ICICI Securities Recommends Tourism & Hospitality Stock For Return Up To 40%, Buy

ICICI Securities has recommended investors to buy large cap stock operating in Tourism & Hospitality sector, Jubilant FoodWorks Ltd with a target price of Rs 630 apiece. If you buy Jubilant FoodWorks Ltd share at current market price of Rs 449.40 apiece, you can get potential return of 40%. Check details below:

Jubilant FoodWorks Ltd Stock Performance & Return: Current market price of Jubilant FoodWorks Ltd is Rs 449.40 apiece on BSE with intraday gain of 0.55%. The stock's 52-week high is Rs 652.20 apiece and 52-week low is Rs 419.00 apiece, respectively. The company has a market capitalisation of Rs 29,653.44 crore. The stock declined 16% in last 3-months, 13% in last 1-year, and gave a return of 32% in last 3-years. In last 5-years, it soared over 122%.

Jubilant FoodWorks Ltd Valuation: According to ICICI Securities, "We forecast JUBI to add >100 stores in FY24. The market may eventually expand to accommodate both brands - Popeyes and KFC; however, KFC does have an air-pocket to tackle for now as we assign high probability of new Popeyes stores in same catchment as KFC. Maintain BUY with a DCF-based target price of Rs 630. Key downside risks are raw material costs turning inflationary and increase in competitive intensity."

Jubilant FoodWorks Ltd About: Jubilant FoodWorks Limited is part of the Jubilant Bhartia Group and is India's largest food service Company. The Company holds the master franchise rights for three international brands, Domino's Pizza, Dunkin' Donuts and Popeyes®addressing three different food market segments. The Company launched its first homegrown brand - Hong's Kitchen in Chinese cuisine segment. The Company also entered into the exciting world of Biryanis with the launch of "Ekdum!". It offers the widest range of Biryanis curated from various parts of India using authentic ingredients along with extensive range of Kebabs, Curries, Breads, Desserts and Beverages, according to its official website.

The stock has been picked from the brokerage report of ICICI Securities. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.