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Burger King India share hits 10% lower circuit for second session

Share of Burger King India hit lower circuit of 10% to Rs 161.45 against previous close of Rs 179.35 of Rs 179.35 on BSE

twitter-logoBusinessToday.In | December 18, 2020 | Updated 11:05 IST
Burger King India share hits 10% lower circuit for second session
Market cap of the firm fell to Rs 6161 crore on BSE. In the last two sessions, the share has lost 26.32% on profit-booking.

Burger King India share fell 10% for the second consecutive session today after a record rally of 265% in four sessions. Share of Burger King India hit lower circuit of 10% to Rs 161.45 against previous close of Rs 179.35 of Rs 179.35 on BSE.

On NSE too, the share was down 10% to Rs 157.50 against previous close of Rs 175. Market cap of the firm fell to Rs 6,161 crore on BSE. In the last two sessions, the  share has lost 26.32% on profit-booking.

On Thursday, the stock rose 20% to hit a record high of Rs 219.15 on BSE.  However in afternoon session, the stock crashed 10% to Rs 179.35 against previous close of Rs 199.25 on BSE.

Market cap of the firm fell to Rs 6,844 crore against record of Rs 8,363 crore hit in early trade on Thursday. On NSE too, the stock slumped 10% to Rs 175 after hitting record high of Rs 213.80 during the same session.

Burger King India share rises 265% in four days: What's fuelling the record run

Before Thursday's crash, the stock pulled off a phenomenal 265% rally in four sessions from its IPO issue price of Rs 60. The share, which listed on bourses on December 14, had gained 265% on BSE against issue price before the crash on Thursday.

On NSE, the share had gained 256.33% against issue price. On the listing day, the share gained 92.25% over issue price of Rs 60 on BSE. Share of Burger King India opened at Rs 115.35 against issue price of Rs 60.

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