
Devyani International’s stock jumped 10% after Macquarie initiated an “Outperform” rating with a target price of ₹230 per share. The global brokerage firm cited a robust recovery in the quick-service restaurant (QSR) sector, with strong growth momentum observed in December 2024.
Macquarie’s analysis highlighted positive industry trends, with brands like KFC and McDonald’s leading growth. Devyani International, operating the Yum India franchise, stands out as a top pick due to its market position and potential for sustained growth.
Macquarie also noted that proposed tax reductions in the upcoming February budget could further drive same-store sales growth (SSSG), strengthening the outlook for Devyani and other QSR players like Sapphire Foods.
Devyani International shares opened at ₹182.76, reaching a high of ₹196.63 and a low of ₹179.61. Over the past year, the stock has seen a 52-week high of ₹222.74 and a 52-week low of ₹142.25. As of 11:44 AM, the shares were trading 4.43% higher at Rs 185.88.
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