Jubilant FoodWorks slides as promoter offloads stake

Jubilant FoodWorks lost 2.87% to Rs 1,161.10 at 15:02 IST on BSE after promoter Jubilant Consumer offloaded stake in the company via bulk deals on the NSE yesterday, 28 April 2016.

Meanwhile, the S&P BSE BSE sensex was down 19.80 points or 0.08% at 25,583.30.

On BSE, so far 1.33 lakh shares were traded in the counter as against average daily volume of 40,705 shares in the past one quarter. The stock hit a high of Rs 1,219.65 and a low of Rs 1,122.65 so far during the day. The stock had hit a 52-week low of Rs 896.65 on 12 February 2016. The stock had hit a record high of Rs 1,984 on 17 July 2015. The stock had underperformed the market over the past one month till 28 April 2016, sliding 1.16% compared with Sensex's 2.55% rise. The scrip had also underperformed the market in past one quarter, declining 2.7% as against Sensex's 4.63% rise.

The mid-cap company has equity capital of Rs 65.80 crore. Face value per share is Rs 10.

Promoter Jubilant Consumer sold 23.70 lakh shares of Jubilant FoodWorks at Rs 1,279.37 per share in a bulk deal on the NSE yesterday, 28 April 2016. Credit Suisse (Singapore) bought 22.85 lakh shares of the company at Rs 1,279.06 per share.

Jubilant Consumer held 48.67% stake in Jubilant FoodWorks as per the shareholding pattern as on 31 March 2016.

Jubilant FoodWorks' net profit declined 9.3% to Rs 31.75 crore on 14.3% growth in net sales to Rs 633.76 crore in Q3 December 2015 over Q3 December 2014.

Jubilant FoodWorks and its subsidiary operates Domino's Pizza brand with the exclusive rights for India, Nepal, Bangladesh and Sri Lanka.

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