Burger King's India operator rises after HDFC Mutual Fund buys stake

Restaurant Brands Asia

05/07/2024 08:17

** Shares of Burger King's India operator, Restaurant Brands
Asia Ltd  RESR.NS , rise as much as 4.6% to 113.5 rupees 
    ** Around 4.6 mln shares (around 0.92% stake) bought by HDFC
Mutual Fund in a bulk deal on July 4 - exchange data
    ** Shares bought at 110.46 rupees per share, 1.8% more than
last close price 
    ** Stock on track to gain for 3rd straight day
    ** More than 13 mln shares traded as of 12:43 p.m. IST, 4.6x
their 30-day avg
    ** Mean rating of 11 brokerages rating the stock is "buy";
their median PT is 125 rupees - LSEG data
    ** RESR gained 13.9% so far this week, adding to YTD gains
of ~1.2%  

 (Reporting by Meenakshi Maidas in Bengaluru)
 ((meenakshi.maidas@thomsonreuters.com;))