Barbeque-Nation’s share price reaches the upper circuit of 20% for a third consecutive day, up 68% from the IPO price

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Barbeque-Nation Hospitality is the eighteenth title to be listed on the stock exchange this calendar year 2021

The share price of Barbeque-Nation Hospitality, backed by Rakesh Jhunjhunwala, again jumped 20% on Friday to Rs 839 each. The title hit the top 20% circuit for the third day in a row since listing. Shares of the newly listed casual dining company traded low earlier this week at Rs 492 per share, against the IPO price of Rs 500 per share. However, stocks surged to a 20% higher circuit on the day of listing in midday trades. As the stock rallied 68% from the IPO price, analysts advised investors to sell the Barbeque-Nation Hospitality stock. “Whoever has the stock should sell. The development of the share price indicates extreme speculative activity, ”investment adviser Sandip Sabharwal told The Bharat Express News Online. He also added that valuations, even in a normal economic scenario without foreclosure, are prohibitive.

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Barbeque-Nation Hospitality is the eighteenth title to go public this calendar year 2021 and the first to debut in the new fiscal year 2021-22. Since listing, the total market cap of the casual restaurant chain company has risen 43% to Rs 2,648.84 crore from Rs 1,847 crore on the day of its debut. Barbeque Nation Hospitality reported a net loss in three of the previous four budgets. Analysts believe the second wave of the COVID-19 pandemic has increased the risk of even slower growth in the near term.

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Last month, Barbeque Nation Hospitality raised Rs 452 crore from the show and was subscribed almost 6 times. Upon registration, Barbeque-Nation Hospitality joined the likes of Jubilant FoodWorks, Westlife Development, Specialty Restaurants and Burger King India. As of December 31, 2020, the company had 147 Barbeque Nation restaurants, six international Barbeque Nation restaurants and 11 Italian restaurants, nine of which are operated under the ‘Toscano’ brand name and one each under the ‘La Terrace’ brand names. ‘and’ Collage ‘. respectively.

(The recommendations in this article are made by the respective research and brokerage firm. The Bharat Express News Online assumes no responsibility for their investment advice. Please consult your investment advisor before investing.)

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