Foodworks foods will consider splitting its equity stocks, which currently has a nominal value of Rs 10 respectively, at the company's board meeting on February 2, is said to be submitting an exchange on friday
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Stock split increases the number of company shares without diluting its value, with each stock available at a lower price than the current value (Rs 10 per share in this case). After split, stock looks more affordable and less frightening for investors, which leads to an increase in demand.
Jubilant FoodWorks shares jumped into the green area after a fast food operator announced a split proposal for its shares. The Board will also consider the company's revenue for the quarter ended December 31, 2021.
Food shares Jubilant collected as much as 2.8 percent in BSE to the highest intraday RS 4,027.35 after development, showing investors had welcomed the proposal.
At 2:00 p.m., the domino pizza operator shares in India rose 0.27 percent at Rs 3928.55 in BSE, after trading red for most of Friday sessions. In NSE, stock traded 0.23 percent higher at Rs 3,927.50.
The upward movement in stock appears in a weaker trading session with sensex benchmarks and nifty50 in red due to weaknesses in most sectors.
Food Jubilant shares have provided a return investor of more than 41.5 percent last year due to 23 percent refund sensex over the period.
Earlier in December 2021, Global Broker Morgan Stanley has stated that despite high-stock assessment, the market will continue to pay to benefit strong market share, technology platforms, income growth
strategies and expand markets that can be addressed.
Food service companies hold the right franchise for three international brands, Domino's Pizza, Dunkin 'Donuts and Popeyes, handling three different food market segments.
Foodworks foods currently operate more than 1,435 outlets for Domino's Pizza, Dunkin 'Donuts and Hong's Kitchen and are market leaders in the pizza segment.
In October 2021, the Indian train catering board and tourism Corporation (IRCTC) decided to divide its stock in a ratio of 1: 5, cut the nominal value of Rs 10 to Rs 2 respectively. The IRCTC shares watched a massive rally, up almost 16 percent higher on the stock day traded ex-split.
deepak singh