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    What’s Buzzing: Jubilant Foodworks at record high, here’s why

    market | IST

    What’s Buzzing: Jubilant Foodworks at record high, here’s why

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    Jubilant Foodworks stock is at a record high, the valuations are expensive but a lot of the brokerages are positive on the medium-term to long-term prospects of the stock.

    Jubilant Foodworks’ store addition pace has picked up, which is a positive from medium-term to long-term. In Q3, 50 new Domino’s outlets were opened and in Q4, 46 new outlets were opened. This is something that's definitely a positive.
    The business saw recovery in April and May. The delivery business grew 37 percent and 56 percent respectively in April and May.
    Strong management changes that were announced was also a positive thing for the company. Pratik Pota, the CEO of the company, has been reinstated for the next few years. The company has hired Ashish Goenka as CFO from Hindustan Unilever Ltd (HUL), and Gaurav Pandey as the business head for Popeye. Rajdeep Kohli has been appointed as Chief Business Officer for Domino’s.
    The stock is at a record high, the valuations are expensive but a lot of the brokerages are positive on the medium-term to long-term prospects of the stock.
    Watch the accompanying video of CNBC-TV18’s Mangalam Maloo for more details.
    Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
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