McDonald's India operator down after looming state inspections report

Sapphire Foods India

27/02/2024 09:05

** Shares of Westlife Foodworld  WEST.NS , the McDonald's
 MCD.N  India operator, were down 4.6% at 764 rupees
    ** India's Maharashtra state to inspect restaurant operators
to check if they use cheese alternatives in products while
promoting them as real cheese after McDonald's crackdown,
Reuters reports
    ** Shares of Domino's  DPZ.N  operator Jubilant Foodworks
 JUBI.NS  down ~1% and KFC operator Devyani International
 DEVY.NS  down ~4%
    ** DEVY was already down on the day on a block deal
    ** Sapphire Foods  SAPI.NS  and Restaurant Brands Asia,
 RESR.NS  operators of Pizza Hut and Burger King's,
respectively, rose
    ** WEST set for worst day since Oct. 27, the day after it
reported a surprise Q2 profit drop
    ** All restaurant operators rated "buy" on avg, except for
JUBI, which is rated "hold" - LSEG data

 (Reporting by Varun Vyas in Bengaluru)
 ((varunvyas.hebbalalu@thomsonreuters.com))