Jubilant FoodWorks share price climbs 2%, hit fresh 52-week high
The stock got traction after the company's December quarter numbers showed decent growth despite the slowdown in the economy.
January 31, 2020 / 12:15 PM IST
A day after logging healthy gains of 5 percent, the price Jubilant FoodWorks maintained its upward trajectory and climbed over 2 percent to hit a fresh 52-week high of Rs 1,875.85 in intraday trade on BSE on January 31.
The stock got traction after the company's December quarter numbers showed decent growth despite the slowdown in the economy and a fall in consumer demand.
The company's standalone profit grew 7.5 percent at Rs 103.7 crore from Rs 96.5 crore in the same period last year. Standalone revenue from operations grew 14.1 percent YoY to Rs 1,059.6 crore.
Domino's same-store-sales growth stood at 5.9 percent for the quarter, largely in line with Street estimates of 5-7 percent.
Brokerages were mixed on the stock after the quarterly earnings were released.
Citi gave a buy rating, raising the target price to Rs 2,020 from Rs 1,655 per share, while Morgan Stanley gave an 'overweight' rating, with a target of Rs 1,900.
Credit Suisse has an 'underperform' view on the stock, with a target price of Rs 1,460, raised from Rs 1,300 per share.
Kotak Institutional Equities downgraded the stock to add from buy but raised the target price to Rs 1,900 from Rs 1,600 per share.Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.