JSW Steel, Titan, Asian Paints, Nestle and Eicher Motors gained 2-3 per cent each on the BSE
The benchmark indices have surrendered most of their early-morning gains and turned flat, amid bouts of choppiness. At 1:40 pm, the BSE Sensex had surrendered almost 300 points from intra-day high of 50,961.35 and was trading at 50,682.35, up 32.62 points and the NSE Nifty was at 15,221.25, up 23.25 points or 0.1 per cent. The broader markets were trading mixed, with the BSE Midcap index shedding 0.2 per cent and the BSE Smallcap index adding 0.3 per cent.
On the economy front, Barclays cut its full-year 2021-22 economic growth forecast for India by 80 basis points to 9.2 per cent, saying the toll from stringent lockdowns imposed to curb rising COVID-19 infections appeared to be bigger than earlier expectation.
Shares of Barbeque Nation Hospitality were locked in 20 per cent upper circuit at Rs 767.50 on the BSE on Tuesday, after the company s reported consolidated Ebitda (earnings before interest, taxes, depreciation, and amortisation) more than doubled at Rs 56.1 crore in the March quarter (Q4FY21). The company, one of the leading casual dining chains in India, had Ebitda of Rs 24.6 crore in the year-ago quarter.
The company’s consolidated revenues grew 18.5 per cent year on year (YoY) at Rs 226 crore, while same store sales grew 19.9 per cent during the quarter. In Q4FY21, Ebitda margins improved to 24.8 per cent from 12.9 per cent in Q4FY20. On sequential basis, Ebitda margins contracted 70 basis points (bps) from 25.5 per cent in Q3FY21.
Explained: Why Barbeque Nation stock hit 20% upper circuit today
Explained: Why Barbeque Nation stock hit 20% upper circuit today
Shares of Barbeque Nation Hospitality surged 20 per cent and hit the upper circuit on the BSE earlier in the day. Find out why the leading dining chain s stock hit the upper circuit on Tuesday.
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UPDATED: May 25, 2021 15:29 IST
Barbeque Nation Hospitality had recently made its stock market debut after an initial public offering. (Photo: Twitter/@BarbequeNation)
Shares of leading dining chain Barbeque Nation Hospitality surged 20 per cent and hit the upper circuit at Rs 767.50 on the Bombay Stock Exchange on Tuesday, compared to the previous close of Rs 639.60.
Read more about Stocks to watch: Tata Steel, Hero MotoCorp, Concor, United Spirits, Grasim on Business Standard. Grasim Industries, India Cements, JK Paper, Mahanagar Gas and Barbeque-Nation Hospitality are among 33 companies slated to post their quarterly numbers today