NEW DELHI: Shares of Jubilant FoodWorks slipped over 1 per cent on Wednesday morning after the promoters of the company withdrew their decisions to pay royalty to the Bhartia family effective FY20.Promoters of food service major Jubilant FoodWorks and pharma major Jubilant Life Sciences had initially said that they would pay a royalty of 0.5 per cent of net sales to the Bhartia family, who hold 45 per cent in the firm, for use of the Jubilant name.
The scrip hovered at Rs 1286.70, down 1.27 per cent at around 10:40 am while the benchmark BSE Sensex was up 0.49 per cent at 36,796.87.
Meanwhile, the shares of Jubilant FoodWorks opened at Rs 1341.95 on BSE against its previous closing of Rs 1303.25.Also, shares of Jubilant Industries (up 4.99 per cent) and Jubilant Life Sciences (down 1.97 per cent) were trading at Rs 107.25 and Rs 723.80 on BSE.