Food Companies Win Big As World Cup Hype Grips India

Irrespective of who wins the 2018 World Cup, "pizza and beer makers in India have emerged as top scorers," according to Acharya & Chakraborty of BLOOMBERG. The World Cup, which began weeks after the Indian Premier League cricket season ended in May, has "prolonged the dream run" for Jubilant Foodworks, which operates the local franchise of Domino’s Pizza, and Kingfisher beer owner United Breweries. Jubilant gained 19% since April "to a record," extending a rally that has "tripled the company's market value over the past year." The stock is reportedly rated a buy by 70% of the 32 analysts tracking it. PRB Securities Dir Rajendra Wadher said, "The long sporting season is boosting sales of pizza and alcoholic beverages. 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" (BLOOMBERG, 6/26).