Indian restaurant operators, food delivery majors soar on demand push in budget

Sapphire Foods India

01/02/2025 09:05

** Indian restaurant operator stocks jump between 3% and 10%
after slew of demand-boosting measures in union budget
    ** Zomato  ZOMT.NS  and Swiggy  SWIG.NS  soar 6.5% and 7%,
respectively
    ** Both were hit hard by cooling demand over last two months
    ** Among restaurant operators, Pizza Hut and KFC India
franchisee Sapphire Foods  SAPI.NS  gains the most; Burger
King's Indian operator Restaurant Brands Asia's  RESR.NS  up 3%,
rising the least
    ** Domino's franchisee Jubilant Foodworks  JUBI.NS  gains
5%, Pizza Hut's other Indian operator Devyani Internatinal adds
~7%; McDonald's franchisee Westlife Foodworld  WEST.NS  advances
8.8%
    ** Finance Minister Nirmala Sitharaman says those earning up
to 1.28 mln rupees ($14,791.53)/year won't have to pay any taxes

($1 = 86.5360 Indian rupees)

 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))