Westlife Development share price rises 13% on Rs 1,000-crore expansion plan
The share touched a 52-week high of Rs 683.55 and a 52-week low of Rs 360 on September 24, 2021 and October 27, 2020
October 14, 2021 / 10:41 AM IST
Westlife Development share price rose 13 percent in the morning trade on October 14 after the owner and operator of McDonald’s restaurants unveiled a growth plan to mark its 25 years in India.
Westlife Development plans to invest Rs 800-1,000 crore in various businesses and open about 200 outlets over the next three-four years.
“In the last 25 years, the company has made a significant mark in the country and is looking forward to bigger strides in the coming years. The company will look at adding another 150-200 stores in the next three-four years,” Amit Jatia, Vice-Chairman, Westlife Development, said.
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The investment would go towards increasing the footprint, menu innovations, strengthening the company’s supply chain, increasing its omnichannel presence and elevating consumer experience, the company said.
All these initiatives are expected to create 6,000-8,000 direct and indirect jobs in the industry, Jatia said.
At 1027 hours, Westlife Development was quoting at Rs 591.60, up Rs 24.85, or 4.38 percent, on the BSE.
The share touched a 52-week high of Rs 683.55 on September 24, 2021 and a 52-week low of Rs 360 on October 27, 2020. It is trading 13.45 percent below its 52-week high and 64.33 percent above its 52-week low.