Barbeque-Nation Hospitality is the eighteenth stock to list on the stock exchanges this calendar year 2021
Rakesh Jhunjhunwala-backed Barbeque-Nation Hospitality share price surged 20 per cent again on Friday to Rs 839 apiece. The stock hit the 20 per cent upper circuit for the third straight day since listing. The newly-listed casual dining company’s shares made a weak listing earlier this week at Rs 492 per share, as against the IPO price of Rs 500 per share. However, the shares surged to hit a 20 per cent upper circuit on the listing day in the noon deals. As the stock has rallied 68 per cent from the IPO price, analysts have advised investors to sell the Barbeque-Nation Hospitality stock. “Whoever has the stock should sell. The stock price move indicates an extreme speculative activity,” Investment advisor Sandip Sabharwal told Financial all british casino Online. He also added that valuations, even in a no lockdown normal economic scenario, are prohibitive.
Barbeque-Nation Hospitality is the eighteenth stock to list on the stock exchanges this calendar year 2021 and the first to debut in the new financial year 2021-22. Since listing, the total market capitalisation of casual dining restaurant chains company has rallied 43 per cent to Rs 2,648.84 crore from Rs 1,847 crore on debut day. Barbeque Nation Hospitality has reported a net loss in three out of the four previous fiscals. Analysts believe that the second COVID-19 pandemic wave has raised the risk of further slower growth in the near term.
Last month, Barbeque Nation Hospitality raised Rs 452-crore from the issue and was subscribed nearly 6 times. Upon listing, Barbeque-Nation Hospitality has joined the likes of Jubilant FoodWorks, Westlife Development, Speciality Restaurants and Burger King India. As of December 31, 2020, the company had 147 Barbeque Nation Restaurants, six International Barbeque Nation Restaurants and 11 Italian Restaurants of which nine are operated under ‘Toscano’ brand name and one each under the brand names ‘La Terrace’ and ‘Collage’. respectively.
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