Goldman Sachs says Jubilant market cap to rise seven-fold
Shares of Jubilant Foodworks, which operates the Domino's Pizza franchise in India, gained as much as 2.6 percent after Goldman Sachs said the company has potential to be worth USD 7.4 billion in valuation in a decade.
Jubilant's market value reached USD 1.05 billion as of Monday's close, according to Thomson Reuters data.
Goldman cites three key reasons for its call: rising urbanisation, the rising number of women in the workforce and an increasing youth population.
Goldman adds Jubilant will maintain its competitive edge thanks to its network of Domino's stores, a "robust" supply chain, its more than 20,000 employees, and the "pioneering" use of online ordering and IT systems.