DEVYANI

March 10 (Reuters) - Devyani International Ltd DEVY.NS:

• BOARD APPROVES MERGER OF SKY GATE, BLACKVELVET, SAY CHEFS INTO DEVYANI INTERNATIONAL

Source text: ID:nBSEB4KKF

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March 5 (Reuters) - Devyani International Ltd DEVY.NS:

• SHIVASHISH PANDEY RESIGNS AS CEO-YUM BRANDS EFFECTIVE FEBRUARY 28, 2026

Source text: ID:nBSE4zHfsy

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** India's Devyani International DEVY.NS reports increase in quarterly loss due to a one-time charge, names CFO as next CEO (Full Story)

** Shares of KFC India operator jump 6.6% to 131.33 rupees

EARLY RECOVERY SIGNS, BUT SUSTAINABILITY IN FOCUS

** JPMorgan ("overweight", PT: 155 rupees) says EBITDA beat estimates on better margins and notes same-store sales trends improved sequentially, turning positive in January for most formats

** Goldman Sachs ("buy", PT: 160 rupees) flags positive January same-store sales but says it is "too early" to call a sustained recovery

** UBS ("buy", PT: 170 rupees) sees an "emerging turnaround", helped by pricing, promotions and product interventions, says improving profitability in KFC and a rationalised Pizza Hut network could aid growth

** Bernstein ("outperform", PT: 160 rupees) says resolving leadership uncertainty a key positive, cautions recovery could take 4–6 quarters amid operational challenges

(Reporting by Surbhi Misra in Bengaluru)

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Feb 4 (Reuters) - Devyani International Ltd DEVY.NS:

• DEVYANI INTERNATIONAL LTD DEC-QUARTER CONSOL NET LOSS 103.9 MILLION RUPEES

• DEVYANI INTERNATIONAL LTD DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 14.41 BILLION RUPEES

• DEVYANI INTERNATIONAL LTD - ONE TIME CHARGE OF 215 MLN RUPEES IN Q3

Source text: [ID:]

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Jan 8 (Reuters) - Devyani International Ltd DEVY.NS:

• DEVYANI INTERNATIONAL LTD - SKY GATE HAS COMPLETED THE SALE OF ITS ENTIRE 51% EQUITY STAKE HELD IN PEANUTBUTTER

Source text: ID:nnAZN4RSY4C

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Jan 2 (Reuters) - India's KFC and Pizza Hut operator Devyani International DEVY.NS climbed 7.3% on Friday after striking a long-anticipated $934 million merger deal with peer Sapphire Foods SAPI.NS, creating a fast-food major poised to challenge market leader Jubilant Foodworks.

The stock was trading at 158.14 rupees as of 9:17 a.m. IST and was set for best day since August 2025.

(Reporting by Urvi Dugar in Bengaluru; Editing by Janane Venkatraman)

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Jan 1 (Reuters) - Sapphire Foods India Ltd SAPI.NS:

• DEVYANI INTERNATIONAL AND SAPPHIRE FOODS TO MERGE

• ARCTIC INTERNATIONAL TO ACQUIRE APPROXIMATELY 18.5% OF SFIL'S PAID UP EQUITY SHARE CAPITAL

• FULL INTEGRATION OF TWO ENTITIES EXPECTED TO BE COMPLETED WITHIN 15 TO 18 MONTHS FROM DATE OF MERGER

Source text: ID:nBSE5TZkSn

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Dec 30 (Reuters) - Devyani International Ltd DEVY.NS:

• SKY GATE ENTERS AGREEMENT WITH HERITAGE FOODS FOR 51% STAKE IN PEANUTBUTTER

• CONSIDERATION OF 90 MILLION RUPEES FOR SALE OF STAKE

Source text: ID:nBSE7Wc090

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Nov 6 (Reuters) - Devyani International DEVY.NS, which operates KFC and Pizza Hut restaurants in India, reported a quarterly loss on Thursday, as demand across its portfolio remained under pressure.

Popular fast-food chains have been struggling to grow their same-store sales in India, as they deal with stiff competition from local restaurants at a time when urban demand is in early stages of recovery after a long lull.

Firms have been relying on discounted combo deals and new launches to generate demand, while adding stores to capture market share.

Devyani International, which is a franchisee of U.S.-based Yum Brands YUM.N, reported a net loss of 219 million rupees ($2.49 million) in the three months to September end, compared with a profit of 170,000 rupees a year ago.

The firm launched a chickpea burger at KFC, priced at less than a dollar, and a three-topping pizza at Pizza Hut to lure in consumers.

Its revenue from operations rose 12.6% to 13.77 billion rupees, as the company added 263 stores from a year earlier, taking its store count to 2,184 units.

Yum Brands YUM.N said on Tuesday it has begun a strategic review of the struggling Pizza Hut chain, whose sales have lagged that of Yum's other portfolio restaurants Taco Bell and KFC.

Devyani said that the Indian government's sweeping goods and services tax cuts have had "a very minimal" impact on the quick-service restaurant category.

At KFC, same-store sales fell 4.2%, while for Pizza Hut, they fell 4.1% from a year earlier.

Devyani's EBITDA margin declined to 14.1% in the second quarter from 16.3% a year ago, in part due to the acquisition of Biryani by Kilo chain-owner Sky Gate Hospitality, which has been operating at a loss.

In October, Devyani's peer Sapphire Foods SAPI.NS, reported a wider second-quarter loss and said it would halt Pizza Hut expansion in India after the chain's same store sales fell 8%.

($1 = 87.8950 Indian rupees)

(Reporting by Ananta Agarwal in Bengaluru; Editing by Mrigank Dhaniwala)

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** Shares of quick service restaurant (QSR) operators gain between 1% and 3.5%

** India announced GST cuts on hundreds of consumer items ranging from soaps to small cars to spur domestic demand

** While the GST rate on QSR output remains same, lower tax on key inputs like cheese, other dairy products and chicken is down to 5% from 12%

** Jefferies says Jubilant Foodworks JUBI.NS, Devyani International DEVY.NS and Sapphire Foods SAPI.NS to benefit

** JUBI up 3.5%, while DEVY and SAPI rise 2.7% and 1.7%, respectively

** McDonald's India operator Westlife Foodworld WEST.NS climbs as much as 4.9%, last up 1.1%

** JUBI, SAPI, WEST rated "hold" on avg, DEVY rated "buy" - data compiled by LSEG

(Reporting by Manvi Pant in Bengaluru)

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** Bank of America says company-specific factors, not GST cuts, are key for growth and earnings upgrades for consumer firms

** Nifty FMCG Index .NIFTYFMCG is up nearly 1%, driven by a near 4% rise in Britannia Industries BRIT.NS on hopes of GST cut on biscuits

** BofA says if only the 12% GST slab is subsumed with no change to 5% and 18% slabs, the direct impact would be limited

** But moving some categories from 18% slab to lower could imply higher upside

** Brokerage remains selective in the consumer space, prefers Titan TITN.NS among discretionaries; says risk/reward is favourable for Varun Beverages VARB.NS and United Breweries UBBW.NS

** Brokerage more cautious on Avenue Supermarts AVEU.NS and quick service restaurant stocks like Westlife Foodworld WEST.NS, Devyani International DEVY.NS and Sapphire Foods SAPI.NS

** FMCG index is down 1% in 2025 so far, lagging the benchmark Nifty 50's .NSEI 5% rise

(Reporting by Nandan Mandayam and Nishit Navin in Bengaluru)

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** Macquarie cuts PTs on Indian fast food operators after weak Q1; says demand recovery only during Oct festive season

** Cuts PTs on Domino's franchisee Jubilant Foodworks JUBI.NS, McDonald's operator Westlife Foodworld WEST.NS, KFC franchisee Devyani International DEVY.NS and Pizza Hut operator Sapphire SAPI.NS

** Brokerage also lowers EPS estimates for all four with cautious near-term outlook

** Government's GST cut plans "enhances comfort" on demand recovery panning out in H2 FY26 - Macquarie

** Brokerage prefers DEVY followed by WEST; more confident on demand recovery for KFC and McDonald's operators

** On average, DEVY rated "buy", rest rated "hold", by analysts - data compiled by LSEG

** YTD, JUBI down 13%, DEVY falls 6%, WEST drops 11.3%, SAPI 1% down

(Reporting by Nandan Mandayam in Bengaluru)

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** Devyani International DEVY.NS falls 0.7% to 157 rupees

** KFC and Pizza Hut operator posts 88% y/y slump in Q1 profit; rev from ops up 11.1% y/y

** Brokerages see weakness ahead as margins remain under stress

** Core profit margins contracted 15.1% from year-ago 18.3%, weighing on profitability

** PhillipCapital ("Neutral"; PT: 162 rupees) sees higher marketing spends, rise in prices to weigh on profitability

** Macquarie ("Outperform"; PT: 215 rupees) sees continued margin weakness across formats, limited near-term triggers

** Stock rated "buy" on average; median PT is 190 rupees, per data compiled by LSEG

** YTD, DEVY falls 14%

(Reporting by Komal Salecha)

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Adds details throughout

Aug 13 (Reuters) - Devyani International DEVY.NS, which operates Pizza Hut and KFC restaurants in India, reported a nearly 88% slump in first-quarter profit on Wednesday, as it ramped up advertising to whip up demand that has remained sluggish for months.

The Yum Brands YUM.N franchisee reported a net profit of 36.9 million rupees ($420,920.55) for the quarter ended June 30, compared with 301.06 million rupees a year earlier.

Popular fast food chains in India have been struggling to grow the average daily spending as urban customers tighten their wallets amid high costs of living and feeble wage growth, despite easing inflation.

Yum's franchisee partners, Devyani and Sapphire Foods SAPI.NS, both of which operate Pizza Hut and KFC in India, have also turned to offering heavy discounts on meals amid promotional launches.

For the quarter, Devyani offered nine fried chicken pieces for 299 rupees, in a deal called 'epic savers'. It also offered two side dishes and a free Pepsi bottle with a medium-sized thin crust pizza at its Pizza Hut restaurants.

Still, the average daily spending fell to 98,000 rupees from 104,000 rupees a year ago at KFC chains, and to 33,000 rupees from 36,000 rupees at Devyani's Pizza Hut restaurants.

"While near-term macro factors have led to a phase of soft consumer demand, we see a better outlook for the industry in coming times," non-executive chairman Ravi Jaipuria said in a statement.

Revenue from operations rose 11.1% year-on-year to 13.57 billion rupees, benefitting from a restaurant count that was higher by over 300 year-on-year, including the addition of the recently acquired 'Biryani by Kilo' chain.

However, lower margins weighed on profitability.

Core profit margins contracted to 15.1% from 18.3% a year earlier, the company said.

($1 = 87.6650 Indian rupees)

(Reporting by Ananta Agarwal in Bengaluru; Editing by Harikrishnan Nair and Sonia Cheema)

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July 23 (Reuters) - Sapphire Foods India SAPI.NS, which operates Pizza Hut and KFC restaurants in the country, reported a quarterly loss on Wednesday, as fast-food restaurant chains face stiff competition from local cafes and online kitchens.

The restaurant operator posted a net loss of 18 million rupees ($208,345.39) for the first quarter ended June 30, compared to a profit of 85.2 million rupees a year earlier, according to a regulatory filing.

($1 = 86.3950 Indian rupees)

(Reporting by Praveen Paramasivam in Chennai and Ananta Agarwal in Bengaluru; Editing by Subhranshu Sahu)

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Adds statement from Sapphire Foods in bullet 3, updates SAPI share move in bullet 1

** Indian Pizza Hut and KFC operators Devyani International DEVY.NS and Sapphire Foods SAPI.NS rise 3% to 172.1 and nearly 7% to 342 rupees, respectively

** Yum Brands YUM.N is in talks to facilitate a merger of its two franchisee partners, ET reports

** SAPI tells exchanges it is evaluating "various strategic opportunities in ordinary course" with no details of any deal

** DEVY and YUM did not immediately respond to Reuters' requests for comment

** The negotiations could result in DEVY either acquiring the franchisee rights of KFC and Pizza Hut from SAPI, or all of KFC's franchisee stores in India getting consolidated under DEVY, report adds

** Sapphire shareholders to get one share of DEVY for every three owned, report said

(Reporting by Hritam Mukherjee and Ananta Agarwal in Bengaluru)

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June 23 (Reuters) - Devyani International Ltd DEVY.NS:

• DEVYANI INTERNATIONAL - EXECUTES AGREEMENTS TO BUY ADDITIONAL SKY GATE STAKE

• DEVYANI INTERNATIONAL - DEAL FOR UP TO 1.06 BILLION RUPEES FOR SKY GATE SHARES

• DEVYANI INTERNATIONAL - EQUITY STAKE IN SKY GATE TO INCREASE TO 86.13%

Source text: ID:nBSE5ywYzw

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** India's Devyani International DEVY.NS jumps over 6% to one-month high of 175.78 rupees; on course for seventh straight session of gains

** KFC and Pizza Hut operator's board to meet on April 24 to approve acquiring Sky Gate Hospitality, which operates Biryani by Kilo

** Sky Gate has 3 billion rupee revenue (FY2025) from 106 restaurants/cloud kitchens across more than 40 cities

** Emkay Global Financial Services upgrades stock to "buy" from "add" on potential value creation from deal

** Acquisition to mark Devyani's foray into biryani category, which is large, delivery-friendly, and offers an opportunity to scale a quick service restaurant (QSR) biryani brand - Kotak Institutional Equities

** Says Biryani By Kilo has fared well among biryani QSRs and has superior average daily sales

** DEVY trims YTD losses to 3.7%

(Reporting by Vivek Kumar M)

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** India's Devyani International DEVY.NS jumps over 5% to one-month high of 164.3 rupees; set for fourth consecutive session of gains

** Kotak Institutional Equities upgrades KFC and Pizza Hut outlets operator to "buy" from 'add", raises PT to 190 rupees from 175 rupees

** Cites 20% stock correction in three months, expectations of better growth in FY26, portfolio augmentation as key triggers

** Says short-term headwinds aside, KF India's fundamentals are intact

** Analysts on avg rate DEVY "buy", median PT is 195 rupees, as per LSEG data

** YTD, DEVY still down 10%

(Reporting by Vivek Kumar M)

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** Long-term view on Indian QSRs (Quick Service Restaurants)remains constructive and the ongoing prolonged growth slowdown is nearing its end, says Emkay Global

** Sees potential for return of mid-teen growth in FY26E for QSRs, beyond the muted Q4 - Emkay

** Emkay covers Jubilant Foodworks JUBI.NS, Westlife Foodworld WEST.NS and Devyani International DEVY.NS with "add", while Sapphire Foods SAPI.NS gets a "buy" rating.

** JUBI, DEVY and WEST up between 0.8%-4.2%, while SAPI is down close to 1%

** Average recommendation for JUBI, DEVY and SAPI is "buy," while WEST is a "hold", as per LSEG data

** Emkay remains in favor of JUBI and Sapphire, led by relatively better operating performance

** Maintains "add" on Westlife and upgrades Devyani to "add" from "reduce", due to price correction.

(Reporting by Shivani Tanna in Bengaluru)

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** Motilal Oswal sees selective opportunities emerging in equities linked to consumption due to cheaper valuations following the recent drop

** FMCG index .NIFTYFMCG is down 6.4% in 2025 so far compared; Nifty 50 up 0.3%

** In the last two decades, consumer stocks have risen in all 11 phases of corrections in the benchmark Nifty 50 index .NSEI

** However, NIFTYFMCG has fallen 22.65% between the end of September 2024 and February 2025 vs 14.3% drop in Nifty 50

** Recent market drop has offered entry points in several key consumer and retail stocks, says brokerage

** Expects consumer indexes to recover in FY2026 as valuations ease

** Motilal's key small-cap, mid-cap picks include Page Industries PAGE.NS, Devyani International DEVY.NS, Metro Brands METB.NS, V-Mart VMAR.NS, Lemon Tree Hotels LEMO.NS, LT Foods LTOL.NS and Cello World CELO.NS

** Tax cuts and RBI rate cut in February will boost aggregate demand, investor sentiment, according to Motilal

(Reporting by Bharath Rajeswaran in Bengaluru)

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** Shares of Domino's Pizza DPZ.O franchise Jubilant Foodworks JUBI.NS fall 4.3% to 642.4 rupees

** Co said on Thursday it expects 200 bps growth in PAT margin over FY25-FY28, double digit rev compound growth by adding 1000 new stores

** Guidance of merely 200 bps PAT margin scale-up over next three years disappointing, said analysts at Nuvama Institutional Equities

** Emkay Research said growth strategy sound but margin pickup slow

** Factors including hike in delivery sales mix, high debt, interest cost, investments logistics will put pressure on margins, said Philip Capital analysts

** Avg rating on JUBI "buy", same as rivals Devyani International DEVY.NS and Sapphire Foods SAPI.NS - data compiled by LSEG

** Stock down ~7% so far this year vs a fall of 5% and 7% in DEVY and SAPI, respectively

(Reporting by Ashna Teresa Britto in Bengaluru)

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** Devyani International DEVY.NS, which operates KFC and Pizza Hut restaurants in India, falls 2.19% to 166 rupees

** Co's Q3 profit before tax drops 12% y/y amid dip in same-store sales for Pizza Hut and KFC in a weak demand environment

WEAKEST SAME-STORE SALES AMONG PEERS; PIZZA HUT EXPANSION TO MODERATE

** Ambit Capital ("sell"; PT: 142 rupees): DEVY reports weakest same-store sales among peers in Q3, "recovery is prolonged"

** Prefers rival Sapphire Foods SAPI.NS, which also operates Pizza Hut and KFC, on more attractive valuations

** Elara Capital ("buy"; PT: 215 rupees): Pizza Hut's same-store sales decline of ~1% y/y already on a low base given last year's ~12.6% drop

** Says Devyani to focus on improving unit economics, moderately expand store count

** Emkay ("reduce"; PT: 170 rupees): While growth turnaround is built into estimates, signs of initial recovery not seen yet for rating upgrade

** Says co's average daily spend was flat y/y vs a moderate increase reported by SAPI, in part due to DEVY's lower presence in metros where demand was better

(Reporting by Ananta Agarwal in Bengaluru)

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** KFC and Pizza Hut India operator Devyani International Ltd DEVY.NS falls 4.56% to 169.9 rupees after Q3 results

** Co reports about 12% decline in Q3 profit before tax as expenses marginally outpace revenue growth amid accelerated store expansion

** Revenue from operations increases 53.5%; co adds 111 net new stores

** Same-store-sales decline 4.4% and 0.8% y/y in key brands KFC and Pizza Hut, respectively, in a muted demand environment

** Q3 reported core profit margin contracts to 16.9% from 17.4% last year

** With session's decline, co trims 12-month stock price gain to 11.8%

(Reporting by Ananta Agarwal in Bengaluru)

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** Indian restaurant operator stocks jump between 3% and 10% after slew of demand-boosting measures in union budget

** Zomato ZOMT.NS and Swiggy SWIG.NS soar 6.5% and 7%, respectively

** Both were hit hard by cooling demand over last two months

** Among restaurant operators, Pizza Hut and KFC India franchisee Sapphire Foods SAPI.NS gains the most; Burger King's Indian operator Restaurant Brands Asia's RESR.NS up 3%, rising the least

** Domino's franchisee Jubilant Foodworks JUBI.NS gains 5%, Pizza Hut's other Indian operator Devyani Internatinal adds ~7%; McDonald's franchisee Westlife Foodworld WEST.NS advances 8.8%

** Finance Minister Nirmala Sitharaman says those earning up to 1.28 mln rupees ($14,791.53)/year won't have to pay any taxes

($1 = 86.5360 Indian rupees)

(Reporting by Nandan Mandayam in Bengaluru)

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** Macquarie Equity Research anticipates uptick in demand for KFC in India, expects a turnaround for Pizza Hut, and a value-based recovery for McDonald's chains

** Devyani International DEVY.NS and Sapphire Foods SAPI.NS operate KFC and Pizza Hut chains in India, while Westlife Foodworld WEST.NS operates McDonald's

** Macquarie initiates coverage on DEVY and SAPI with "outperform" while reiterating the same on WEST

** There is near-term risk for KFC's same-store sales growth, but focus on value, strong competitive position in chicken, favorable base are expected to drive steady recovery - Macquarie

** Adds, pace of KFC store additions likely to be slower in SAPI vs DEVY due to longer gestation for chicken adoption in SAPI's KFC geographies

** Expects healthy EBITDA growth for DEVY in KFC given competitive position in chicken category

** For WEST, expects continued growth in footfalls buoyed by focus on value and launch of McCrispy chicken platform

** DEVY up 4.5% currently, while WEST up 0.2%; SAPI down 0.5%

** SAPI gained 16% in 2024, while DEVY and WEST shed 6% and 3%, respectively

(Reporting by Ashna Teresa Britto in Bengaluru)

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** Shares of India's McDonalds's operator Westlife Foodworld WEST.NS rise as much as 5.2% to 837.4 rupees, its highest since Sept. 27

** Goldman Sachs reiterates street high PT of 1,045 rupees, maintains "buy" rating

** Says positive impact of co's menu interventions expected to drive growth in Q3

** Co says confident of delivering positive same-store sales growth in Q3, will be better than peers, during interaction with GS

** Guest count to see decent growth in Q3, aided by soft base in year-ago quarter- GS

** More than 252,000 shares change hands, 2.2x its 30-day avg

** Rivals Domino's operator Jubilant Foodworks JUBI.NS rated "hold", KFC franchisees Devyani International DEVY.NS and Sapphire Foods SAPI.NS rated "buy" and Burger King operator Restaurant Brands Asia RESR.NS also at "buy"

(Reporting by Ashna Teresa Britto in Bengaluru)

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Nov 11 (Reuters) - Devyani International DEVY.NS, which operates the KFC and Pizza Hut restaurants in India, reported a bigger-than-expected rise in second-quarter revenue on Monday as it added hundreds of new stores in the country, sending its stock up about 6%.

Global consumer-facing firms such as Hindustan Unilever HLL.NS, the Indian arm of the UK's Unilever, and McDonald's MCD.N are doubling down on the world's fastest-growing economy, despite a recent inflation-led slowdown in consumption.

Devyani on Monday also said it had signed deals with Malaysian beverage brand Tealive, Canadian fast-food company New York Fries and Singapore-based Thai and Asian food chain Sanook Kitchen to operate their restaurants in India.

"The franchise agreements definitely are a positive surprise," Elara Capital analyst Karan Taurani said, adding the launch of three more brands would boost Devyani's positioning on delivery platforms as well as revenue over the long term.

Store count for Devyani, which runs KFC, Pizza Hut and Costa Coffee stores in India, rose to 1,557 restaurants in the country from 1,298 last year.

It also has 364 stores in Nigeria, Nepal and Thailand.

The addition of new stores pushed its revenue higher by 49% to 12.22 billion rupees for the second quarter ended Sept. 30, just above the expectations of 12.20 billion rupees, according to estimates compiled by LSEG.

However, demand at its older stores was weak, with same-store sales at Devyani's Pizza Hut and KFC stores in India declining 5.7% and 7%, respectively.

Devyani's profit slumped to about 170,000 rupees ($2,014.89), from 333.5 million rupees a year earlier. Analysts had expected 182.4 million rupees, according to estimates compiled by LSEG.

Last year, it had a one-off gain of 139.9 million rupees.

Sapphire Foods SAPI.NS, which also runs Pizza Hut and KFC restaurants, posted a surprise loss, while Burger King operator Restaurant Brands Asia RESR.NS booked a bigger loss. Profit at Westlife Foodworld WEST.NS, which runs McDonald's, slid.

($1 = 84.3720 Indian rupees)

(Reporting by Praveen Paramasivam in Chennai; Editing by Janane Venkatraman)

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Oct 23 (Reuters) - Devyani International Ltd DEVY.NS:

• DEVYANI INTERNATIONAL LTD - APPOINTS SHIVASHISH PANDEY AS CEO – YUM BRANDS

Source text for Eikon: ID:nBSE7RQW2K

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** Bernstein starts coverage of supermarkets operator Dmart AVEU.NS, fashion retailer Trent TREN.NS, Jubilant FoodWorks JUBI.NS, Devyani International DEVY.NS with "Outperform"

** Says Dmart has "clear value positioning"; Trent benefiting from private label portfolio

** Dominos India franchisee Jubilant and KFC India operator Devyani to see boost from revival in fast food demand, menu innovation, expansion

** Consumers beyond the top 10% of income pyramid and outside the top 40 cities to boost retail, restaurant sectors: Bernstein

** Brokerage however rates fashion retailer Aditya Birla Fashion & Retail ADIA.NS and McDonald's operator Westlife Foodworld WEST.NS "Underperform"

** Rigid cost structure to weigh on WEST profitability; debt overhang and weak growth in legacy brands to hurt ADIA - brokerage

** Starts Pizza Hut operator Sapphire Foods SAPI.NS with "Marketperform", citing high valuations

** FMCG index .NIFTYFMCG is up 10.14% in 2024, underperforming the 15.3% rise in Nifty 50 .NSEI

** TREN up 6%, DEVY up 1.2% while AVEU is trading 0.2% lower; ADIA, JUBI, WEST, SAPI down 0.3%-1.6% - Exchange data

(Reporting by Bharath Rajeswaran in Bengaluru)

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