Shares of Barbeque Nation surged over 5% to reach Thursday’s intraday high of ₹736.15.
What Happened: Shares of the company bounced back on Thursday after dropping 1.27% on Wednesday as UTI mutual fund increased its stake in the hospitality giant. The fund bought an additional 0.14% stake or 54,829 equity shares via open market transactions on Tuesday increasing its holding to 9.1753%.
The news came on the heels of brokerage firm Nuvama giving a ‘buy’ rating to the stock with a target price of ₹1,275. Edelweiss also has a similar stance on the stock with the target price at ₹1,275 as it noted that the stock is currently trading at an ‘attractive valuation.’
The company also informed on Thursday that it has increased its shareholding in its subsidiary Red Apple Kitchen Consultancy to 78.22%. The company completed the acquisition of 200 equity shares, constituting 3.06% paid-up share capital of Red Apple for ₹5.8 crore.
Now for the part, you are looking for…
How Much That Dinner Reservation Would Have Been Worth If You Invested In The Stock
Get Ring The Bell, Benzinga India’s weekly briefing. Designed specifically for investors like you.
So a usual non-veg dinner for two people at Barbeque Nation costs around ₹3,000 with drinks. Now, if you would have skipped your weekend date night and invested the amount in the stock on Wednesday when the stock closed at ₹692.15 you would have gotten 4 shares of the stock.
Today with the surge, your ₹2,700 investment would have been worth around ₹2,900 today. If you invest the same amount of money now and the stock reaches the target price set by the brokerages, your investment would be worth around ₹4,800. That would be an around 75% return on investment.
Price Action: Shares of Barbeque Nation traded 4.35% higher at ₹723.30 in the late hours of trading on Monday.
Disclaimer: Benzinga India doesn’t give financial advice. The above article is for educational-purposes alone.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.