Jubilant FoodWorks plunges 12% as brokerages downgrade stock post CEO exit

Shares of Jubilant FoodWorks plunged 14.6 per cent and hit a fresh 52-week low of Rs 2,444 per share on the BSE in Monday's intra-day trade as most brokerages downgraded the stock post CEO Pratik Pota's resignation. The stock settled 12 per cent lower at Rs 2,513 apiece as against 1.7 per cent rise in the benchmark S&P BSE Sensex. 

According to analysts chief executive officer Pratik Rashmikant Pota's resignation is a setback for the company, especially in the near-term, as the company faces macro headwinds in the form of sticky inflation, higher probability of significant increase in petrol /