Zomato parent Eternal to swap Adonmo stake for ₹156 crore Mygate shares
Eternal is in focus.
· BS Companies
Eternal will exchange its entire Adonmo stake for Mygate shares valued at Rs 156 crore and transfer its going-out India business to a subsidiary for Rs 130.76…
The analysis
Eternal reported ₹156 crore and Rs 130.76 crore. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.
Against that, the stock is -2.5% on the day at ₹312.35, and has returned +9.0% over three months. It sits 9% below its 52-week high. The hotels & restaurants sector has moved -1.4% over the same period, so Eternal is running 10.4 points ahead of its peers.
For Eternal, the question is how much of this is already reflected in the price and how much re-rates the hotels & restaurants peer set alongside it.
Market context
- The company directly in focus is ETERNAL.
- Sector exposure: Hotels & Restaurants.
In this story
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