Jubilant Foodworks remains volatile

Jubilant Foodworks is showing some wild oscillatory movement today. In the morning, the stock price rose over 3% to Rs.2662.25 and then it went down to Rs.2515, going down almost 2.5%. It remains in the red currently.

Yesterday, there was unconfirmJubilant Foodworksed news that its parent company, Jubilant ConJubilant Foodworkssumer Pvt Ltd (holding 44.94% stake) may consider selling stake in its pizza selling unit, Jubilant Foodworks, to repay debt maturing over the next five years.

This has raised some concern about its cash flows but then the clarification came from the company, denying the rumours. The company stated, “On behalf of the promoters, Jubilant FoodWorks would like to categorically assert that the report is completely incorrect and baseless.”