Domino’s Operator Jubilant FoodWorks Sets Record Dividend Date; Know the details

QSR (quick service restaurant) company, Jubilant Foodworks, a large-cap company in the fast-moving consumer goods (FMCG) sector, has set July 11 as the record date. It is a subsidiary of the Jubilant Bhartia Group and India’s largest food company, with franchise agreements for three global brands: Domino’s Pizza, Dunkin’ Donuts and Popeyes.

“This follows our letter dated 30 May 2022, in which it was advised that the board of directors of Jubilant FoodWorks Limited, at its meeting held on 30 May 2022, had among other things recommended the dividend for the financial year 2021-22 subject to shareholder approval at the following Annual General Meeting (“AGM”) Pursuant to Regulation 42 of the Listing Rules, the Company has set Monday July 11, 2022 as the record date for the purpose of determining the names of members eligible for a dividend of Rs 1.20/- (i.e. 60%) per share of the par value of Rs. 2/- each for the financial year 2021 -22. Dividend after shareholder approval will be paid/dispatched within 30 days from the date of the AGM and also subject to withholding tax,” the company said in a BSE filing.

Stock price history

Its stock price has significantly underperformed industry and equity indices over the past year. The stock trades at a 12-month forward PE of 55.2x versus BSE Consumer Discretionary and BSE Sensex, which trade at 28.9x and 17.8x, respectively. .

Over the past year, the stock has fallen 23.50%, and year-to-date (YTD) so far in 2022, the stock has fallen 32.00%. Over the past 6 months the stock has fallen 27.17%, but over the past month the stock has risen 2.39% and over the past 5 trading days the stock has fallen 3, 75%. On the NSE, shares of Jubilant Foodworks reached a 52-week high of Rs 918.00 on October 18, 2021 and a 52-week low of Rs 451.20 on May 12, 2022, indicating that the stock is currently trading with a 45 percent discount. percent from its 52-week high and above 10.15% from its 52-week low. Jubilant Food is trading below the 5-day, 20-day, 50-day, 100-day and 200-day moving averages based on today’s closing price.

Should you invest?

ICICI Direct has given a “Sell” tag to the stock in the range of Rs 495 – Rs 498 Target Rs 430 and StopLoss Rs 531.1. Over the past six months, Jubilant Foodworks has been under constant sales pressure based on delivery. Open interest in the stock, which rose sharply in the recent rally, has started to wane, suggesting a long selloff. Current open interest in the stock is still high and closing positions could trigger further declines. Additionally, aggressive call writing is visible near the ATM strikes. While the stock has fallen below its main selling base of 500, further selling is likely in the action over the coming sessions.

The stock closed at Rs 497 in today’s trading session, up 1.31% from its previous close of Rs 490.55.

The views and investment advice of the experts in this report are their own and not those of the website or its management. Users are advised to check with certified experts before making any investment decision.

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