Jubilant Group’s Jubilant FoodWorks shares surged on the last trading day, on Friday, December 27.
Jubliant FoodWorks Sign MoU With Coca-Cola
The company shares jumped after the company signed a Memorandum of Understanding or MoU, with American FMCG giant Coca-Cola. This deal would see Jubilant FoodWorks making sparkling beverages for Coca-Cola.
In a statement issued on the exchange filing, the company said, “Pursuant to Regulation 30 of the Listing Regulations, it is hereby informed that Jubilant FoodWorks Limited (‘Company’) has entered into a Memorandum of Understanding (‘MoU’) with Coca-Cola India Private Limited, containing the principal terms and conditions for the purchase of a portfolio of sparkling beverage products and certain other products from The Coca-Cola Company authorized bottlers, and for conducting marketing activities (which will be undertaken in the usual/ordinary course) for the said products as defined in the MoU.”
Company Shares Slip After Hitting Life-High
When it comes to the performance of the company at the equity markets however has been a story of vacilations. The company shares that continue to trade in green opened on a high of Rs 715.00, this is higher than the previous day’s closing of Rs 703.90.
The shares even hit a high of Rs 724.90 per share. Despite this blistering start, the fortunes quickly changed, as the company shares dropped in value. The trade has wavered significantly in this trading day. Here, it even hit its 52-week-high.
In the recent past, the company shares have increased by 3.74 per cent in the past five trading sessions. In the past month, the company shares have increased in value by Rs 8.49, marking major gains at Dalal Street.
As per the most recent numbers available, at 12:52 IST, the company shares rose by 0.37 per cent or Rs 2.60, taking the overall value of the shares of Jubilant FoodWorks to Rs 706.50.
