Jubilant Foodworks shares gain; BofA starts with 'buy' rating

Shares in Jubilant Foodworks gained after Bank of-America Merrill Lynch started coverage with a "buy" rating and a target of Rs 1,375. Bank of-America Merrill Lynch said the company was in a sweet spot in the large and high-growth quick service restaurants market. Jubilant has the franchisee of Domino's Pizza and Dunkin' Donuts in India. The company's earnings can more than double by FY17, the investment bank said in a report. Jubilant Foodworks' stock ended up 6.2 per cent at Rs 1,209.80.