Macquarie has initiated an outperform rating on Devyani International, setting a target price of ₹230 per share. The brokerage notes a recovery in the quick-service restaurant (QSR) sector, with growth momentum accelerating in December 2024.
Key highlights:
- Brands like KFC and McDonald’s top proprietary restaurant indices, supporting Devyani International as a top pick.
- Proposed tax reductions in the February budget could further accelerate same-store sales growth (SSSG) across the sector.
This QSR stock is well-positioned to benefit from industry-wide recovery and favorable macroeconomic trends.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Investments in stocks are subject to market risks.
