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MStanley downgrades India's Jubilant Foodworks

Source : REUTERS
Last Updated: Mon, Nov 05, 2012 08:51 hrs
Jubilant Foodworks

Jubilant Foodworks falls 2.1 percent after Morgan Stanley downgrades the stock to "equal-weight" from "overweight", following recent out-performance in the shares and an absence of near-term catalysts.

The investment bank says the Indian operator of Domino's Pizza will face increased competition in the delivery business from Pizza Hut.

Morgan Stanley also recommends investors book profits given Jubilant had surged 78 percent as of Friday's close compared with a 23 percent increase in the broader NSE index.


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