Devyani surges 29% in 3-days, stock up 111% from issue price in 4 months

On Wednesday, December 8, 2021, the brokerage firm Motilal Oswal Financial Services initiated coverage on Devyani with a Buy rating and target price of Rs 190.

Shares of Devyani International continued their northward journey for the third straight trading day, and were up 8 per cent at Rs 190.20 on the BSE in Thursday’s intra-day trade.

The stock of the quick service restaurant (QSR) firm was trading at its new high, and has rallied 29 per cent in the last three trading days. With the current surge in market price of the company, the stock has zoomed 111 per cent from its issue price of Rs 90 per share.

Devyani International had made a stock market debut on August 16, 2021. The Global Index