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Barbeque-Nation Hospitality is the eighteenth title to be listed on the stock exchange this calendar year 2021
Barbeque-Nation Hospitality’s share price, backed by Rakesh Jhunjhunwala, jumped again by 20% on Friday to Rs 839 each. The title hit the top 20% circuit for the third day in a row since listing. Shares of the newly listed casual dining company traded low earlier this week at Rs 492 per share, against the IPO price of Rs 500 per share. However, stocks surged to a 20% higher circuit on the day of listing in midday trades. As the stock rallied 68% from the IPO price, analysts advised investors to sell the Barbeque-Nation Hospitality stock. “Whoever has the stock should sell. The development of the share price indicates extreme speculative activity, ”investment adviser Sandip Sabharwal told UK Time News Online. He also added that valuations, even in a normal economic scenario without foreclosure, are prohibitive.
Barbeque-Nation Hospitality is the eighteenth stock to go public this calendar year 2021 and the first to debut in the new fiscal year 2021-22. Since listing, the total market cap of the casual restaurant chain company has rallied 43 percent to Rs 2,648.84 crore from Rs 1,847 crore on day one. Barbeque Nation Hospitality reported a net loss in three of the previous four budgets. Analysts believe the second wave of the COVID-19 pandemic has increased the risk of even slower growth in the near term.
Last month, Barbeque Nation Hospitality raised Rs 452 crore from the show and was subscribed almost 6 times. Upon registration, Barbeque-Nation Hospitality joined the likes of Jubilant FoodWorks, Westlife Development, Specialty Restaurants and Burger King India. As of December 31, 2020, the company had 147 Barbeque Nation restaurants, six international Barbeque Nation restaurants and 11 Italian restaurants, nine of which are operated under the ‘Toscano’ brand name and one each under the ‘La Terrace’ brand names. ‘and’ Collage ‘. . respectively.
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