Indian KFC, Pizza Hut operator Devyani rises after $934 mln merger with peer Sapphire foods

Devyani International

02/01/2026 03:55

Jan 2 (Reuters) - India's KFC and Pizza Hut operator Devyani International DEVY.NS climbed 7.3% on Friday after striking a long-anticipated $934 million merger deal with peer Sapphire Foods SAPI.NS, creating a fast-food major poised to challenge market leader Jubilant Foodworks.

The stock was trading at 158.14 rupees as of 9:17 a.m. IST and was set for best day since August 2025.

 (Reporting by Urvi Dugar in Bengaluru; Editing by Janane Venkatraman)

 ((UrviManoj.Dugar@thomsonreuters.com; +91 9558725583;))