How to know if Indian economy is reviving? Keep an eye on this stock

Eating out is one of the first expenditures that consumers reduce when the economy slows, but restaurants are also the first to benefit when sentiment turns around

For equity investors seeking early signs of any revival among India’s consumers, here is a stock to watch: the distributor of Domino’s Pizza and Dunkin’ Donuts in the country.

Jubilant Foodworks Ltd., the nation’s biggest fast food stock and a bellwether for discretionary consumption, has seen its shares shed almost a quarter of their value from a record high about a year ago as Indians cut back on spending. But some analysts are seeing light at the end of the tunnel.

Eating out is one of the first expenditures that consumers reduce when the economy slows, but restaurants are also the first