Buy Jubilant Foodworks, target price Rs 2850: Kotak Securities

Kotak Securities has buy call on Jubilant Foodworks with a target price of Rs 2850. The current market price of Jubilant Foodworks Ltd. is Rs 2787.6. Time period given by analyst is Intra Day when Jubilant Foodworks Ltd. price can reach defined target.

Jubilant Foodworks Ltd., incorporated in the year 1995, is a Large Cap company (having a market cap of Rs 36572.58 Crore) operating in Tourism & Hospitality sector.

Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 1085.15 Crore, up 28.01 % from last quarter Total Income of Rs 847.68 Crore and down -.22 % from last year same quarter Total Income of Rs 1087.53 Crore. Company reported net profit after tax of Rs 123.92 Crore in latest quarter.

Investment Rationale
Post correction, the stock is trading in its demand zone. Subsequently, candlestick patterns indicate bullish activity at the lower range.

Promoter/FII Holdings
Promoters held 41.94 per cent stake in the company as of Sept 30, 2020, while FIIs held 37.86 per cent, DIIs 14.45 per cent and public and others 5.75 per cent.