Restaurant Brands Asia rises on block deal

Sapphire Foods India

08/01/2024 09:34

** Shares of India-based Restaurant Brands Asia  RESR.NS  up
2.5% at 116.30 rupees, trimming earlier gains of 5%
    ** Over 1.5 mln shares of Burger King India franchisee
traded in one block deal at 112.45 rupees apiece - LSEG data
    ** Over 8.2 mln shares traded, highest since mid-September
and 3.7x the 30-day avg
    ** The mean rating of 10 analysts tracking RESR equivalent
to "buy"; median PT is 126 rupees - LSEG data
    ** Among rivals, Sapphire Foods India  SAPI.NS , Devyani
International  DEVY.NS  and Westlife Foodworld  WEST.NS  are
rated close to equivalent of "buy", while Jubilant FoodWorks
 JUBI.NS  is rated "hold" - LSEG
    ** In Dec-qtr, RESR, SAPI, DEVY, WEST fell 10.3%, 2.2%,
9.6%, 12.6%, respectively, while JUBI rose 6%
    

 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))