Jubilant FoodWorks trades weak even as promoters decide not to take royalty

The stock was down 3 per cent to Rs 1,263, falling 6 per cent from its intra-day high on the BSE.

Shares of Jubilant FoodWorks slipped 3 per cent to Rs 1,263 apiece, falling 6 per cent from its intra-day high on the BSE, even as the promoters of food service major decided not to charge a royalty from the firm within hours of announcing that they would. The stock was up 3 per cent higher at Rs 1,344 on the BSE in early morning trade.

"Jubilant Enpro Pvt. Ltd. (a promoter group company), has decided not to charge the corporate brand royalty of 0.25 per cent of the consolidated revenues of the Company and the same stands withdrawn," the