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
- In his native Alabama, Apple CEO's announcement he is gay prompts discomfort for some
- Air strikes hit Kobani as Kurdish peshmerga prepare to enter
- Islamic State fighters kill 220 Iraqis from tribe that opposed them
- SEBI piles pressure on Sahara to sell overseas hotels
- China expresses concern about Indian plan to build border posts
Shares Hit Record
The BSE Sensex and Nifty surged to record highs for a second consecutive session on Friday after Bank of Japan's surprise expansion of its massive stimulus programme raised hopes for additional foreign inflows, boosting blue-chips such as Larsen & Toubro. Full Article
China's shadow banking sector growing rapidly, third largest in world - FSB. Full Article