Burger King shares jump 265% in 4 days; now valued more than Westlife Development
Burger King really turned out to be a multibagger in a short period of time. Since its listing, stock of quick services restaurant chain Burger King India has been on buyer's radar hitting the upper circuit for the fourth straight day on December 17. The company has now surpassed the market capitalisation of its pee Westlife Development.
It surged 20 percent from its pre-opening price on Monday, though gained 131 percent over its issue price of Rs 60 per share. In the following days, it gained 20 percent each on Tuesday and Wednesday, and 10 percent on Thursday. In case, the stock consistently hits upper or lower circuit, the exchanges generally revise circuit limits for stocks.
In total, the stock rallied 265.3 percent in four sessions to trade at Rs 219.15 compared to its issue price of Rs 60 per share, thus making it a multi-bagger in a short period of time. It has hit a market capitalisation of Rs 8,363.96 crore, which is higher than its closest peer Westlife Development's Rs 7,229.96 crore.