehousing space to accommodate this rapid store expansion.

Despite this aggressive growth, the company has managed to improve its contribution margin from 3.8% to 3.9% of NOV (net operating value).

Conclusion 

In conclusion, Eternal (formerly Zomato) experienced a notable 2-day rally, with its share price rising by 8%. On June 5, 2025, the stock surged by 4.5%. This marked the highest share price level since January 16, 2025. 

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