Westlife Development Ltd (WESTLIFE) share price Rs. 571.85 as on 24-09-21. One of the fastest growing players in India’s Quick Service Restaurant (QSR) sector, Westlife Development Limited (WDL) focuses on establishing and operating McDonald’s restaurants across West and South India, through its wholly owned subsidiary Hardcastle Restaurants Pvt. Ltd. (HRPL).
Westlife Development Ltd (formerly known as Dhanprayog Investments Co. Ltd) was incorporated on October 30, 1982. However, in order to avail the opportunities in Real Estate development and other related activity including Hotels and Tourism, the Company changed the Objects Clause in its Memorandum of Association and changed its name to Westlife Development Ltd with effect from June 03, 2008. The Company is a part of the Mumbai-based B.L. Jatia Group and is engaged in developing the country’s QSR industry through its wholly-owned subsidiary HRPL (Hardcastle Restaurants Private Limited), which operates McDonald’s restaurants in Western and Southern India through a master franchisee arrangement with McDonald’s Corporation.Pursuant to the resolution passed by members of the Company at an Extra Ordinary General Meeting held on 16th August 2013, the Directors of your Company on 27.08.2013 allotted 54,04,593 equity shares of RS. 2/- each at an issue price of RS. 333.05 per share including a premium of RS. 331.05/- per share to Arisaig Fund India Limited by way of preferential issue.
Company Website : http://www.westlife.co.in/
World Class Wayside Amenities
In the next 5 years, National Highways Authority of India (NHAI) is planning to develop a grid of world-class wayside amenities along national highways and expressways. This will be done at 600 locations on public private partnership (PPP) mode.
World class retail, food court, restaurants, medical services, public conveniences, banquets, and recreational facilities for highway users will be developed in a total of 3,000 hectares of land alongside both greenfield and existing alignments, as per the plan. It will also host dedicated retail area for local arts and crafts.
As far as the development of highway amenities is concerned, government is studying that on every 40 to 60 kilometers. The study of all trucking corridors as well as the expressways and the national highways on which the grid of wayside amenities will be developed is already done, said a source.
National highways across the country will soon offer wayside amenities such as shopping malls, food courts, dispensaries as well as car servicing centres after every 50 kilometers.
Technical View (WESTLIFE)
- The stock has just made a new 52 week High in this week.
- On weekly chart, the stock has been trading with momentum triple pattern theory.
- On daily chart, the stock bounced back after testing support at 100DEMA twice in August.
- A daily momentum indicator RSI reading is at 64.81 level with a positive crossover which points out for a positive breath in the coutner.
- Based on the above technical points, can expect further upside move in the stock in upcoming days.
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