Shares of this fast-food chain jumped 14 percent to hit their 52-week high on Friday after a huge Block Deal that likely took place pertaining to the company’s shares. In the past month, the company’s scrip has gained more than 13 percent.
With a market capitalization of Rs 6,427.35 crores, the stocks of Restaurant Brands Asia Limited started their trading session on Friday at Rs 133.30 and currently trade at Rs 129.95.
The scrip witnessed an intra-day high, also marked as the company’s new 52-week high mark, of Rs 137.85, indicating a gain of around 14 percent compared to the previous close of Rs 120.70 apiece.
Such sharp movements in the company’s stock price were observed after a CNBC report mentioned a Block Deal that likely took place pertaining to the company’s shares. Around 12.54 crore equity shares, equating to a 25.4 percent stake, exchanged hands aggregating to Rs 1,494 crores.
During the recent quarters, the company has been able to increase its operating revenues from Rs 513.95 crores during Q4FY22-23 to Rs 610.78 crores during Q1FY23-24. Moreover, the bottom line numbers, though negative, have reduced from a loss of Rs 79.96 crores to a loss of Rs 54.05 crores keeping the timeframe the same.
The company has drastically their debt-to-equity ratios in the past few financial years transitioning from 3.25 times during FY20-21 to 0.2 times during FY22-23.
According to the shareholding pattern data available for the June 2023 quarter, the company’s Promoters hold a 40.8 percent stake, and, the Foreign Institutional Investors (FIIs) hold a considerable stake of 27.37 percent in the company.
Restaurant Brands Asia Limited, the fastest-growing international Quick Service Restaurant (QSR) chain in India, is engaged in the consumer food business providing fast food burgers. The company develops as well as operates under the brand name “Burger King” in India with a single business segment, i.e., “Restaurants and Management”.
Written by Amit Madnani
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
To stay updated with the Latest Stock Market news, download our app here!
For editorial purposes, contact email@example.com
Start Your Stock Market Journey Today!
Want to learn Stock Market trading and Investing? Make sure to check out exclusive Stock Market courses by FinGrad, the learning initiative by Trade Brains. You can enroll in FREE courses and webinars available on FinGrad today and get ahead in your trading career. Join now!!