Barbecue-Nation relapses on large volumes

Barbeque-Nation Hospitality fell 5.90% to Rs 1,175.10 amid heavy volumes.

On BSE, 6.40 lakh shares have been traded over the counter so far, compared to average daily volumes of 0.07 lakh shares over the past three months.

On the NSE, 83.45 lakh shares have been traded over the counter so far, compared to average daily volumes of 0.80 lakh shares over the past three months.

On the technical side, the stock’s RSI (Relative Strength Index) stood at 37.055. The RSI fluctuates between zero and 100. Traditionally, the RSI is considered overbought when it is above 70 and oversold when it is below 30.

The stock was trading below its 50-day, 100-day and 200-day simple moving average (SMA) placed at 1300.13, 1369.57 and 1234.17, respectively.

Barbeque Nation is a food service company. It currently owns and operates 169 outlets across India and 3 other countries. The company pioneered the concept of “barbecue above the table” in Indian restaurants. The company holds a majority stake in “Red Apple Kitchen”, which operates 10 Italian cuisine restaurants under the popular “Toscano” brand.

The company reported a consolidated net profit of Rs Rs 14.16 crore in the quarter ended December 2021 compared to a net loss of Rs 0.90 crore in the previous quarter ended December 2020. Sales increased by 47, 14% YoY to reach Rs 286.67 crore in Q3 FY22.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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Edward L. Robinett