Burger King India Ltd is a recent listing under Restaurants Industry, S&P BSE IPO – Group B which has been a very volatile share since it has listed.
Is Burger King India Limited is ready for another roller coaster ride a week before announcing Q3 FY 2021
On 28th January 2021, Burger King India Ltd has informed BSE regarding holding the board meeting on 9th February 2021, for considering and approval of the unaudited financial results of the company for the 3rd Quarter FY 2021 i.e. for the quarter ended 31st December 2020 along with the limited review report of the statutory auditors.
On 29th January 2021, by way of special resolution Burger King India ltd has got the approval from members on the below mentioned matters:
1. Ratification of BK Employee Stock Option Scheme 2015; and
2. Ratification to extend benefits of BK Employee Stock Option Scheme 2015 to the employees/ directors of the holding company and subsidiary company(s).
A week before announcing the Burger King India Ltd Q3 FY 2021, we have seen the share is crossing its price consolidation phase and buyers are showing interest in the said stock.
Many bulk buying deals were executed on the exchange from 2nd February 2021.
On 4th February 2021, Burger King India Ltd opened at Rs.143.40/- against its previous close of Rs.141.95/-. During the session, it touches Rs.150.35 on the higher side and touched Rs.141.70/- on the lower side.
Burger King Price Band has increased to 20% against 10% from 5th February 2021. Burger King’s share ended at 147.90/- with an upside of 4.19% on 4th February 2021 and with a 61.47% of Deliverable Quantity to traded quantity.
Peers has also performed well on 4th February 2021: Jubilant Foodworks Ltd closes at Rs.2828.90/- against its previous close of Rs.2644.30/- jumps 6.98% (Increase of Rs.184.60).
We have seen some bulk buying on 4th on BSE, as shown in the image.
If we see the Volume trades for Burger King India Limited for today’s i.e on 4th February 2021 the total traded volume on NSE and BSE is 63.97Lakh against the total traded volume on NSE and BSE of 51.33L (Yesterday), 39.49Lakh a week ago, and 55.29Lakh a month ago.
Today’s volume has exceeded the last 4 week’s volume. Be cautious if you are a fresh buyer as we have seen an increase in the volume of trade just before the week of declaring the quarter 3 FY 2021 result.
The week ended with some takeaways. On 5th February 2021, after revision of Price band i.e. increased to 20%, Burger King share start off very well, it opened at Rs.153/- against its previous close of Rs.147.90/-.
During the session it touches Rs.153.90/- and at the lower side the share hits at Rs.144.75/- which is lower then the previous close.
Burger king ended up with 45.78% of Deliverable quantity to traded quantity.