Jubilant FoodWorks jumps 2.3% after Coca-Cola India buys into Hashtag Loyalty

Jubilant FoodWorks (File pic)

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26 Aug, 2025 12:21

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Shares of Jubilant FoodWorks climbed 2.26 percent to Rs 442.05 in morning trade on April 18 after Coca-Cola India acquired 15 percent stake in the company’s associate Hashtag Loyalty.

Hashtag has raised the capital at a pre-money valuation of Rs 104.68 crore, Jubilant FoodWorks said in a post-market hours regulatory filing on April 17.

Hashtag Loyalty is an associate of the country's leading QSR chain operator Jubilant FoodWorks Ltd, which has the master franchise rights of brands such as Domino's Pizza, Dunkin' and Popeyes. Hashtag owns food ordering platform Thrive.

"Hashtag Loyalty has entered into a securities subscription agreement with Coca-Cola India (new investor) pursuant to which the new investor has acquired 15 percent stake in Hashtag," the regulatory filing mentioned.

After the transaction, Jubilant FoodWork's stake in Hashtag has reduced to 29.75 percent from 35 percent.

Coca-Cola's partnership with the competitor of Zomato and Swiggy is said to benefit the beverage maker in increasing consumer engagement as Thrive has a partnership with over 12,000 restaurants across India.

Other investors backing Hashtag include thinQbate and Ahimsa Capital.

Jubilant FoodWorks’ stock has fallen around 12 percent on YTD basis, compared to a 3 percent drop for the Nifty. On a one-year basis, the stock has tumbled 22 percent.

In a recent report, Citi reiterated its 'buy' rating on Jubilant FoodWorks and set a target price of Rs 619 a share, indicating a 40 percent upside from current levels.

According to Citi's research, Jubilant Foodworks is well-positioned to benefit from market tailwinds, faster store expansion and digital investments. The recent pullback in the stock price presents a buying opportunity for long-term investors, it said.

ICICI Securities too has maintained its ‘buy’ rating on Jubilant FoodWorks on the back of expansion of its Popeyes chain of stores, value-for-money offerings and delivery.

It has a target price of Rs 630 for the stock. “Key downside risks are raw material costs turning inflationary and increase in competitive intensity,” it said in a recent note.