New Delhi, July 22 -- A surprise show from quick commerce unit Blinkit lifted shares of Eternal Ltd to a record on Tuesday, pushing its market capitalization to the highest level since its 2021 public listing.

Eternal, the parent of Zomato, began as a food delivery startup under founder Deepinder Goyal in 2008. Over the years, it has evolved into a broader consumer tech platform spanning quick commerce, dining-out experiences through District, and 10-minute food delivery via Bistro.

"The competitive intensity in quick commerce has witnessed some pullback due to lower cash burn by a key competitor. While the possibility of more fund-raise and cash burn by the competitor remains, Blinkit is still well-positioned to achieve adjusted Ebitda...