Market expert Sandip Sabharwal explained on ET Now that the recent “Deepinder Goyal shock” could settle, drawing comparisons to similar situations with other companies.
“This reminds me of when Elon Musk stepped back from Tesla to work with President Trump. The stock price dropped significantly as leadership is critically important. If a leader’s focus shifts to other things, investors get worried. We’ll have to see if the stock continues to fall and if that leads to changes or other developments,” sabharwal said.
He noted that the recent drop happened even after positive reports following the company’s earnings release.
“After the earnings were announced, analysts were very positive and most increased their earnings forecasts. Despite this, the stock price fell sharply. I still don’t think the earnings justify the current valuation. The stock isn’t cheap, but the main reason for this correction is the change in CEO,” he added.
Quick commerce has been a major factor in Eternal’s valuation, with investors expecting strong growth in the coming months. However, Sabharwal cautioned that
