Jubilant FoodWorks' stock has rallied 8% in the past two trading
days
Shares of Jubilant
FoodWorks surged 4.4 per cent and hit a fresh record high of Rs 2,793 on
the BSE on Thursday, after clocking an 8-per cent in the past two trading days,
after the company entered into the biryani segment with a new brand 'Ekdum!' as
part of its portfolio expansion.
The largest foodservice company in India on Wednesday announced that it has
entered into the 'most-loved food space' of Biryanis with its newest brand -
Ekdum!
"Ekdum! will
offer the widest variety of biryanis from across India to choose from. The
chefs at Ekdum! have brought together a selection of twenty different biryanis
curated from various parts of India using authentic ingredients that bring out
the unique flavours and signature tastes associated with the region,"
Jubilant FoodWorks said in a press release.
Ekdum! will be
affordably priced, with biryani prices starting from Rs 99, offering unbeatable
value for money to customers. Ekdum!
starts with three restaurants in Gurgaon for Delivery, Takeaway and Dine-In,
with more restaurants planned to open in NCR over the next few months, it said.
While an accurate
estimate of overall (dine-in + delivery) market size is not available, analysts
at Kotak Institutional Equity peg the Biryani delivery market at Rs 3,000
crore.
Prima-facie Kotak
Institutional Equities find Ekdum!'s pricing attractive. It also believes
Biryani economics would likely be comparable to Domino's once critical scale is
achieved; and that the key difference between Domino's and Ekdum! would be
kitchen dynamics.
No comments:
Post a Comment