BUZZ-Indian QSR stocks fall on commercial LPG shortage

Reuters03-13
BUZZ-Indian QSR stocks fall on commercial LPG shortage

** Indian quick service restaurants fall 0.4%-4.5%

** Middle East conflict-driven commercial LPG shortage expected to disrupt ops, may hit delivery volumes

** Pizza Hut operator Devyani DEVY.NS down 4%, KFC operator Sapphire Foods SAPI.NS dips ~4.5%

** Market leader Jubilant Foodworks JUBI.NS eases 0.4%

** However, oil minister says India securing more LPG from new sources like U.S., Norway, Canada, Russia

** YTD, SAPI down ~37%; JUBI, DEVY falls 17% and 24%, respectively

(Reporting by Urvi Dugar in Bengaluru)

((UrviManoj.Dugar@thomsonreuters.com;))

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