Plans to include new Domino’s Pizzas makes Jubilant FoodWorks' shares rise over 3% on BSE Sensex
Jubilant FoodWorks shares jump on announcement of new pizza.
- Jubilant FoodWorks will invest Rs 100 crore in its new launch.
- The company's shares rose over 3% on BSE Sensex post this announcement.
- This has been the highest rise in Jubilant shares since July 28.
Domino’s on Tuesday announced plans to introduce an ‘all new’ pizza with imported Californian tomatoes, which increased investor appetite for its parent company – Jubilant FoodWorks – shares on BSE Sensex.
Shares of the company traded in green, up 2.22% or 28.05 points at Rs 1293 per share on the 30-scrip Sensitive Index at 1242 hours.
The company shares rose as much as 3.2%, which was the highest jump since July 28. Jubilant shares have risen 51.3% in 2017 vs 20.5% rise in Sensex, as per a Bloomberg update.
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“The improvement to its pizzas include a new soft and tasty crust, more and bigger toppings, more cheese and a new herbier tomato sauce made from imported Californian tomatoes,” Jubilant FoodWorks said in a BSE filing today.
The new product launch will be supported by an aggressive advertising campaign, the company said which will be broadcasted across television, the internet, press and radio.
“It will also be accompanied by a focused outreach effort targeted at its existing customers,” the company said.
“We will be investing nearly Rs 100 crore behind the upgrade. We believe that the vastly improved product will help both drive frequency amongst exisiting customers as well as attract new ones, and thereby expand Domino’s franchise and help growth in the market,” Pratik Pota, CEO Jubilant FoodWorks Ltd said.
The company claimed to have 1125 Domino’s Pizza restaurants across 264 cities and 55 Dunkin’ Donuts restaurants across 15 cities in India as of July 2017.