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Motilal Oswal Report
Restaurant Brands Asia Ltd., the operator of Burger King in India, is in focus after Motilal Oswal Financial Services reiterated its 'Buy' rating on the stock following a stronger-than-expected June quarter. The brokerage maintained its target price of Rs 125, implying a potential upside of about 75% from current levels.
Motilal Oswal said RBA delivered a 'confidence-boosting' quarter, driven by the strength of its India business. Revenue from the India operations rose 24% year-on-year, ahead of estimates, supported by a 14% increase in store count and industry-leading same-store sales growth (SSSG) of 12.6%.
The brokerage noted that demand remained healthy across both dine-in and delivery channels, aided by value offerings and successful product launches.
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