Jubilant FoodWorks rose 1.14% to Rs 1,041.25 at 10:04 IST on BSE after the Reserve Bank of India allowed foreign institutional investors to purchase up to 55% of the paid-up capital of the company.
Meanwhile, the BSE Sensex was up 9 points, or 0.04%, to 22,493.93.
On BSE, so far 11,000 shares were traded in the counter, compared with an average volume of 12,797 shares in the past one quarter.
The stock hit a high of Rs 1,065 and a low of Rs 1,037.80 so far during the day. The stock hit a 52-week high of Rs 1,389.95 on 5 November 2013. The stock hit a 52-week low of Rs 928 on 18 June 2013.
The stock had underperformed the market over the past one month till 15 April 2014, rising 2.05% compared with the Sensex's 3.10% rise. The scrip had also underperformed the market in past one quarter, falling 9.90% as against Sensex's 5.62% rise.
The mid-cap company has an equity capital of Rs 65.44 crore. Face value per share is Rs 10.
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On Tuesday, 15 April 2014, the Reserve Bank of India (RBI) notified that Foreign Institutional Investors (FIIs), through primary market and stock exchanges, can now purchase up to 55% (revised from earlier limit of 49%) of the paid up capital of Jubilant FoodWorks under the Portfolio Investment Scheme (PIS).
Jubilant FoodWorks has passed resolutions at the board of directors' level and a special resolution by the shareholders, agreeing for enhancing the limit from 49% to 55% for the purchase of its equity shares and convertible debentures by FIIs, RBI said.
Further, RBI notified that the foreign share holding by FIIs, in Jubilant FoodWorks have gone below the revised threshold limit stipulated under the extant Foreign Direct Investment (FDI) policy. Hence, the restrictions placed on the purchase of shares of the above company are withdrawn with immediate effect.
Net profit of Jubilant Foodworks declined 10.88% to Rs 33.60 crore on 18.55% rise in net sales to Rs 456.51 crore in Q3 December 2013 over Q3 December 2012.
Jubilant FoodWorks and its subsidiary operates Domino's Pizza brand with the exclusive rights for India, Nepal, Bangladesh and Sri Lanka. The Company is India's largest and fastest growing food service company, with a network of 679 Domino's Pizza restaurants (as of 31st December, 2013).
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