India's Westlife Foodworld rises on positive analysts' outlook

Westlife Foodworld

26/06/2023 08:07

** Shares of Westlife Foodworld Ltd  WEST.NS  up as much as
3.92% to 877.95 rupees
    ** Westlife, which operates McDonald's restaurants in West
and South India to deliver steady same store sales growth (SSSG)
of 8-9% in the next few years and expand operating margins
driven by price increase, said analysts at Centrum Institutional
Research 
    ** WEST's strategy of driving premiumisation continue to
support topline- they added 
    ** Centrum retains an "ADD" on co with PT of 900 rupees
    ** Multi-category, multi-channel and multi-daypart
strategies hold lot of potential to drive volumes, Centrum added
    ** Co hits sharpest intraday pct gain since June 19
    ** Brokerages bullish on co, with 15 out of 20 firms on the
co rating stock a "buy" or above, four rate it a "hold", and one
rates it a "sell", their median PT is 849 rupees
    ** About 73,340 shares change hands as of 12:20 p.m. IST, vs
0.4x 30-day average of 191,690 shares 
    ** Stock up ~7% YTD as of last close 

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com;))