Buy Jubilant Foodworks, target price Rs 2900: Kotak Securities

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Buy Jubilant Foodworks, target price Rs 2900:  Kotak Securities


Kotak Securities has buy call on Jubilant Foodworks with a target price of Rs 2900. The current market price of Jubilant Foodworks Ltd. is Rs 2766.2.

Jubilant Foodworks Ltd., incorporated in the year 1995, is a Large Cap company (having a market cap of Rs 36460.41 Crore) operating in Tourism & Hospitality sector.

Financials
For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 816.33 Crore, up 110.17 % from last quarter Sales of Rs 388.41 Crore and down -18.21 % from last year same quarter Sales of Rs 998.05 Crore Company reported net profit after tax of Rs 75.78 Crore in latest quarter.

Investment Rationale
The stock has formed higher bottom at 2703 and quickly reversed back to earlier resistance. In the past also it has formed several such series. It’s a buy at current levels.

Promoter/FII Holdings
Promoters held 41.94 per cent stake in the company as of Sept 30, 2020, while FIIs held 37.86 per cent, DIIs 14.45 per cent and public and others 5.75 per cent.





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