Eternal's extreme 670X P/E ratio hasn't deterred retail investors from accumulating shares on dips.

Eternal's extreme 670X P/E ratio hasn't deterred retail investors from accumulating shares on dips. Retail holdings increased to 5.64% in March quarter despite the stock declining 13% over two quarters and falling 30% from its peak of Rs 368.45. The stock currently trades at Rs 246.60, below its 200-day moving average. Meanwhile, mutual funds have aggressively increased stakes from 16.4% to 28.9% over five quarters, while foreign institutional investors reduced holdings from 52.5% to 32.6%. Eternal's Q4FY26 results showed strong fundamentals with consolidated net profit surging 346% YoY to Rs 174 crore and revenue jumping 196% YoY to Rs 17,292 crore. The company's full-year revenue reached Rs 54,364 crore, up 169% from previous year.