Jubilant FoodWorks shares moved higher after Macquarie upgraded its rating on the stock to "neutral," setting a target price of Rs 520. The brokerage cited stronger sales growth in the second quarter and a recovery in demand as the basis for its revised stance.

Jubilant FoodWorks is the operator of Domino's Pizza outlets in India, where it is among the country's largest quick-service restaurant companies. An upgrade to "neutral" signals a shift from a previously more cautious view, indicating the brokerage no longer sees the stock as underperforming, though it stops short of recommending outright buying. Brokerage rating changes such as Macquarie's are closely watched by market participants as indicators of analyst assessments of a company's business performance and outlook. Demand trends in India's quick-service restaurant sector, including delivery and dine-in activity, are a key factor analysts track when assessing operators like Jubilant FoodWorks, and upcoming quarterly results are expected to show whether the demand recovery Macquarie flagged continues.

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Source: CNCTV-TV18