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Burger King India share rises over 6%, climbs for second consecutive session

Burger King India share rises over 6%, climbs for second consecutive session

Share of Burger King India rose 6.43% or Rs 11.45 to Rs 184.80 against previous close of Rs 173.35 on BSE

Burger King India stock has gained 15.71% in the last two days. Earlier, the stock opened with a gain of 3.2% at Rs 177.95 Burger King India stock has gained 15.71% in the last two days. Earlier, the stock opened with a gain of 3.2% at Rs 177.95

Burger King India share gained over 6% higher in early trade today. Share of Burger King India rose 6.43% or Rs 11.45 to Rs 184.80 against previous close of Rs 173.35 on BSE. The stock has gained 15.71% in the last two days. Earlier, the stock opened with a gain of 3.2% at Rs 177.95.

Market cap of the firm zoomed to Rs 6,982 crore on BSE.

A week after listing of shares, the stock still stands 208% higher than its IPO issue price. On Thursday last week, the stock rose 265% higher than its issue price to Rs 219.15 in the fourth session of its listing on bourses.

However, the share saw profit-booking in the same session and fell 10% to Rs 179.35 against previous close of Rs 199.25 on BSE.

In the next two sessions, the share hit lower circuit of 10%, respectively.

The stock has been termed overvalued by analysts. Abhijeet Ramachandran, Independent Analyst/ Co-Founder and Trainer at Tips2Trade said, "Despite a phenomenal listing and subsequent upper circuit filters being seen every day, we maintain that Burger King is overvalued. Investors should keep booking profits at current levels and wait to re-enter at lower levels near 110 only."

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The share saw bulk deals on NSE on December 21. Vaibhav Stock and Derivatives Broking Private Ltd bought 19.29 lakh shares of Burger King at Rs 161.21 per share.

The company sold the same at Rs 161.28 apiece, according to the NSE bulk deals data.

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