Heavy Buying Stock: This company forays into Thailand market through a strategic partnership to acquire 274 KFC restaurants in Thailand!
The shares of the company saw a spurt in volume by more than 5.11 times on BSE.
Devyani International Ltd, a major Quick Service Restaurant (QSR) operator in India, has announced a significant expansion into Thailand through the acquisition of 274 KFC restaurants. This strategic partnership with Temasek Holdings, a global investment firm, positions Devyani as a key player in Thailand's booming QSR market.
The acquisition includes Restaurants Development Co., Ltd. (RD), which operates all 274 KFC outlets in Thailand and employs over 4,500 people. This move not only provides Devyani with immediate access to a well-established brand and large market share but also strengthens its presence in Southeast Asia.
Thailand's strong poultry market and growing fast-food culture offer exciting potential for further expansion. Devyani is committed to exceeding consumer expectations while contributing to local communities within its new territory.
This landmark deal positions Devyani as a major player in the region's dynamic QSR landscape. Thailand's high population, strong economy, and attractive consumption levels present ample opportunities for future growth. Devyani International is poised to capitalize on this promising market and solidify its position as a leading QSR operator in Asia.
Today, shares of Devyani International Ltd surged 5.16 per cent to Rs 192.75 per share with an intraday high of Rs 197.45 and an intraday low of Rs 189.70. The stock is down by 15.4 per cent from its 52-week high is Rs 227.75 per share and up 43.8 per cent from its 52-week low of Rs 134.05 per share. The shares of the company saw a spurt in volume by more than 5.11 times on BSE.
The company has a market cap of over Rs 23,000 crore and has an ROE of 34 per cent & an ROCE of 20 per cent. Investors should keep an eye on this Mid-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
DSIJ's DSIJ's ‘Mid Bridge’ service recommends well researched mid-cap stocks for smart investing. If this interests you, do download the service details here.