Mutual funds, FIIs give thumbs-up to Jubilant Foodworks' Chinese play

Buy shares worth Rs 500 crore following the launch of Hong's Kitchen

Jubilant Foodworks’ foray into Chinese cuisine seems to have gone down well with institutional investors. On Thursday, domestic institutional investors and foreign institutional investors (FIIs) bought Rs 520 crore worth of shares of the company in block deals on the NSE. The heavy buying came on the back of the company announcing its entry into the Chinese cuisine segment with the launch of Hong’s Kitchen on Wednesday.

ICICI Prudential Mutual Fund (MF) and Kotak Mahindra MF were the biggest buyers. ICICI MF and Kotak Mahindra MF each bought more than Rs 100 crore worth of shares. Tata