FIFA World Cup 2018 Fever is high in India, Pizza & Beer makers are in huge Profit: You all may know that after the end of IPL in India, the storm of FIFA is started in Russian which made its way to India. People are looking quite excited about the FIFA World cup 2018 and if you don’t find that the excitement then you should check out the sale growth of Pizza and Beer makers and company in India. You all know that a good match of Football is incomplete without a piece of Pizza or Beer can. Even though it’s not necessary but people are looking quite excited about it.
It doesn’t matter which team is going to win the World Cup, but for the Beer and Pizza sellers, they are the winner. You all should know that the sale is going good and it is prolonged the dream run for Jubilant Foodworks Ltd., which operates the local franchise of Domino’s Pizza Inc., and Kingfisher beer owner United Breweries Ltd. Reports are coming that Jubilant has gained 19% since April to a record, extending a rally that’s tripled the company’s market value over the past year.
The stock is rated a buy by 70% of the 32 analysts tracking it, data compiled by Bloomberg show. Also, the reports are coming that, Rajendra Wadher, director at PRB Securities said, “The long sporting season is boosting sales of pizza and alcoholic beverages,” and he also added that “India’s young population with high disposable incomes are turning to social drinking and fast food. Occupancy at restaurants is higher than usual during the matches.”
On the other hand, Brokerage Equirus Securities Pvt. in a note shared Tuesday maintained its “add” rating on Jubilant and raised the price target by 11% to 3,034 rupees. Also, they added that “Though we are at the initial stage of FIFA 2018 World Cup, early signs indicate that demand during match timings have witnessed some uptick,” United Breweries has gained over 25% since April, reaching an all-time high on June 12.