Sapphire Foods India shares: Stock Radar: Down 30% from highs! This restaurant stock could see a bounce back for a target of Rs 1,425: Shrikant Chouhan
Synopsis
The company, with a market capitalisation of more than Rs 6,600 crore as of 29 June, hit a 52-week high of Rs 1,535 on 14 February 2022, but failed to hold on to the momentum. It closed at Rs 1,039 on 28 June 2022.
Sapphire Foods India Ltd, part of the restaurant space, has fallen over 30 per cent from its February 2022 highs and is firmly placed in a bear grip. But the expectation of improvement in earnings and a potential bounce back from support levels cements the bullish outlook.
The company, with a market capitalisation of more than Rs 6,600 crore as of 29 June, hit a 52-week high of Rs 1,535 on 14 February 2022, but failed to hold on to the
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