Devyani International share price: stock exchange experts are of the opinion that QSR operator company share still looks positive and one can hold the counter for next 6-8 months
Devyani International shares made strong debut at the Indian bourses after listing at around 56 per cent premium. stock exchange experts are of the opinion that the stock of largest franchisee of Pizza Hut, KFC, and Costa Coffee in India still looks positive and one can hold the counter for next 6-8 months because the stock may hit ₹200 levels during this period. They said that good parentage, growth story and unlock theme would further fuel Devyani International share price in future .
Advising Devyani International share holders to further hold the counter for next 6-8 months; Ravi Singhal, president at GCL Securities said, “The largest franchisee of Pizza Hut, KFC, and Costa Coffee in India is showing good parentage, growth story and unlock theme. One should hold the counter for six to eight months target of ₹200 maintaining stop loss at ₹97.”
Speaking on the basics supporting Devyani International share price; Avinash Gorakshkar, Head of Research at Profitmart Securities said, “Stock looks attractive from an extended term point of deem prospects for the QSR sector looks quite positive. Also, Devyani International management has said that if third wave of Covid-19 isn’t very strong then company will become profitable by FY23.”
For those that missed to urge Devyani International shares during allotment Ravi Singhal of GCL Securities said, “One can purchase Devyani International shares at around ₹125 to ₹130 range keeping stop loss at ₹97.”
The QSR chain operator company had a dream debut at the Indian bourses because it got listed today at NSE at ₹140.90 per share levels, which was around 56 per cent higher from its issue price of ₹86 to ₹90.
The initial public issue of Devyani International closed on 6th August 2021 and was subscribed 116.71 times. ₹1,838-crore worth IPO received bids for 13,13,77,91,700 shares against 11,25,69,719 stocks on offer.