A maturing market amid the mayhem
Strong debut for Jubilant Foodworks
Jubilant Foodworks, which runs the Dominos Pizza outlets in India, made a strong trading debut on Monday, closing more than 50 percent above the issue price of 145 rupees.
Shares in the Indian fast food chain touched a high of 241.95 rupees during trade before closing at 229 rupees.
It was the most traded counter on both the BSE and the NSE with a total volume of over 85 million shares.
The company also reported a surge in Oct-Dec net profit to 113.7 million rupees, compared with 17.7 million rupees a year ago. The firm has opened 55 new stores in the current fiscal and plans to open another 10-15 by March 31.
Seeing the sharp rise in the counter on the first day of listing, would you invest some money in its shares?