Small-cap stock under ₹50: Spice Lounge Food Works share price hit upper circuit for a second consecutive session, climbing as much as 3% to ₹26.13 apiece on the BSE during Thursday's trade.
The FMCG stock opened at ₹26.50 apiece today, as compared to previous close of ₹23.35 on Wednesday.
Spice Lounge Food Works business update
Spice Lounge Food Works, in an exchange filing after market hours on July 14, announced that it has secured the exclusive master franchise rights for Wing Zone, the globally recognised American quick service restaurant (QSR) chain known for its flavourful chicken offerings, signature sauces, and premium-quality menu.
As part of the agreement, Spice Lounge Food Works will spearhead Wing Zone's expansion in India, overseeing restaurant operations, brand management, and the rollout of outlets across multiple cities nationwide.
The first Wing Zone outlet in India has been launched in Koramangala, Bengaluru. The company plans to expand further within Bengaluru in the next phase, followed by the launch of outlets in Hyderabad, Chennai, and other major metropolitan cities during the third phase of expansion.
"This partnership marks an important milestone in our long-term growth strategy and reinforces our commitment to building a diversified, multi-brand food services platform in India," said Mohan Babu Karjela, Chairperson and Director, of the company.
Spice Lounge Food Works share price trend
Spice Lounge Food Works share price trend has remained volatile in the near-term. The FMCG stock has gained 6% in a week and 7.35% in a month.
Furthermore, Spice Lounge Food Works shares have slipped 28% on year-to-date (YTD) basis and 26% in a year.
Looking at the broader level, the stock has delivered over 400% returns in three years and multibagger returns of 1,233% in five years.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
