Jubilant FoodWorks extends fall; down 15% in three trading sessions

Shares of Jubilant FoodWorks, which operates the Domino’s franchise, dipped 5% to Rs 1,155 on Wednesday, extending its 10% fall in the past two trading days, on concerns of rising employee expenses and higher base and more intense competition from food aggregators.

Last week, India’s largest online food-ordering service, Swiggy, raised a mammoth $1 billion in fresh funding led by South African internet and media conglomerate Naspers. Swiggy plans to use the capital to grow its supply chain, apart from investing in new initiatives such as setting up cloud kitchens.

The rising scale of food aggregators (Swiggy and