Jubilant Foodworks shares gain; BofA starts with 'buy'

Tags: Companies
Shares in Jubilant Foodworks Ltd gain 4.9 percent after Bank of America Merrill Lynch starts coverage with a "buy" rating and a target of 1,375 rupees.

Says the company in a sweet spot in the large and high-growth quick service restaurants market.

Jubilant has the franchisee of Domino's Pizza and Dunkin' Donuts in India.

Company's earnings can more than double by FY17, the investment bank said in a report.

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