BSE Code: | NSE Code: | ISIN: | Sector:
Research Report Detail
|Report Date||Call||Price@Call||Target Price
|Current Status||Time Horizon|
|Closed|| Long (1Y)
Nomura maintains reduce on Jubilant Foodworks
Nomura has maintained reduce call on Jubilant Foodworks for target price of Rs 919. It believes that the core business remains challenging for Jubilant. Dunkin' continues to incur losses, and with Jubilant having closed down 29 stores in the past one year, implies that it has gone back to the drawing board. We have always believed that fundamental changes like store formats and menu are needed to stabilise the business, and it may be a long-term challenge. We do not share management's optimism on Dunkin', and believe it will likely take longer than envisaged to move on to the growth path, adds Nomura.