Morgan Stanley downgrades Jubilant Foodworks

Morgan Stanley downgrades Jubilant Foodworks

Jubilant Foodworks fell 2.1 per cent after Morgan Stanley downgraded the stock to "equal-weight" from "overweight", following recent out-performance in the shares and an absence of near-term catalysts.

The investment bank said the Indian operator of Domino's Pizza will face increased competition in the delivery business from Pizza Hut.

Morgan Stanley also recommended investors book profits given Jubilant had surged 78 per cent as of Friday's close compared with a 23 per cent increase in the Nifty.



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