Devyani International shares rise: Shares of leading Quick Service Restaurant chain Devyani International rose as much as 5.34 per cent to Rs 191.10 during intraday trade on Friday. The company’s shares continued to trade northwards and around 11:20 am, it was quoted at Rs 186.55, up 2.84 per cent from its previous closing of Rs 181.40 on the BSE. However, shares of Devyani International are still down 17 per cent from their 52-week high of Rs 227.75, hit on September 11, 2024 on the BSE.
At the time of writing, nearly 105.78 lakh shares worth around Rs 197.60 crore were reported to be traded on the NSE, while 6.60 lakh shares worth around Rs 6.60 crore were traded on the BSE.
The northward move in the stock market came on the back of news of block trades involving 42,46,671 shares of the company, worth nearly Rs 79.34 crore, reports said.
Meanwhile, the company has also filed a clarification and sought waiver of the penalty of Rs 2,000 (plus GST) imposed by the stock exchanges BSE and NSE, in connection with shareholders’ approval for re-appointment of a non-executive director who has attained the age of seventy-five years.
“We would also like to inform you that the company is in the process of filing applications with BSE and NSE seeking waiver of penalty as the company complies with the provisions of Regulation 17(1A) of the SEBI Listing Rules,” Devyani International said in a stock exchange filing on the BSE.
Devyani International, one of the fastest growing Quick Service Restaurant (QSR) chains in the country, is the largest franchisee for Yum Brands (KFC & Pizza Hut) in India. The company is also the sole franchisee for Costa Coffee brand and stores in India. As of June 30, 2024, DIL operates over 1,830 stores across brands in over 250 cities in India, Thailand, Nigeria and Nepal.
Devyani International had a market capitalization of Rs 22,592.95 crore on BSE as on August 23, 2024. The company is included in the BSE 500 index.
Shares of Devyani International have a 52-week trading range of Rs 227.75 – 142.05 on the BSE.
According to BSE analytics, shares of Devyani International have risen 13.68 percent in the past one month, 22.33 percent in the past three months and 16.13 percent in the past six months. However, they have fallen 4.30 percent in the past one year.
First publication: Aug 23, 2024 | 11:38 AM IST