Macquarie Raises India QSR Targets as Demand Recovery Builds

Macquarie is a brokerage that studies companies and their shares.

It thinks India’s fast-food restaurant companies may perform better as customers return.

The brokerage expects sales at existing restaurants to improve in the second quarter.

It believes dine-in and takeaway sales could grow more quickly than before.

Devyani International is its favorite stock among the companies it follows.

Westlife Foodworld and Sapphire Foods India are also expected to have meaningful gains.

Macquarie upgraded Jubilant FoodWorks because its Popeyes business is performing better.

These are estimates, not guarantees, so investors are advised to do their own research and seek professional advice.