Eternal Ltd (formerly Zomato) issued a statement on Thursday addressing reports claiming that food delivery CEO Rakesh Ranjan has stepped down, clarifying that Ranjan has not resigned and continues to be a part of the company’s leadership team.
In a filing with the BSE, Eternal described the change as part of routine internal leadership reshuffling, aimed at enhancing organizational efficiency. The company’s founder and Group CEO, Deepinder Goyal, will temporarily oversee the food delivery vertical. Ranjan, who has been with the Gurugram-based company for nearly eight years, was named CEO in June 2023.
This update comes shortly after the company announced the exit of COO Rinshul Chandra last week.
On the market front, Eternal’s stock rose 0.31% to ₹239.95, marking a 7.75% gain over the past month. The stock is currently trading above its 5-, 10-, 20-, 30-, and 50-day simple moving averages (SMAs), though still below its longer-term 100-, 150-, and 200-day SMAs. The 14-day RSI stands at 67.36, indicating the stock is approaching overbought territory.
According to BSE data, the company has a P/E ratio of 129.59, a P/B value of 9.59, and EPS of ₹1.85, with a return on equity (RoE) of 7.38%. Market intelligence platform Trendlyne reports a 1-year beta of 0.9, suggesting low volatility in the stock’s performance.
