Devyani International and Sapphire Foods: Kotak Institutional Equities adds Yum franchisees to coverage basket
Devyani International merits valuation premium over Sapphire Foods in view of the larger market opportunity, Kotak Institutional Equities said. Kotak Institutional Equities has initiated its coverage on Devyani International with an ‘add’ rating and target price of Rs 151 and Sapphire Foods India with a ‘buy’ call and target price of Rs 1,425. Sapphire Foods India and Devyani International operate outlets of KFC and Pizza Hut restaurants in India. Both the companies are franchise operators of YUM! Brands in India. KFC and Pizza Hut are two leading brands of Yum.
Devyani International and Sapphire Foods: Kotak Institutional Equities adds Yum franchisees to coverage basket
Devyani International merits valuation premium over Sapphire Foods in view of the larger market opportunity, Kotak Institutional Equities said. Kotak Institutional Equities has initiated its coverage on Devyani International with an ‘add’ rating and target price of Rs 151 and Sapphire Foods India with a ‘buy’ call and target price of Rs 1,425. Sapphire Foods India and Devyani International operate outlets of KFC and Pizza Hut restaurants in India. Both the companies are franchise operators of YUM! Brands in India. KFC and Pizza Hut are two leading brands of Yum.