Shares of Eternal Ltd are in focus on Tuesday, rising 4 per cent, after the company’s latest shareholding data showed a sharp increase in foreign investor headroom, a development that could pave the way for a higher weight in the and attract significant passive inflows.
The stock ended with 3.26 per cent increase at 294.55 on the NSE, soaring to a high of ₹297.30 against the previous close of ₹285.25.
Based on the latest shareholding data, the foreign headroom in Eternal has now risen above the 25 per cent threshold, making the stock eligible for full MSCI weightage. Any such change will likely be reflected in the February MSCI review and could potentially trigger passive inflows of around $390 million, according to reports.
The development comes at a time when Eternal’s shares have been under pressure, having corrected from record highs amid investor concerns over the profitability of its quick commerce business and intensifying competition in the segment. Despite the recent pullback, brokerage sentiment on the stock remains firmly positive.
Market participants will closely watch the upcoming February MSCI review for any change in Eternal’s index weight, which could provide fresh support to the stock.