Morgan Stanley has downgraded Jubilant FoodWorks, India’s largest and fastest growing food service company to equal-weight from overweight. As the investment bank foresees the Indian operator of Domino's Pizza to face increased competition in the delivery business from Pizza Hut.
Jubilant FoodWorks is the master franchisee of Dominos Pizza Overseas Franchising, Netherland, for India, Nepal, Bangladesh and Sri Lanka