Devyani International shares rally: Shares of leading chain Quick Service Restaurant, Devyani International, jumped as much as 5.34 per cent to Rs 191.10 during intra-day trading on Friday. The company’s stock continued to trade northward, and as of around 11:20 am, it was quoted at Rs 186.55, up 2.84 per cent from its previous close of Rs 181.40 on the BSE. However, Devyani International shares are still 17 percent lower than their 52-week high of Rs 227.75, which was touched on September 11, 2024, on the BSE.
At the time of writing, nearly 105.78 lakh equities worth approximately Rs 197.60 crore were reported to have exchanged hands on the NSE, while on the BSE, 6.60 lakh equities worth approximately Rs 6.60 crore were traded.
The northward movement in the stock price came on the news of block deals involving 42,46,671 shares of the company, worth nearly Rs 79.34 crore, according to reports.
Meanwhile, the company has also issued a clarification and has requested a waiver of the Rs 2,000 (plus GST) fine imposed by the exchanges BSE and NSE, pertaining to the approval of shareholders for the re-appointment of a Non-Executive Director who attained the age of seventy-five years.
“We would like to further inform that the Company is in the process of submitting applications to BSE and NSE requesting a waiver of fines since the Company is in compliance with the provisions of Regulation 17(1A) of the SEBI Listing Regulations,” Devyani International said in an exchange filing on the BSE.
Devyani International, among the fastest-growing chain Quick Service Restaurant (QSR) operators in the country, is the largest franchisee for Yum Brands (KFC & Pizza Hut) in India. The company is also the sole franchisee for the Costa Coffee brand and stores in India. As of June 30, 2024, DIL operates more than 1,830 stores across brands in over 250 cities in India, Thailand, Nigeria, and Nepal.
Devyani International commands a market capitalisation of Rs 22,592.95 crore on the BSE, as of August 23, 2024. The company is a constituent of the BSE 500 index.
Shares of Devyani International have a 52-week range of Rs 227.75 – 142.05 on the BSE.
Devyani International shares have advanced 13.68 per cent in the last month, 22.33 per cent in the last three months, and 16.13 per cent in the last six months, while they dropped 4.30 per cent in the last one year, as per the BSE analytics.
First Published: Aug 23 2024 | 11:38 AM IST
