Restaurant Brands Asia Trades 52-Week High On Rs 1,494 Cr Block Deal

Shares of Restaurant Brands Asia hit its fresh 52-week high after reports surfaced that 25% of its equity exchanged hands in a major deal. According to a report by CNBC-TV18, Everstone, promoter entity of Restaurant Brands Asia is the likely seller in the transaction that has sold the entire 25% stake. Earlier, in June quarter, Everstone held 25% stake in Restaurant Brands Asia.

Restaurant Brands Stock Outlook & Return: Current market price of Restaurant Brands Asia share is Rs 129.85 per share with intraday rally of 7.58% on BSE at the time of writing the story. Restaurant Brands Asia shares opened at 133.30 apiece on BSE, touched day's high of Rs 137.85 per share, and day's low of Rs 129.00 per share, respectively.

The company has a market capitalisation of Rs 6422.40 crore. Restaurant Brands Asia shares soared 6% in last 1-week, gained 5% in last 2-weeks, and offered 20% return in last 3-months. Restaurant Brands Asia stock offered return of 39% in last 6-months, soared 13% YTD, and gave return of 2% in last 1-year. In last 2-years, Restaurant Brands Asia shares declined 20%.

Earlier this year on August 23, 2023, the company issued a BSE filing saying it considered and approved the appointment of Ms. Roshini Bakshi as an Additional Non-Executive Director on the Board of the Company with effect from August 23, 2023.

Restaurant Brands Financials: The company announced a net loss of Rs 50.5 crore for the April-June quarter of financial year 2024 as on August 7, as against Rs 47.5 crore declared in the corresponding quarter of the last financial year. It occurred as a result of Burger King's India branch dealing with soaring raw material costs with high spending on more stores. Meanwhile, total revenue declared at Rs 611 crore, soaring 25% from Rs 489.2 crore in the year-ago quarter, according to its regulatory filing.

Restaurant Brands About: Restaurant Brands Asia Limited was originally incorporated as Burger King India Private Limited on November 11, 2013 at Mumbai. Later on it converted into a Public Limited Company and name of the Company was changed to Burger King India Limited on September 25, 2019. It was changed from Burger King India Limited to Restaurant Brands Asia Limited with effect from February 2, 2022. It is engaged in the business of Quick Service Restaurants under the brand name of Burger King and is presently a subsidiary of QSR Asia Pte. Ltd.