Jubilant FoodWorks gains 3.5% on expanding presence in India

Domino's Pizza inaugurated its first restaurant in Gorakhpur and Udaipur which are a popular tourist destinations.

Shares of Jubilant FoodWorks are trading 3% higher at Rs 1,267 on the BSE after the company announced the inauguration of Domino's Pizza maiden restaurant in Gorakhpur and Udaipur.

 

Domino's Pizza, a market leader in the organized pizza market,  inaugurated its first restaurant in Gorakhpur (UP) and Udaipur (Rajasthan) which are popular tourist destinations.

 

With a network of 795 Domino's Pizza shops in 166 cities, Jubilant Food Works and its subsidiaries have exclusive rights to develop and operate Domino's Pizza brand in India, Sri Lanka, Bangladesh and Nepal.

 

In the last one year, Domino's Pizza exclusively franchised to Jubilan Foodworks in India. has aggressively expanded its presence in the tier II cities of the country, such as Aligarh(UP), Rajamudhry (Andhra Pradesh), Hoshiarpur(Punjab) Belgaum (Karnataka) among others.

 

"Over the last decade, we have been fastest growing food service company in India and have successfully pioneered innovative concepts and products for the Indian taste palette," said Mr Harneet Singh Rajpal, Senior vice-pesident, marketing, Domino's pizza India.

 

On BSE, stocks opened at Rs 1,234 and hit a high of Rs 1,278 while a combined 80,000 shares have changed hands on both BSE and NSE, so far.