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Burger King Shares Climb 8% After Hitting Lower Circuit For The Third Straight Session
On Monday, shares of Burger King India rose as much as 8% to an intraday high of Rs 171.65 after hitting lower circuit in early trade. The stock has turned positive after the steep sell-off since Thursday.
In early morning trade, shares of the recently listed fast-food chain hit 10% lower circuit of Rs 145.35.
Burger King India was listed on BSE and NSE on 14 December at a stellar premium of over 92% at Rs 115.35 when compared to its issue price of Rs 60.
They hit upper circuits for the next three sessions, and scaled an all-time high of Rs 219.15 on 17 December, before reversing gains and hitting lower circuit on the same day as some analysts warned investors and advised them to keep booking the profit. Burger King India's listing was the fourth-best in 2020 so far.
The top three listings were by Chemcon Speciality Chemicals, Happiest Minds Technologies Route Mobile with up to 114% listing premium.
Burger King India is still up more than 169% from its issue price.
