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Shares of Westlife Development rose over 13% on Thursday after the firm unveiled a growth plan to mark its 25 years in India. Westlife Development stock opened with a gain of 13.67% at Rs 640 against the previous close of Rs 566.75 on BSE.
The quick-service restaurant, 55 per cent of whose stores are in malls, reported narrowing of losses in the June quarter to Rs 44.35 crore from a Rs 80.45 crore loss in the year-ago quarter. Sales soared 289 per cent YoY to Rs 149.7 crore. Gross margins came in at 65.2 per cent for the quarter, up 290 bps YoY but down 40 basis points sequentially.
Devyani International shares: The shares of the fast-food chain operator opened higher by 56 per cent at Rs 141 on the BSE and Rs 140.90 on the NSE, as against issue price of Rs 90 per share.
The IPO is being sold in the Rs 86-90 price band. Since the largest franchisee of KFC, Pizza Hut, and Costa Coffee is a loss-making firm, analysts are valuing it on metrics such as EV/Ebitda and EV/sales, and largely have a subscribe rating on the issue.
NEW DELHI: The Rs 1,838 crore IPO by Devyani International kicked off on Wednesday. On the block is a fresh issue of shares aggregating Rs 440 crore and an offer for sale (OFS) of up to 15.53 crore shares being sold in the Rs 86-90 price band. Last heard, the unlisted stock was commanding a grey market premium of Rs 63-65. Since the largest franchisee of KFC, Pizza Hut and Costa Coffee is a loss-making firm, analysts are valuing it on metrics such as EV/Ebitda and EV/sales, and largely have a subscribe rating on the issue. Some of them even suggest subscribing for listing gains.