Shares of Westlife Development advanced 2 percent intraday Thursday as brokerage Axis Capital has maintained buy call on the stock with a target of Rs 450 per share.
According to firm, the company is on track to expand to 450-500 restaurants and 300-350 McCafes by FY22.
The company has revised FY22 sales target for McCafe and McDelivery combined and more confident on meeting margin of 13-15 percent by FY22.
Axis Capital believes that company continuing to benefit from uptick in consumer sentiment.
At 13:21 hrs Westlife Development was quoting at Rs 370.10, up Rs 0.75, or 0.20 percent on the BSE.
The share touched its 52-week high Rs 464.00 and 52-week low Rs 215.00 on 08 May, 2018 and 29 June, 2017, respectively.
Currently, it is trading 20.23 percent below its 52-week high and 72.16 percent above its 52-week low.
Posted by Rakesh Patil
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