Morgan Stanley downgrades Jubilant Foodworks
Reuters Market Eye - Jubilant Foodworks (JUBI.NS) 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 Nifty.
- Tweet this
- Share this
- Digg this
- Russia can run on empty for a year if sanctions block new bonds
- U.S. strikes have slowed Iraq militants but not weakened them - Pentagon
- Apple says celebrity photo breach targeted, not due to its systems
- Actress Jennifer Lawrence contacts authorities after nude photos hacked
- Nasty, brutish and artsy? Neanderthal hashtag engraving found
The BSE Sensex on Tuesday breached the psychologically key level of 27,000 points for the first time to hit its third consecutive record high as blue-chips such as HDFC Bank gained after recent data raises hopes about the economy. Full Article