"The decision to change the name has been taken to align ourselves with the branding of the Jubilant Bhartia Group, promoted by Shyam S Bhartia and Hari S Bhartia."
The markets have given a thumbs down to Jubilant FoodWorks results for the April-June quarter (Q1) of 2023-24 (FY24). The company, which owns and operates Domino's Pizza and Popeyes chain of stores, reported a (standalone) net profit of Rs 75.2 crore in Q1 of FY24 - a drop of 25.5 per cent year-on-year (YoY) from Rs 101 crore, but a quarter-on-quarter (QoQ) rise from Rs 47.5 crore. What's worrying the Street is the likelihood of a dismal Q2FY24 performance, which it feels will be marred by soaring milk, cheese and vegetable prices.
Even as New Delhi turns up the heat on Turkish firms over Ankara's public embrace of Islamabad, Indian companies rooted in Trkiye are staying put. Mahindra & Mahindra (M&M), Dabur India, and Jubilant FoodWorks say it's business as usual, with no plans to alter course despite the geopolitical chill.
Gautam Adani-owned Adani Ports and Special Economic Zone (APSEZ) will replace IT major Wipro in the 30-share BSE Sensex from June 24, according to an official announcement on Friday. This marks the first inclusion of any Adani Group firm in Sensex. The group has 10 listed firms with a combined market valuation surpassing Rs 17 lakh crore.
Concerns over weakening demand for Indian pharmaceutical (pharma) drugs in the US - their largest export market - have weighed heavily on investor sentiment this year. While the Nifty 50 has gained 6.02 per cent year - to - date (as on September 15), the Nifty Pharma index has declined 5.18 per cent, National Stock Exchange data shows.
The risk-reward for the Indian markets, Morgan Stanley said, is turning favourable.
Notwithstanding the inflation pinch, analysts believe the Indian retail sector is on the 'cusp of accelerated earnings growth' as consumer sentiment and discretionary purchases bounce back from the Covid-19 pandemic. "The shift in consumer preference from the unorganised sector to the organised, coupled with uptick in domestic demand as people resume work from office, will cheer the Indian retail sector," says Nishit Master, portfolio manager, Axis Securities. Shopping malls are witnessing increased footfall in lower tier towns and standalone stores as consumption picks up and mobility improves.
A combo pack of ITC-owned Aashirvaad atta and spices including chili, coriander and turmeric powders will be available on Domino's app. The service will be available in Bengaluru first and will then be expanded to Noida, Mumbai, Kolkata, Chennai and Hyderabad.
'I'm not dismissing the anger that drives people to stomp on the enemy's flag. 'In times of collective grief and rage, that kind of expression is understandable, especially in the age of viral content. 'But must I do it too?' asks Nikhil Narayanan.
'Retail investors, who had not seen such a massive correction in the SMID universe since COVID-19, are witnessing something like this for the first time. Panic profit booking may continue.'
As promised, Domino's 20-minute delivery started across 170 stores in Bengaluru on Tuesday. But, as the day progressed, some teething issues came to the fore. If delivery partners' accounts are anything to go by, these are unlikely to go away anytime soon.
It may be a little early to cheer the recovery in the fast-moving consumer goods (FMCG) space as a deceleration in discretionary demand, after the festival season, may offset fragile rural recovery, analysts have cautioned. "The overall demand environment for staples remains muted, while discretionary demand trends have seen some deceleration after the festival season. "We believe margins in staples have bottomed out, but we expect only a gradual uptick with the ongoing softening in raw material prices.
Analysts say large firms in these segments don't need loan recast due to the efficient manner in which many of them operate.
'Let's not get carried away by stocks like D-Mart, Jubilant Foods and all those companies that are trading at an expensive valuations.'
Fresh meat and seafood delivery unicorn Licious is intensifying its talent acquisition endeavours as it pursues profitability and readies for an initial public offering (IPO) within the next 24 months. Delightful Gourmet, Licious' parent company, has named 39-year-old Karishma Gupta as its new chief financial officer (CFO). Her appointment aligns with Licious' drive for profitable growth through an omnichannel strategy.
An Olympic medallist's wish is anybody's command. Domino's Pizza has pledged free pizza for life to India's silver medallist Saikhom Mirabai Chanu, after the champion said she wished to eat pizza after her feat at the Tokyo Olympics.
"It went up to 20-odd per cent in 2019 and to 25 per cent a year later. "That's when we decided to pull the plug; it was not sustainable for our business," says Chadha. Madison & Pike, instead, turned to Mumbai-based start-up Thrive, which provides third-party delivery services to restaurants at a much lower commission - three to five per cent.
One in five stocks from the BSE-500 index has underperformed the market and recorded losses.
The Indian website of popular pizza retailer Domino's (www.dominos.co.in) was hacked by a Turkish Hacker group that calls itself Turkish Ajan Hacker Group. Details of about 37,000 accounts, including names, phone numbers, email addresses, passwords and city details, were leaked, and the passwords have been released in plain text.
Except for Westlife Foodworld (Westlife), a weak 2022-23 (FY23) January-March (fourth quarter, or Q4) quarter performance and a muted near-term outlook led to a downward revision of earnings estimates for quick-service restaurant (QSR) players. Brokerages have slashed estimates by as much as 10 per cent for 2023-24 (FY24) and 2024-25 (FY25). The downward revisions have weighed on the performance of listed players, who have underperformed the market with low single-digit returns over the past month.
Near-term prospects hinge on the progress of the second wave of Covid-19. A lockdown will dent prospects as 60 per cent of revenues come from the dine-in segment.
After pizzas, people travelling in trains can now order KFC's meals on board.
Barbeque Nation IPO: The promoters hold 60.24 per cent stake, CX Partners owns 33.79 per cent and Rakesh Jhunjhunwala's investment firm Alchemy Capital holds 2.05 per cent in the company.
Top 5 losers include Lupin, Cipla, Sun Pharma, Dr Reddy's Lab and GAIL down 1.6%-11%.
A sojourn in Seoul, one of Asia's largest metropolises, where the ultra-modern coexists with the ancient -- temples and palaces with futuristic skyscrapers climbing to the stratosphere, K-pop with Buddhism, a village within city limits.
Amazon India has decided to shut down 'Amazon Distribution', according to sources. This follows its recent decision to shut its food delivery and edtech offerings. The moves are part of the annual operating planning review process amid global macroeconomic uncertainty. The e-commerce giant is looking to focus on its core businesses, sources said.
Domino's India data that included sensitive customer information such as their names, phone numbers, and credit card details has allegedly been breached and put on sale on the dark web. According to tweets by Israel-based Co-Founder and Chief Technology Officer of cybercrime intelligence firm Hudson Rock, Alon Gal, the data is worth 13 terabytes (TB). He tweeted on Sunday that the data includes as many as 180 million order details, including 1 million credit card details. The data, said Gal, was up for sale on the dark web. The threat actor, he said, was asking for $550,000 for the data.
Zomato's mega initial public offering (IPO) ended with a bumper 38 times oversubscription on Friday as institutional investors poured money to get a pie of the hottest online food delivery platform. Zomato got bids for 2,751.25 crore shares against 71.92 crore shares on offer, stock exchange data showed. The IPO is India's biggest since March 2020. Institutional investors, who shied away in the first two days of the IPO, bid several times over the number of shares reserved for them.
Food ordering platform Zomato, whose Rs 9,375 crore IPO opens on July 14, is planning to launch a grocery section on its app soon, a senior company official said. The company recently invested USD 100 million (around Rs 745 crore) for acquiring a minority stake in grocery delivery platform Grofers. "It (grocery) is a large opportunity. The online grocery is nascent right now but is growing rapidly not just in India but across the world... "We are actively experimenting in that space and recently invested $100 million for a minority stake in Grofers, with the idea of getting more exposure to that space and building our strategies and plan around that business," Zomato CFO Akshant Goyal said.
Signalling both change and continuity, India's new government, headed by Prime Minister Narendra Modi for a third consecutive term, got into work gear on Tuesday with cabinet ministers and ministers of state filing into their respective offices to assume charge.
The issue will comprise a secondary share sale worth Rs 600 crore by private equity major Everstone Capital and fresh fundraising worth Rs 400 crore.
After 11 years at the helm of Jubilant, Ajay Kaul, the 'nuts and bolts' executive, called it a day amid speculation that his expansionist strategy was not clicking, says Viveat Susan Pinto.
Delivery will be made at 12 selected stations.
Food delivery platform Zomato's initial public offering was oversubscribed on the opening day on Wednesday with retail investors bidding for 2.7 times the number of shares reserved for them. The offer received bids for 75.60 crore equity shares against an IPO size of 71.92 crore, stock exchange data showed. Retail investors sought 2.69 times the portion reserved for them. Against 12.95 crore shares reserved for retail individual investors, 34.88 crore shares were bid by 1700 hours.
Leading drug firms Aurobindo Pharma, Sun Pharma and Jubilant are recalling different products in the US market for various reasons, as per the latest enforcement report by the US Food and Drug Administration (USFDA). While Aurobindo Pharma is recalling Cyanocobalamin Injection, which is used to treat and prevent lack of vitamin B12, Mumbai-based Sun Pharma is recalling a drug used to increase the production of natural tears in eyes. Similarly, Jubilant Cadista is recalling a drug which is used to treat different inflammatory conditions.
As rescuers in India on Tuesday successfully pulled out all 41 construction workers trapped in a collapsed mountain tunnel in Uttarakhand after 16 days, the global media hailed the rescue operation and provided live coverage of the dramatic development.
She has a huge fashion appetite for saris and ethnic garb.
With two top exits and uncertainty on growth strategy, Jubilant is likely to remain under pressure
Yum reduced the number of restaurants in India by 14 in the September quarter from the preceding quarter to 811.
The plan is to start with 20-25 per cent capacity by early next month as part of Unlock 5.0, before moving to 50 and then 100 per cent.
