Burger King Stock price: Burger King was listed in December 2020 and gave tremendous returns to investors on the day of listing. However, Burger King’s shares have fallen 2.5 percent so far in 2021. However, Burger King shares rose more than 13 percent in two trading sessions. In just two days, the shares of Burger King rose from Rs 149 to Rs 170. This uptrend continued for the third day as well. On August 25, at 1.16 pm, the shares of Burger King were trading at Rs 170, up 5.22 per cent.
According to market experts, this rise was bound to happen in the shares of Burger King. Because despite the second wave of coronavirus infection, the company released good results in the first quarter of Fiscal Year 2022. Market experts say that Burger King shares may rise further and it can go above Rs 190.
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What’s driving the rise in Burger King shares? On this, Avinash Gorakshakar, Head of Research, Profitmart Securities from Mint, said, “Burger King delivered strong results in the June quarter despite the second wave of coronavirus infections. Its sales growth was up 289 percent on a year-on-year basis. If the market opens completely then the company will benefit more. Its effect is visible on the stocks from now on.
Gorakshkar says that in terms of long term investment in Burger King shares can be done. Due to the transition, the shares of Burger King fell after the listing, which is a better investment opportunity.
Mudit Goel, Senior Research Analyst, SMC Global Securities said, Burger King shares have recovered. Its strong support level is at Rs 155 while the immediate support level is seen at Rs 161. Burger King shares are trading between Rs 160-190. It may give a strong breakout if it crosses the Rs 190 level and stays above it.
Goyal said that those who have Burger King shares can put a stoploss at Rs 155 while new investors would be better off waiting for it to cross the Rs 190 level. Once above this level, only new investors should buy.
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