Shares of Jubilant Foodworks today plunged nearly 7% amid reports suggesting that the company might face stiff competition and lower margins in the near term.
After making a weak opening, shares of the company plummeted 8.21% to Rs 1,131.80 during the day on the BSE. It finally ended at Rs 1,149.90, down 6.74%.
On the National Stock Exchange, the scrip closed 6.34% lower at Rs 1,155.40.
In terms of volume, 2.83 lakh shares of the company were traded on the BSE, while more than 13 lakh shares changed hands on the NSE.
According to reports, Jubilant Foodworks is a strong company but could face stiff competition and lower margins in the short term.
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