Blinkit Boom Makes Deepinder Goyal ₹2,000 Cr Richer in Just 48 Hours

Billionaire Deepinder Goyal’s net worth has jumped by around Rs 2,000 crore in just 2 days following a blistering rally in Eternal shares. As investors welcomed the explosive growth seen in its quick commerce arm Blinkit, Eternal shares have jumped over 21% in the last two days and even hit a fresh all-time high of Rs 311.60 on NSE.

Eternal’s 42-year-old founder and CEO Goyal, a self-made billionaire, has seen the value of his holding in the new-age company soar to Rs 11,515 crore by virtue of his 3.83% stake in the company.

According to Forbes list of real-time billionaires, the IITian’s net worth is now estimated to be $1.9 billion.

During the day, Eternal shares also crossed the Rs 3 lakh crore market capitalization mark and are now more valuable than the likes of Wipro, Tata Motors, Nestle and Asian Paints.

The boom in Eternal shares also had a positive impact on rival Swiggy, which rallied over 7% during the day.

Info Edge, which owns about 12.38% stake in Eternal, also rallied over 3% as the Sanjeev Bikhchandani-owned company’s stake in the new-age stock is now more than one-third of its own market capitalisation.

Eternal’s target prices have been dramatically revised upward, with top brokerages now eyeing Rs 400 as Blinkit is now bigger than Zomato in net order value (NOV) terms.

Jefferies made the most aggressive move, upgrading Eternal to BUY with a target price raised to Rs 400 and admitted that it overestimated the competitive threat.

“Eternal is a play on the growing food services industry in India and increasing adoption of digital commerce.

With only -23mn monthly transacting users currently, Eternal’s food delivery has a long runway for customer acquisition and revenue growth. Blinkit is the market leader in the fast-growing quick-commerce space and is set to see sharp margin improvement in the steady state,” the global brokerage said.

While Q1 was mixed, management commentary was significantly positive, especially on quick commerce, a departure from earlier quarters, it noted.

Goldman Sachs jumped on the bandwagon, maintaining its Buy rating while raising the target price to Rs 340.

The investment bank is raising B2C GOV estimates by up to 6% post 1QFY26 following Blinkit’s explosive performance. “Blinkit’s strong 1Q GOV growth (+25% qoq, in line with GSe), & new guidance of 3000 stores (timeline unspecified) suggests demand continues to stay elevated,” Goldman analysts wrote in a note.

CLSA maintained its high conviction outperform rating with a target of Rs 385 and said the milestone of Blinkit becoming bigger than food delivery represents a seismic shift in Eternal’s business dynamics.