Singapore-based Indian restaurant Al-Amaan [ALM] saw their stock value soar yesterday, climbing 15.6% at closing to reach an all-time high of $0.73. Reports indicate that the surge was largely attributed to a huge order of Tandori Butter Chicken by Yale-NUS students for a Diwali event. The restaurant, who reported that single call wiped out more than 90% of existing chicken stocks in their kitchen, is calling it an “unprecedented order” of this magnitude.
The popular eatery, whose main demographic is hungry college students and hungover partygoers, reported a healthy 22% quarterly revenue growth this semester. They say that the single order could have massive spillover effects, tripling share growth in the next two months as more people are introduced to the irresistible crowd favourite.
“I was on the phone when someone ordered one thousand butter chickens,” said Al-amaan’s staff, Abhinav Goyal. “Initially I thought they wanted “one thosai and butter chicken” but they actually wanted one thousand butter chickens. I lost it right there and then.”
Yale-NUS students were equally surprised at the stock’s performance. “We just wanted butter chicken,” said Yale-NUS Student, Kiran Veerendiran (‘19), who organised a Diawli party on campus. “We had no idea that our insatiable hunger for butter chicken would have such long lasting impacts on the local Indian food industry.”
The impressive climb overnight has attracted many investors looking at short-term growth, but Company CEO Ravi Mallaya says that his 2 billion dollar franchise is expected to grow even more over the next four years, as students become increasingly desperate for late night meals. “Frankly, Foodpanda is no longer the go-to when it comes to online deliveries,” he said. “The slow delivery and unreliable service is something a student with crippling midnight hunger cannot tolerate.” Al-amaan’s is planning to rival this with the introduction of a new delivery fleet in 2018, which hopes to be on par with ambulance response times, treating all student orders after midnight as emergencies.