Eternal share price, July 21 -- Despite a massive 90% year-on-year decline in the first quarter net profit and a sharp drop in the company's operating performance, Eternal (earlier Zomato) shares staged a smart 7% surge in trade on Monday, as investors overlooked the weakness in food delivery business and cheered the earnings show of its quick commerce arm - Blinkit.

Eternal share price traded in the green, almost 3% higher, for the majority of the session, but the sharp spike followed after the announcement of Q1 results. The stock jumped to Rs.276.80 in intraday deals, an upside of 7.55%. It finally settled the session with a solid gain of over 5% at Rs.271.20 on the BSE.

The rally followed as investors focused on the strong show in t...