Hold Jubilant FoodWorks With Stop Loss Of Rs 270

ubiliantStock market analyst Pankaj Jain of Satguru Capital has maintained `hold' rating on Jubilant Foodworks Ltd stock.

According to Mr. Jain, the investors can exit on any rally.

Today, the stock opened at Rs 285.05 on the Bombay Stock Exchange (BSE).

Jubilant FoodWorks, which runs Pizza delivery major Domino's in India, has recorded net profit of Rs 33 crore during the fiscal ended March 31.

Moreover, Jubilant FoodWorks added that it planned to launch 70 stores in the existing fiscal.

During the fiscal ended March 31, the company made total income of Rs 424.3 crore, up 51% from last year.

The company added that the optimistic growth numbers were because of an increase in same-store sales and opening of new stores.

Jubilant FoodWorks, which lifted up approx Rs 330 crore from a recent IPO offer, eyes to expand its wings to new cities.

The chain has about 300 stores in India, out of which over 230 have sit-in facilities as against their strategy globally, where the main focus has been on home delivery.