New Delhi, Sept. 22 -- Deepinder Goyal-led Eternal (earlier Zomato) has been on a steady climb, gaining nearly 24% year-to-date (YTD). This rise has helped the food delivery-to-quick commerce giant hit fresh record highs in the Indian stock market, making it more valuable than a host of other prominent companies like Adani Power, Hindustan Aeronautics, Titan, Tata Motors and NTPC.

Eternal shares, which have been in an uptrend for the last six months, including September, have seen multiple tailwinds, ranging from strong financials, growing dominance in the quick commerce (QCom) space and a rise in discretionary spending.

According to estimates from Motilal Oswal Financial Services (MOSL), food delivery (FD) growth slowed due to weak con...