Buy Jubilant Foodworks, target Rs 1900; awaits clarity on GST: CLSA
The firm is expecting the GST rates on restaurants are likely to be revised in two weeks. One of the options could be to reduce GST to 12 percent with no input credit.
Moneycontrol News
The broking firm CLSA has maintained buy rating on Jubilant Foodworks with a target of Rs 1900 per share.
The firm is expecting the GST rates on restaurants are likely to be revised in two weeks. One of the options could be to reduce GST to 12 percent with no input credit.
It is still awaiting clarity on the taxation front and could have negative impact on the earnings in near term.
The meeting of the board of directors of the company has been scheduled to be held on October 26, to consider and approve the standalone unaudited financial results for the quarter and half year ended September 30, 2017.
At 11:58 hrs Jubilant Foodworks was quoting at Rs 1,521, down Rs 3.95, or 0.26 percent on the BSE.
The stock gave return of 82 percent in the last 9 months.
Posted by Rakesh Patil
