 "Jubilant FoodWorks slips after CEO Ajay Kaul resigns")
Jubilant FoodWorks has slipped 8% to Rs 924 on the BSE in early morning trade after the company announced that Ajay Kaul, Chief Executive Officer (CEO) cum Wholetime Director of the company resigned. The stock was trading close to its 52-week low of Rs 897 hit on February 12, 2016 in intra-day trade.
“Ajay Kaul has decided to step down as the CEO & Wholetime Director of the company to evaluate and pursue opportunities outside the Jubilant Bhartia group,” Jubilant FoodWorks said in a BSE filing.
He will continue in his current role till March 2017, it added.
In past one-month, the stock has underperformed the market by falling 25%, as compared to 2% rise in the S&P BSE Sensex.
Jubilant FoodWorks which is the master franchisee of Domino's and Dunkin' Donuts in India had reported decline of 3.2% in its same-store sales growth (SSG) for the first quarter of financial year 2016-17, lowest in seven quarters. The company had posted 4.6% year-on-year growth in SSG during the same period previous year.
At 10:13 am, the stock was down 7% at Rs 936 on the BSE, as compared to 0.29% decline in the S&P BSE Sensex. The trading volumes on the counter more than doubled with a combined 2.58 million shares changed hands on the BSE and NSE so far.
“Ajay Kaul has decided to step down as the CEO & Wholetime Director of the company to evaluate and pursue opportunities outside the Jubilant Bhartia group,” Jubilant FoodWorks said in a BSE filing.
He will continue in his current role till March 2017, it added.
In past one-month, the stock has underperformed the market by falling 25%, as compared to 2% rise in the S&P BSE Sensex.
Jubilant FoodWorks which is the master franchisee of Domino's and Dunkin' Donuts in India had reported decline of 3.2% in its same-store sales growth (SSG) for the first quarter of financial year 2016-17, lowest in seven quarters. The company had posted 4.6% year-on-year growth in SSG during the same period previous year.
At 10:13 am, the stock was down 7% at Rs 936 on the BSE, as compared to 0.29% decline in the S&P BSE Sensex. The trading volumes on the counter more than doubled with a combined 2.58 million shares changed hands on the BSE and NSE so far.
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