Jubilant FoodWorks inches up as RBI allows hike in FII limit

Jubilant FoodWorks is currently trading at Rs. 1045.00, up by 15.45 points or 1.50 % from its previous closing of Rs. 1029.55 on the BSE. The scrip opened at Rs. 1055.00 and has touched a high and low of Rs. 1065.00 and Rs. 1037.80 respectively. So far 9697 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1389.95 on 05-Nov-2013 and a 52 week low of Rs. 928.00 on 18-Jun-2013. Last one week high and low of the scrip stood at Rs. 1055.00 and Rs. 1013.00 respectively. The current market cap of the company is Rs. 6737.28 crore. The promoters holding in the company stood at 49.58 % while Institutions and Non-Institutions held 46.69 % and 3.73 % respectively. The Reserve Bank of India (RBI) has permitted Foreign Institutional Investors (FIIs) to purchase up to 55% of the paid-up capital in Jubilant FoodWorks, which operates Domino’s Pizza brand in the country. The limit has been enhanced from earlier 49% that FIIs could acquire under the portfolio investment scheme (PIS) from primary market. The company has passed resolutions at the board of directors’ level and a special resolution by the shareholders, agreeing for enhancing the limit from 49% to 55% for the purchase of its equity shares and convertible debentures by FIIs. Jubilant FoodWorks and its subsidiary operates Domino’s Pizza brand with the exclusive rights for India, Nepal, Bangladesh and Sri Lanka.