Devyani International share price: Stock market 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 market 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 as the stock may hit ₹200 levels in this period. They said that good parentage, growth story and unlock theme would further fuel Devyani International share price in long term.
Advising Devyani International share holders to further hold the counter for next 6-8 months; Ravi Singhal, Vice Chairman 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 6 to 8 months target of ₹200 maintaining stop loss at ₹97."
Speaking on the fundamentals supporting Devyani International share price; Avinash Gorakshkar, Head of Research at Profitmart Securities said, "Stock looks attractive from a long term point of view as prospects for the QSR sector looks quite positive. Also, Devyani International management has said that if third wave of Covid-19 is not very strong then company will become profitable by FY23."
For those who missed to get Devyani International shares during allotment Ravi Singhal of GCL Securities said, "One can buy 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 as 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.