Burger King India operator Restaurant Brands Asia shares surged over six percent after 1.5 crore shares change hands in a large trade on August 1, 2024.
Around 1.5 crore shares of the QSR player, amounting to 2.8 percent equity worth Rs 168.5 crore, were exchanged at the price of Rs 113 per share. Moneycontrol could not immediately ascertain the buyers and sellers of the deal.
From the previous session's closing price of Rs 108, this block deal occurred at a premium of 4.6 percent per share. Trading volumes surged to six times of the three-month full-day average.
Restaurant Brands Asia shares climbed as much as 6.2%, the most since July 3. At 12.30 pm on August 1, the shares were quoting at Rs 112.72 apiece, higher by 4.4 percent on the NSE.
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In the first quarter ended June, Restaurant Brands Asia's revenue from operations came in at Rs 490.5 crore, higher by 16 percent year-on-year. The QSR major added 60 stores over the year, but added only one store on a sequential basis.
The firm's losses widened to Rs 26.94 crore during the quarter, up from Rs 22.2 crore during the same period last year.
Over the past year, Restaurant Brands Asia shares have slipped around 3 percent in trade. In comparison, the frontline index Nifty 50 has surged around 25 percent during the same time period.
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