Buy Jubilant Foodworks on dips: Nitin Mathur

Nitin Mathur of Espirito Santo told CNBC-TV18, "We have a neutral rating on Jubilant Foodworks where we are recommending the investors to pick up stock on dips. The macros are deteriorating, so this whole tapering of same-store sales growth does not come as a surprise to us. The company has taken out some promotions in the December quarter as well as taken some price increases as well, so clearly the impact was seen in this quarter."

At 13:13 hrs Jubilant Foodworks was quoting at Rs 1,061.75, down Rs 33.25, or 3.04 percent.

The share touched its 52-week high Rs 1,389.95 and 52-week low Rs 928 on 05 November, 2013 and 18 June, 2013, respectively.