After continuing their roller coaster ride since listing, Burger King India shares on Friday fell 10 per cent to hit a lower circuit for the second day in a row. Shares of the company dropped to Rs 161.45 on the Bombay Stock Exchange (BSE), after rising in the morning trade to hit the upper circuit. On the day of listing, it jumped 125% over its initial public offering (IPO) price of ₹60 apiece. Then in the next two days, they were locked in 20% upper circuit before seeing profit-taking.
Analysts have attributed the sudden fall in Burger King Shares to profit booking after a sharp up move since listing.
The company’s market capitalisation has fallen to Rs 6,161.81 crore Friday morning from Rs 6,844.98 crore on Thursday. Since its stock market debut, Burger King India shares were on a gaining spree and touched an all-time high of Rs 219.15 apiece. With today’s fall, the stock is off over 26 per cent from its all-time high levels.
Burger King India shares witnessed the fourth-best listing on stock markets so far in 2020. The top three listings were by Chemcon Speciality Chemicals, Happiest Minds Technologies Route Mobile with up to 114 per cent listing premium.