The stock of Westlife Development (Westlife), which runs the McDonald’s chain in the southern and western parts of the country, has always enjoyed premium valuation over its only listed peer — Jubilant FoodWorks (Jubilant). However, despite a higher base, the latter’s robust growth potential is likely to provide impetus to its valuation.
The recent outperformance of Jubilant — which is the master franchisee of Domino’s Pizza in India, Bangladesh, Sri Lanka and Nepal — is also an indication that its stock is catching up on the valuation front. In the past six months, Jubilant has gained 37.5 per cent compared