JUBLFOOD

Jan 6 (Reuters) - Jubilant Foodworks Ltd JUBI.NS:

• JUBILANT FOODWORKS - Q3 CONSOLIDATED REVENUE FROM OPERATIONS UP 13.4% YOY

• JUBILANT FOODWORKS- Q3 STANDALONE REVENUE FROM OPERATIONS UP 11.8% YOY

Source text: ID:nnAZN4RRQIN

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Adds details and analyst comments throughout; updates shares

Jan 2 (Reuters) - India's KFC, Pizza Hut operator Devyani International jumped as much as 8.3% on Friday after announcing the long-anticipated $934 million merger with smaller peer Sapphire Foods, creating a fast-food major poised to challenge market leader Jubilant Foodworks.

The combined entity will operate more than 3,000 KFC and Pizza Hut outlets, franchises of Yum Brands YUM.N, in India and overseas, going up against the Domino's Pizza operator Jubilant's 3,480 outlets in the country.

Devyani's DEVY.NS stock was last trading 2.8% higher at 151.39 rupees.

The merger was a "welcome strategic move", said analysts at JP Morgan, as it meant a simplified structure, potential for meaningful cost savings and quicker decision making, helping Devyani compete more effectively with peers and food delivery platforms.

The merger comes as India's fast‑food franchisees contend with higher operating costs, slowing same‑store sales and margin pressures, while consumers trim discretionary spending. Both Devyani and Sapphire logged losses in the September 2025 quarter.

The combined business could deliver revenue and operating profit 50%–60% above current levels, with a scale and growth trajectory approaching Jubilant's, though margins are expected to remain comparatively weaker for now, added Emkay Global.

Devyani will issue 177 shares for every 100 Sapphire shares under the deal.

Sapphire Foods slipped about 3% to 254.25 rupees, while Jubilant's shares were trading 0.2% lower at 552.20 rupees.

The merger ratio is very close to where the stock prices closed on January 1 and so there is no major price adjustment that can arise out of this deal, said Jefferies analysts.

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

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Rewrites throughout, adds deal value in paragraph 1, consultant comment in paragraph 5

By Hritam Mukherjee and Nishit Navin

Jan 1 (Reuters) - India's KFC and Pizza Hut operators Sapphire Foods SAPI.NS and Devyani International DEVY.NS said on Thursday they will merge in a $934 million deal, creating a fast-food franchisee powerhouse in the world's most populous country.

The deal comes as India's fast-food franchisees grapple with higher costs, slowing same-store sales and margin pressure, while facing stiff competition from McDonald's MCD.N and Domino's Pizza DPZ.O operators in a market where consumers are cutting back on non-essential spending.

Devyani will issue 177 shares for every 100 shares of Sapphire as part of the deal and it expects annual synergies of 2.1 billion to 2.25 billion rupees ($23.34 million to $25.01 million) from the second full year of operations of the combined entity.

The companies, partners of Yum Brands YUM.N, run more than 3,000 outlets across India and overseas, including KFC and Pizza Hut dine-in restaurants and compete with the Indian operators of McDonald's and Domino's Pizza chains - Westlife Foodworld WEST.NS and Jubilant Foodworks JUBI.NS.

Both the KFC and Pizza Hut franchisees in India operate at a net loss, making scalability a challenge, said Akshay D'Souza, an independent consumer goods consultant.

"With the single entity, if they are able to unlock even half of the expected synergies, we will be seeing a profitable enterprise... where they can control costs better."

In the quarter ended September, Sapphire's consolidated total costs rose 10% on-year to 7.68 billion rupees, while Devyani's spends rose 14.4% to 14.08 billion rupees.

Devyani reported a net loss of 219 million rupees for the quarter ended September 30, reversing a profit of 170,000 rupees a year earlier, while Sapphire posted a wider consolidated net loss of 127.7 million rupees, compared with a loss of 30.4 million rupees a year ago.

($1 = 89.9625 Indian rupees)

(Reporting by Hritam Mukherjee, Nishit Navin and Nandan Mandayam, writing by Chandini Monnappa; Editing by Howard Goller and Ros Russell)

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Nov 13 (Reuters) - Domino's India operator JUBI.NS posted a consolidated quarterly profit that almost tripled on Thursday, as demand for its affordable pizzas and combo deals stayed strong, bucking the broader slowdown seen across quick-service restaurant peers.

Jubilant Foodworks reported profit of 1.86 billion rupees ($21.16 million) for the quarter ended September 30, compared to a profit a year ago of 640.5 million rupees.

($1 = 87.8950 Indian rupees)

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

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By Praveen Paramasivam

Aug 26 (Reuters) - U.S. pizza chain Papa John's International PZZA.O plans to return to India by October, said a master franchisee executive, aiming to open 650 stores over the next decade in a market where fast-food chains have been struggling to sustain sales growth.

The world's third-largest pizza delivery company, which exited India in 2017 citing underperformance, follows U.S. rival Little Caesars, which opened in India earlier this year with a target of 100 stores by the decade-end.

Papa John's will open its first store in the southern city of Bengaluru, Vish Narain, managing partner at Pulsar Capital, told Reuters. The Indian investment house and UAE-based PJP Investments Group are Papa John's joint master franchisees in India.

The pizza chain had revealed plans in April 2023 to re-enter the "complex market".

Its return comes as fast-food chains grapple with weakening sales in the country, as cash-strapped urban consumers - the key customer base - cut back due to slow wage growth and as rising competition bites.

One of India's two Pizza Hut YUM.N franchisees, Devyani International DEVY.NS, has been closing underperforming stores, while the smaller operator, Sapphire Foods India SAPI.NS, has been cautious with its expansion plans.

The company will also face stiff competition from Domino's Pizza DPZ.O, which has more than 2,200 outlets in India, Pizza Hut with about 950 stores, and smaller upscale chains such as Pizza Bakery and PizzaExpress.

Pulsar Capital is betting on India's long-term potential, mirroring consumer-facing companies such as Dove soapmaker Hindustan Unilever HLL.NS and brewer Heineken HEIN.AS that are continuing to invest in the country with an eye on its population of 1.4 billion.

The fast-food "category is under-penetrated, so we are many years away from saturation," said Narain.

Papa John's plans to tailor its pizza to local palates while also offering its signature pies, joining fast-food rivals offering similar fare. KFC sells a paneer zinger burger, Domino's offers a chicken tikka pie, and Subway serves a potato-patty sandwich.

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

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Aug 13 (Reuters) - Jubilant Foodworks Ltd JUBI.NS:

• Q1 CONSOL NET PROFIT 917.6 MILLION RUPEES; IBES EST. 645.6 MILLION RUPEES

• Q1 CONSOL REVENUE FROM OPERATIONS 22.61 BILLION RUPEES; IBES EST. 18.71 BILLION RUPEES

Source text: ID:nBSE3PkXX6

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June 13 (Reuters) - Jubilant Foodworks Ltd JUBI.NS:

• JUBILANT CONSUMER SELLS 10.6 MILLION SHARES IN JUBILANT FOODWORKS VIA BULK DEAL - NSE DATA

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May 7 (Reuters) - Sapphire Foods India SAPI.NS, which operates Pizza Hut and KFC restaurants in the country, reported a quarterly revenue that missed estimates on Wednesday, as demand failed to pick up despite discounts.

The restaurant operator posted revenue from operations of 7.11 billion rupees ($83.98 million) for the fourth-quarter ended March 31, compared to 6.32 billion rupees a year earlier, according to a regulatory filing.

Analysts had expected 7.14 billion rupees, according to data compiled by LSEG.

($1 = 84.6600 Indian rupees)

(Reporting by Praveen Paramasivam in Chennai and Ananta Agarwal in Bengaluru)

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By Shivani Tanna and Praveen Paramasivam

May 5 (Reuters) - India's Jubilant FoodWorks' JUBI.NS strong sales growth for the March quarter is set to outpace rivals whose franchisees are expected to report muted growth despite value-focused promotions, several analysts said.

Operators of U.S. chains KFC YUM.N, McDonald's MCD.N and Burger King QSR.TO are likely to report a decline to mid-single-digit growth in same-store sales, as inflation-hit consumers cut back and local competition intensifies, according to six brokerages.

Jubilant, however, has already flagged a 12.1% increase in like-for-like sales in India in its quarterly update, which analysts say has benefited from its focus on online sales, discounts on third-party platforms, and a waiver of delivery fees on app orders.

Other franchisees have not issued sales updates. Sapphire kicks off earnings for the sector on Wednesday.

"Competitive intensity is growing in fried chicken and burger and the larger existing players like KFC and McDonald's don't have anything different to offer versus rivals," said Karan Taurani, an analyst at Elara Securities.

"Jubilant is performing the best of the lot," Taurani said, adding that its investments into 20-minute in-house delivery and app-led orders are helping reduce its reliance on third-party platforms, which rivals are heavily dependent on.

India's fast-food sector is cooling as inflation-hit consumers cut back, with franchisees relying on discounts to stay competitive in a crowded market.

Unlike Jubilant, which has pushed delivery and app-based offers, KFC and McDonald's franchisees rely more on dine-in traffic and face growing pressure from local cafes and restaurants, analysts said.

Jubilant reported a 34% jump in consolidated revenue to 21.07 billion rupees ($250.05 million) for the March quarter.

While Jubilant's digital strategy has delivered steady outperformance through the year, analysts expect its profit margins — like those of other operators — to remain under pressure in the March quarter, partly due to rising raw material and marketing costs.

Three brokerages expect Jubilant's core earnings margin — a metric the restaurant operator aims to boost over the next few quarters by tightening its costs — to be unchanged from a year earlier.

However, some analysts see fried chicken as a key long-term growth category, despite the challenge of sameness.

"If you see from a longer-term perspective, the next growth driver is the overall fried chicken category in India, but there would be some pressure for one or two quarters," said Preeyam Tolia of Axis Securities.

($1 = 84.2630 Indian rupees)

(Reporting by Shivani Tanna and Bharath Rajeswaran in Bengaluru and Praveen Paramasivam in Chennai; Editing by Nivedita Bhattacharjee)

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April 23 (Reuters) - Jubilant Foodworks Ltd JUBI.NS:

• JUBILANT FOODWORKS - GETS TAX DEMAND OF 179.1 MILLION RUPEES, PENALTY OF 179.1 MILLION RUPEES

Source text: ID:nBSEbPmRP2

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March 27 (Reuters) - Jubilant Foodworks Ltd JUBI.NS:

• LAUNCHES ANDROID-BASED POS SYSTEM 'ELATE'

Source text: ID:nBSEbXhjQR

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March 20 (Reuters) - ** Shares of Jubilant FoodWorks JUBI.NS fall as much as 2.73% to 620 rupees apiece

** Drop after CLSA says depreciation of Turkish lira is a potential risk for food service company

** Lira depreciated 5% on Wednesday and is down 8.5% YTD

** In early 2024 JUBI acquired DP Eurasia, which operates in Turkey, Azerbaijan and Georgia, and contributed 31% of JUBI's overall sales in December quarter

** JUBI's debt stands at 12.3 billion rupees ($142 million), of which 80% is payable from Turkish cashflow

** "Depreciation of the Lira would lead to additional interest cost burden for JUBI in repayment of debt taken to acquire DP Eurasia," says Aditya Soman, analyst at CLSA

** Average rating of 28 analysts tracking JUBI is "buy"; median TP is 700 rupees - data compiled by LSEG

** JUBI shares down 12.5% YTD vs 11% drop in midcap index .NIFMDCP100

($1 = 86.3825 Indian rupees)

(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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By Arpan Chaturvedi and Indranil Sarkar

NEW DELHI/BENGALURU, Feb 25 (Reuters) - Jubilant Foodworks JUBI.NS said on Tuesday that its Chair Shyam Bhartia has called allegations against him "baseless", following media coverage of a court petition and a police complaint in which an Indian actor accused Bhartia of raping her.

Jubilant, which operates Domino's Pizza, Popeyes and Dunkin' Donuts restaurants across India, said it issued the statement in light of regulatory requirements, after Bhartia told the company that the allegations were "baseless, false and disparaging, and made with clear malafide intent against him."

The court petition and a police complaint, seen by Reuters on Tuesday, show that the actor accused Bhartia of raping her on several occasions. The court petition also accused an alleged associate of Bhartia's of recording the act and blackmailing the actor. The actor's name cannot be disclosed under Indian law.

Bhartia, whose family owns more than a 40% stake in Jubilant Foodworks, has not made any public statements, and he could not be directly reached for comment.

The police did not answer calls seeking comment, while the actor's legal team declined to comment.

Jubilant said an investigation into the allegations is ongoing and it had no additional comment. It said Bhartia would fully cooperate with the investigation.

(Reporting by Indranil Sarkar in Bengaluru, Arpan Chaturvedi in New Delhi and Dhwani Pandya in Mumbai; Editing by Dhanya Skariachan and Lisa Shumaker)

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Recasts to add details on same-store-sales and profit margin in paragraphs 9-10, shares in paragraph 13

Feb 12 (Reuters) - India's Jubilant Foodworks JUBI.NS reported a nearly 35% decline in quarterly profit on Wednesday, as the Domino's Pizza .O> franchise's margins were dented by higher expenses amid accelerated store expansion and elevated food costs.

Jubilant reported a profit of 429.1 million rupees ($4.94 million) for the quarter ended December 31, down from a year-ago profit of 657.09 million rupees.

Weary of persistently high inflation in rent and food costs, budget-conscious Indian consumers have been gravitating towards bargain deals.

Jubilant, like other quick service franchises in the country, has launched value meals to increase footfall in its restaurants and rake in more orders via delivery apps.

The company has launched smaller pizzas priced at around a dollar and lunch combinations for less than two dollars. It has also been waiving delivery fees on its app orders.

As of November last year, the company had not raised prices on its items for at least two years, despite cost inflation, to gain market share.

While these measures have aided topline growth, profit margins have suffered.

Revenue from operations for the third quarter rose about 56% to 25.51 billion rupees.

Same-store sales increased 12.5% year-on-year at its Domino's restaurants In India. They had declined 2.9% the previous year. Average daily spend in older restaurants rose 12.5% to nearly 86,000 rupees.

However, expenses surged 59.3% year-on-year fuelled by higher sequential store expansions and higher wage and food costs, dragging the core profit margin in the quarter down 163 basis points to 18.7% from last year.

Compared to 73 net store additions in the second quarter, Jubilant added 130 new stores in the third. Of these, 67 were Domino's stores in India.

Rival Sapphire Foods SAPI.NS reported an 18.1% rise in quarterly profit, with same-store sales at its Pizza Hut restaurants in India increasing 5%.

Jubilant's shares ended 3% lower after the results.

($1 = 86.8775 Indian rupees)

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

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** Domino's India operator Jubilant FoodWorks JUBI.NS rises as much as 5% to 796.75 rupees, highest since Jan. 17, 2022

** Stock set for fourth straight session of gains

** Co says its Q3 consol rev from ops up 56.2% Y/Y, standalone rev from ops up 18.9% Y/Y

** JUBI logs most active trading session since Nov. 12, 2024, with more than 6.1 mln shares traded - 3.2x the 30-day avg

** Stock rated "hold" on avg; median PT is 630.50 rupees - LSEG

** JUBI rose 5.3% in December quarter - its third straight quarterly gain

(Reporting by Ashish Chandra in Bengaluru)

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** Domino's India-operator Jubilant FoodWorks JUBI.NS climbs 2.3% to 755.65 rupees, highest since Jan. 2022

** Jefferies ("buy") hikes PT to Street-high of 1,000 rupees, implying a 35% upside to last close

** Motilal Oswal ("neutral") raises PT by 28% to 800 rupees, 2nd-highest on Street and an 8.2% upside to last close

** All the other 26 brokerages have a PT that is below JUBI's current price, per LSEG data; their avg rating is "hold"

** Jefferies expects growth boosters --such as no delivery fee, dine-in meal at 99 rupees --to lift same-store sales growth

** JUBI CEO Sameer Khetarpal told Motilal he was optimistic on margin recovery as order volumes, operational efficiencies improve

** JUBI gained 27% in 2024, biggest annual jump since 2021

(Reporting by Manvi Pant in Bengaluru)

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Dec 26 (Reuters) - Jubilant Foodworks Ltd JUBI.NS:

• ENTERED INTO A MEMORANDUM OF UNDERSTANDING WITH COCA-COLA INDIA

• PACT FOR TERMS FOR PURCHASE OF PORTFOLIO OF SPARKLING BEVERAGE PRODUCTS, OTHER PRODUCTS FROM COCA-COLA

  
  

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Adds details and background from paragraph 2

By Indranil Sarkar

Dec 11 (Reuters) - Jubilant Bhartia Group said on Wednesday it will buy a 40% stake in Coca-Cola's KO.N largest bottler in India, as the Indian conglomerate plans to foray into the country's "high growth" beverage sector.

The group, which owns Domino's Pizza's DPZ.N Indian franchisee Jubilant FoodWorks JUBI.NS, did not disclose the financial terms of the deal.

However, Indian media reports said the deal was worth 125 billion rupees ($1.47 billion).

The investment "aligns with our strategic intent to expand and diversify into high-growth industries," Hari S. Bhartia, the group's founder and co-chairman said in a statement.

The Indian beverage sector is seeing steady growth, with revenue generated from non-alcoholic beverages expected to reach over $24 billion by 2027 from $17 billion in 2023, a report from data firm Statista showed.

The investment is also expected to strengthen the position of Coca-Cola-owned Hindustan Coca-Cola Beverages (HCCB) after media reports showed that the bottler had divested operations in three regions in the country earlier this year.

As of November, the bottler had 16 factories in India.

Jubilant Bhartia, which has four listed companies in the Indian stock exchanges, said it will buy the stake in HCCB via its entity Jubilant Beverages.

Morgan Stanley was the exclusive financial advisor to the deal, the group added.

In October, the news agency IFR reported that the controlling shareholders of Jubilant Bhartia Group were planning to raise $1.4 billion from a mix of rupee bonds and structured debt or equity to fund the stake buy in HCCB.

($1 = 84.8060 Indian rupees)

(Reporting by Indranil Sarkar in Bengaluru, additional reporting by Manvi Pant; Editing by Savio D'Souza and Eileen Soreng)

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** Shares of Jubilant Foodworks JUBI.NS jump 7.9% to 649.75 rupees

** Domino's Pizza India restaurant operator posts positive same-store sales growth for second quarter in a row, while peers still in negative territory nL4N3MI0PZ

** Jefferies says it likes JUBI's strategy of "growth over margins" and avoiding price hikes; maintains "buy"

** Elara Capital ("reduce") says JUBI will benefit most from rising trend of ordering in, rather than dining out

** Over 10.9 mln shares traded, 6x 30-day avg volume

** Analysts rate JUBI "hold", on avg -LSEG data

** But at least 9 PT hikes, incl by Jefferies and Elara, lifts the median to 620 rupees from 600 rupees last month

** JUBI extends YTD gains to 15%, most among restaurant operators

(Reporting by Nandan Mandayam in Bengaluru)

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Nov 11 (Reuters) - Jubilant Foodworks Ltd JUBI.NS:

• JUBILANT FOODWORKS Q2 CONSOL NET PROFIT 640.5 MILLION RUPEES; IBES EST. 635.2 MILLION RUPEES

• JUBILANT FOODWORKS Q2 CONSOL REVENUE FROM OPERATIONS 19.55 BILLION RUPEES

Source text: ID:nBSE9q2qcF

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Nov 7 (Reuters) - Jubilant Foodworks Ltd JUBI.NS:

• JUBILANT FOODWORKS - TO INVEST UPTO 400 MILLION RUPEES IN JUBILANT FOODWORKS NETHERLANDS B.V.

Source text: [ID:]

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Oct 24 (Reuters) - Jubilant Foodworks Ltd JUBI.NS:

• GOT TAX DEMAND ORDER FOR 2.16 BILLION RUPEES

Source text for Eikon: ID:nBSE1cpV7F

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- Source link: (https://shorturl.at/Cl158)

- Note: Reuters has not verified this story and does not vouch for its accuracy

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Oct 1 (Reuters) - Jubilant Foodworks Ltd JUBI.NS:

• GETS FINAL ASSESSMENT ORDER RAISING TAX DEMAND OF 707.9 MILLION RUPEES

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By Praveen Paramasivam

CHENNAI, Sept 25 (Reuters) - Indian fast-food chain Wow Momo Foods plans to go public within two years, its CEO said, as the popular dumpling brand aims to replicate the rapid expansion of Domino's Pizza in the world's most populous country.

India's $5 billion fast-food sector has seen significant growth, driven by rising demand among low- and middle-income families.

Valued at 25 billion rupees ($299.33 million) with a network of 650 stores, Wow Momo plans to become the first major local fast-food chain to go public, riding on this shift in consumer behavior.

Tiger Global-backed Wow Momo, which reported revenue of nearly 4.8 billion rupees ($57.47 million) for the fiscal year ending in March, is aiming to double its revenue to 10 billion rupees over the next 30 months, co-founder and CEO Sagar Daryani told Reuters late on Tuesday.

"The public markets are really, really growing ... One homegrown fast-food chain IPO in India will change the script for fast-food play (in the country)," Daryani said.

India's booming stock market .NSEI has hit record highs over 50 times this year, with nearly 200 companies, including e-scooter maker Ola Electric OLAE.NS and telecom operator Bharti Hexacom BHAX.NS, raising billions.

In the restaurant sector, franchisees of Western brands like KFC, McDonald's MCD.N, Burger King, and Domino's DPZ.N have gone public in the past decade. One of the most recent local listing was of Barbeque-Nation Hospitality BARQ.NS, which went public three years ago.

Shares of Bengaluru, Karnataka-based Barbeque-Nation have climbed nearly 28% from their IPO price despite seeing some challenges with footfalls among inflation-weary consumers.

Daryani said he plans to replicate Jubilant FoodWorks JUBI.NS's success, which has expanded Domino's from a single store in India in 1996 to over 1,800 outlets.

Wow Momo, which offers savory dumplings priced between 109-369 rupees ($1.31-$4.42) per serving, plans to increase its store count to 1,000 and become profitable on the basis of a core earnings metric within two years.

While the company experienced a dip in same-store sales from October to May, mirroring a broader slowdown in the Indian fast-food space, sales have recovered, turning positive from June to September, Daryani added.

($1 = 83.5200 Indian rupees)

(Reporting by Praveen Paramasivam; Editing by Nivedita Bhattacharjee)

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BENGALURU, Aug 9 (Reuters) - Jubilant FoodWorks JUBI.NS, Domino's Pizza's DPZ.N Indian franchisee, reported a rise in first-quarter profit on Friday, as value meals attracted budget-conscious customers.

Consolidated net profit rose to 558 million rupees ($6.65 million) for the quarter ended June 30, from 289.2 million rupees a year earlier, it said in an exchange filing.

($1 = 83.9250 Indian rupees)

(Reporting by Ashna Teresa Britto in Bengaluru)

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June 28 (Reuters) - Jubilant Foodworks Ltd JUBI.NS:

• PROPOSED INTERNAL RESTRUCTURING OF CERTAIN OVERSEAS UNITS IS BEING DEFERRED TILL FURTHER INTIMATION

Source text for Eikon: ID:nBSE8LMcqX

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Adds analyst estimates on likely inflows into Adani Ports in paragraph 5

By Bharath Rajeswaran

BENGALURU, May 24 (Reuters) - India's Adani Ports and Special Economic Zone APSE.NS will replace Wipro WIPR.NS in the 30-stock blue-chip S&P BSE Sensex .BSESN, the operator of the index said on Friday.

The BSE, in its semi-annual rebalancing exercise, included the country's largest private port operator, making it the first Adani Group company to join the Sensex, effective June 24.

The Sensex ended the session muted ahead of the announcement. .BO

Two Adani Group companies - Adani Enterprises ADEL.NS and Adani Ports are already part of the other benchmark index NSE Nifty 50 .NSEI.

Adani Ports could see inflows of $252 million after inclusion into the Sensex, while Wipro will likely witness outflows worth $161 million, said Abhilash Pagaria, head of Nuvama Alternative and Quantitative Research.

Adani Ports' inclusion into the Sensex came on the same day when shares of Adani Enterprises recovered in intraday trade to levels last seen in January 2023, before a report by Hindenburg Research triggered a sell-off in Gautam Adani's ports-to-power conglomerate.

Since that report, Adani Ports and Adani Power ADAN.NS have been the best-performing group stocks, rising 86.04% and 157.4%, respectively. They were also the first two Adani companies to bounce back from the drop.

Earlier in May, Adani Ports posted a 76% rise in its fourth-quarter profit, helped by record cargo volumes.

Its stock has jumped 6% this week, its best weekly performance since early February.

Besides the Sensex rejig, REC RECM.NS, HDFC Asset Management HDFA.NS, Canara Bank CNBK.NS, Cummins India CUMM.NS and Punjab National Bank PNBK.NS have been included in the BSE 100 index .BSE100.

The stocks replaced in that index are Page Industries PAGE.NS, SBI Cards and Payment Services SBIC.NS, ICICI Prudential Life Insurance ICIR.NS, Jubilant FoodWorks JUBI.NS and Zee Entertainment Enterprises ZEE.NS.

(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Sohini Goswami and Varun H K)

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** Shares of Jubilant Foodworks JUBI.NS up as much as 4.7%to 502.40 rupees; last up 1.2%

** Domino's India franchisee reported a jump in Q4 profit, benefiting from a one-time gain and more store openings

** Profit before tax stood at 2.25 bln rupees ($27 mln) for the March-qtr, which included a one-time gain of 1.70 bln rupees from revaluing its investment in DP Eurasia N.V. when it acquired more shares

** Nuvama Institutional Equities flags that for JUBI's valuations to improve, a revival in same store sales growth and like-for-like growth is critical

** Expecting a gradual recovery, FY25 and FY26 earnings estimates are cut by 6% and 1%, respectively; revised target price is 487 rupees from 498 rupees - Nuvama

** Average rating of 28 analysts covering stock is "hold"; median PT is 499 rupees - LSEG data

** Including session's move, stock is down 14.6% YTD

($1 = 83.2940 Indian rupees)

(Reporting by Navamya Ganesh Acharya in Bengaluru)

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