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Morgan Stanley downgrades Jubilant Foodworks
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A homeless boy holds biscuits that he received as alms as he takes shelter from rain in front of a fast food shop in Mumbai November 11, 2009.
Credit: Reuters/Arko Datta/Files
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.
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