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Friday, March 18, 2011

Jubilant FoodWorks rise on mulling to diversify its present business


previous closing of Rs. 561.75 on the BSE.
The scrip opened at Rs. 565.70 and has touched a high and low of Rs. 576.90 and Rs. 560.00 respectively. So far 83,571 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 670.70 on 01-Dec-2010 and a 52 week low of Rs. 251.65 on 21-May-2010.
Last one week high and low of the scrip stood at Rs. 580.75 and Rs. 523.90 respectively. The current market cap of the company is Rs. 3628.02 crore.
The promoters holding in the company stood at 61.29% while Institutions and Non-Institutions held 30.68% and 8.03% respectively.
Jubilant FoodWorks which is operating Dominos Pizza chain in India is aiming to diversify its business into new areas, including operating hotels and other non-food segments such as garments and fashion accessories. The company will get to know if the shareholders have approved new plan when the result of the postal ballot is announced on April 21, 2011.
As per the company's plan, it is seeking to enter into businesses such as stationary items, fashion accessories, toys, gift items, DVDs, VCDs and home decor items. Apart from this, it is also looking to operate hotels, restaurants, beach resorts, health resorts, cafes and motels. The company has drawn up plans to tap huge market available by venturing into new business initiatives in the food business. Other items that the company could start dealing in are baby and dietetic products, pickles, spices, wines and liquors. The firm also has intentions to cultivate, prepare or market any organic, agricultural or plantation produce and sell it in India or elsewhere.
The company is also planning to construct, own, hire or maintain cold storages, ice plants, warehouses, freezing houses and room coolers for storing food products being dealt by the company as a part of its business in India.

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