Jubilant Foodworks: As the markets open, the Nifty has crossed the 22,800 mark for the first time. This peak comes afresh after three, even as Zee’s Business Managing Editor shares his opinions. The market expert has bet on a couple of stocks, which include Petronet LNG, Power Grid, Ramco Cements, Gland Pharma, and Jubilant Foodworks. The pizza company has a current market price of Rs. 445.65, which is expected to increase.
Incorporated in 1995, Jubilant Foodworks Ltd. has a market cap of Rs. 29283.93 crores. The pizza-making company is in the Tourism and Hospitality Services sector and offers products such as pizzas, beverages, and Desserts.
Business and Financials
As per reports, the pizza company’s Consolidated Total Earnings amounted to Rs. 1,382.27 Crores at the end of the final quarter of FY23. Comparing this to the previous quarter, Jubilant Foodworks saw a 48% jump in earnings, up from 1,375.69 crores. The company also reported a 3.05% increase in revenues, compared to the same quarter from FY22, with a total income of Rs. 1,341.48 crores. Profit After Tax reported was 50.2 crores for the latest quarter, as promoters held a 41.94 percent stake in the quarter ending December 31, 2023, while FIIs owned 27.75 percent, and DIIs owned 21.91 percent.
The market wizard from Zee Business News suggests betting on Jubilant Foodworks Futures with support levels between Rs. 420 and Rs. 470 and higher test levels between Rs. 492 and Rs. 497.
The average target for the pizza company is Rs. 605, with a consensus estimate that it is down by 6.85% from Rs. 649.50.
For more context, shares of the Domino’s Pizza owner jumped 2.5% during the intraday trading session of December 21, 2022, following the announcement of the 20-minute delivery service across 20 zones, spanning 14 cities and a plan to expand services.
Conclusion
The Zee Business News Editor has also shared valuable insights on other stocks. For instance, in April 2023, the editor handpicked a list of five stocks for long-term investment, where some of those stocks had yielded returns ranging from 65% to 77%. The chosen stocks included Tata Motors, Larsen & Toubro, and DLF, among others. Not only these, but the market wizard also listed stocks where investors could make the most out of the pause in interest rates, and SBI, ICICI, and HDFC Bank were also among the stocks listed.
Jubilant Foodworks Ltd
