Tag: growth prospects

Shares of Jubilant FoodWorks gained 7 percent intraday and hit a new high of Rs 4166.40 on the BSE on Wednesday on strong growth prospects. The stock price of the Quick Service Restaurant (QSR) company rallied over 34% in the past month due to robot quarterly performance in the first quarter of FY22 (Q1FY22) and healthy growth prospects. Jubilant Foodworks Ltd, operates three international brands, Domino’s Pizza, Dunkin' Donuts, and Popeyes. Jubilant FoodWorks aims to “transform itself into a food-tech powerhouse” after reporting a robust recovery from the second COVID wave, the company said. For Q1FY21, JFL reported a consolidated net profit of Rs 69.06 crore in the first quarter ended June 30, It had posted a consolidated net loss of Rs 74.47 crore in the same quarter last fiscal. Its revenue from operations in the first quarter stood at Rs 893.19 crore as compared to Rs 388.41 crore in the corresponding period last year Read more

Behind the stocks rally seen on Dalal Street since late April lurks a nagging worry about growth prospects of the economy, which puts the market at risk of a sudden U-turn. A top Nomura analyst on Tuesday flagged this worry, saying that the equity risk premium remains high, which shows that investors are a worried lot. “India needs a big push from the government to revive the COVID-19-hit economy,” say experts. The government needs to spend on infrastructure in a big way to revive growth as corporates are not investing at this point in time. This came a day after Moody's Investors Service downgraded India’s sovereign credit rating for the first time in more than two decades. The latest official data showed the economy grew at 4.2 percent in FY20, the slowest rate in 11 years. Read more