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
- U.S. nurse quarantined over Ebola calls treatment "frenzy of disorganization"
- Wall Street finally turning on Amazon as Bezos magic fades
- Former Cream frontman Jack Bruce dies aged 71
- São Paulo running out of water as rain-making Amazon vanishes
- Iraqi security forces and Kurds gain ground against Islamic State
The Nifty will stay in a broad band of 7,800-8,200 with an immediate resistance at around 8,050 levels. One should look to selectively accumulate in sectors such as infrastructure, capital goods, cement, power and metals. The outperforming sectors such as pharma, IT and auto ancillaries could take a breather due to international headwinds, writes Ambareesh Baliga. Full Article
Euro zone risks "relapse into recession" without structural reforms - Draghi. Full Article