Jubilant FoodWorks rises 3% after Sameer Khetarpal takes charge as CEO

Jubilant FoodWorks rises 3% after Sameer Khetarpal takes charge as CEO

Shares of (JFL) rose over 3 per cent in Tuesday’s trade after Sameer Khetarpal joined as its chief executive officer and managing director.

Earlier in May this year, JFL, which operates fast-food chains Domino’s Pizza and Dunkin’ Donuts, announced the appointment of Khetarpal as CEO and MD, both with effect from September 5, 2022, for a period of five years.

At 10.07 am, the scrip was trading 2.36 per cent higher at Rs 612.90 over the last day’s closing of Rs 598.75. The stock has risen nearly 156 per cent in the last three years and is up 16 per cent in the last three months.

For the quarter ended June 30 2022, the company reported revenue from operations of Rs 1,255.09 crore, up 40.51 per cent from the year-ago quarter’s Rs 893.18 crore. The company reported a net profit of Rs 112.58 crore for the latest quarter.

While the highest target for Jubilant FoodWorks goes up to Rs 850, according to Trendlyne data, the average estimate of Rs 640.9 shows an upside potential of around 7 per cent from current prices.

Out of the 26 analysts covering the stock, only three of them have a sell rating while 11 have a strong buy rating.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

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