India, Dec. 26 -- The shares of Eternal, the parent of food aggregator Zomato, are in focus after Jefferies projects a strong 70 percent upside from its current level. In this article, we will try to understand the rationale behind this uptick.

Delta Exchange banner With a market capitalisation of Rs 2,71,175 crore, the shares of Eternal Ltd are trading at Rs. 282, down 1.30 percent from its previous day's closing price of Rs 284.80 per share.

The brokerage feels that although competition noise has risen due to the fundraises by competitors and the IPO talk of the new players, it is very unlikely that this will result in an aggressive price war.

Those players that are listed will be under scrutiny to demonstrate profitability, and new ...