Barbeque-Nation rises for second day

Barbeque-Nation Hospitality rose 1.24% to Rs 1,342.20, advancing for second day in a row.

The stock has added 11.36% in two sessions, from its recent closing low of Rs 1,205.25 recorded on 27 December 2021.

In the past three months, the stock has gained 19.72% while the benchmark Sensex fell 2.67% during the same period.

On the technical front, the stock's RSI (relative strength index) stood at 46.173. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

The stock was trading above its 100-day and 200-day simple moving average (SMA) placed at 1278.04 and 959.73, respectively. It is, however, trading below its 50-day SMA placed at 1431.40.

Barbeque Nation is a food services company. It currently owns and operates 169 outlets across India and 3 other countries. The company pioneered the format of 'over the table barbeque' concept in Indian restaurants. The company has a majority stake in 'Red Apple Kitchen', which operates 10 Italian cuisine restaurants under the popular brand 'Toscano'.

The company reported a consolidated net profit of Rs 2.92 crore in the quarter ended September 2021 as against net loss of Rs 36.19 crore during the previous quarter ended September 2020. Sales rose 190.30% YoY to Rs 220.89 crore in Q2 FY22.

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