Jubilant FoodWorks rose 3.17% to Rs 1,407.10 at 11:48 IST on BSE on reports that a foreign brokerage has increased the target price on the stock to Rs 1,900 from Rs 1,600.
Meanwhile, the S&P BSE Sensex was up 36.67 points or 0.12% at 31,485.70. The S&P BSE Mid-Cap index rose 65.14 points or 0.43% at 15,157.76.
On the BSE, 91,000 shares were traded on the counter so far as against the average daily volumes of 87,735 shares in the past one quarter. The stock had hit a high of Rs 1,444 so far during the day which is a 52-week high. The stock hit a low of Rs 1,387.15 so far during the day. The stock had hit a 52-week low of Rs 761 on 26 December 2016.
The stock had outperformed the market over the past one month till 14 August 2017, advancing 8.34% compared with the Sensex's 1.79% fall. The stock had also outperformed the market over the past one quarter, gaining 38.57% as against the Sensex's 4.18% rise. The scrip had also outperformed the market over the past one year, advancing 57.52% as against the Sensex's 11.71% rise.
The mid-cap company has equity capital of Rs 65.98 crore. Face value per share is Rs 10.
As per reports, the foreign brokerage has also raised the target PE multiple on Jubilant FoodWorks to 60, from 55.
Jubilant FoodWorks' net profit rose 25.5% to Rs 23.84 crore on 11.5% growth in net sales to Rs 678.82 crore in Q1 June 2017 over Q1 June 2016.
Jubilant FoodWorks is part of Jubilant Bhartia group and India's largest food service company with a network of Domino's Pizza restaurants pan India. The company & its subsidiary have the exclusive rights to develop and operate Domino's Pizza brand in India, Sri Lanka, Bangladesh and Nepal. The company also has exclusive rights for developing and operating Dunkin' Donuts restaurants for India.
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