The company further said that it will mitigate the impact and promote the takeaway and delivery channels but in spite of this there will be an adverse impact on the revenue of the company.
Share price of Domino’s Pizza’s operator Jubilant Foodworks fell over 8 percent intraday on March 24 after the company announced that it has suspended dine-in facility across all Domino’s Pizza restaurants in view of the emergent situation due to coronavirus (COVID-19).
Jubilant Food feels that this crucial step will help to support several initiatives taken by the Central and the State Governments to control the potential transmission of COVID-19 and to maintain social distancing.
The company further said that it will mitigate the impact and promote the takeaway and delivery channels but in spite of this, there will be an adverse impact on the revenue of the company.
The stock already shed over 36 percent in the last one month and was quoting at Rs 1,188.60, down Rs 99.70, or 7.74 percent. It has touched an intraday high of Rs 1,320.00 and an intraday low of Rs 1,159.50.
It was trading with volumes of 25,557 shares, compared to its five-day average of 72,021 shares, a decrease of -64.51 percent.
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First Published on Mar 24, 2020 10:42 am
Source: Thanks https://www.moneycontrol.com/news/business/markets/covid-19-impact-jubilant-food-suspends-dine-in-facility-across-dominos-pizza-restaurants-shares-fall-8-5065481.html