Barbeque Nation Hospitality locked in 20% higher circuit for second day

Barbeque Nation, definitely one of India's leading informal eating restaurant chains, raised Rs 453 crore via its IPO.

April 08, 2021 / 03: 03 PM IST

Casual eating restaurant chain operator Barbeque Nation Hospitality's fragment impress used to be locked in a 20 p.c higher circuit on April 8 for the second consecutive session after its stock market debut.

Buying and selling used to be frozen in initial hours on April 8 and remained up 20 p.c, despite the reality that the circuit used to be opened in behind morning deals for few minutes.

The stock traded at Rs 708.45, rising by Rs 118.05 or 19.99 p.c, with a volume of 6.41 lakh equity shares at 1434 hours .

On April 7, it made a oldschool start nonetheless straight away moved higher to alternate with 20 p.c beneficial properties and closed at Rs 590.40 in opposition to the mission impress of Rs 500 a fraction.

One in all India's leading informal eating restaurant chains, Barbeque Nation raised Rs 453 crore via its IPO final month, which subscribed factual six cases, a subdued response when when put next with supply public provides.

The firm owns and operates Barbeque Nation Restaurants, Toscano Restaurants and You and Barbeque ('UBQ') by Barbeque Nation. As of December 2020, the firm had 164 ingesting places owned and operated by them.

"The firm's operations were impacted final year because of pandemic led lockdowns. The firm has taken numerous initiatives to beat the challenges in conjunction with fee optimisation, form out supply alternate, as correctly as updated their BBQ App," Siddhartha Khemka, Head – Retail Compare, Broking & Distribution at Motilal Oswal Financial Companies acknowledged.

The firm has reported gain loss in three of the four old fiscals. "That apart, the second wave of the pandemic has raised the fret of extra slower boost within the near term. Whereas valuations seem cheap, investors ideal with a protracted-term horizon might well presumably ogle on the stock," he acknowledged.

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