KFC operator Devyani fancies a taste of Indian biryani; shares jump 6%

ReutersApr 21, 2025 7:12 AM

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India's Devyani International DEVY.NS jumps over 6% to one-month high of 175.78 rupees; on course for seventh straight session of gains

KFC and Pizza Hut operator's board to meet on April 24 to approve acquiring Sky Gate Hospitality, which operates Biryani by Kilo

Sky Gate has 3 billion rupee revenue (FY2025) from 106 restaurants/cloud kitchens across more than 40 cities

Emkay Global Financial Services upgrades stock to "buy" from "add" on potential value creation from deal

Acquisition to mark Devyani's foray into biryani category, which is large, delivery-friendly, and offers an opportunity to scale a quick service restaurant (QSR) biryani brand - Kotak Institutional Equities

Says Biryani By Kilo has fared well among biryani QSRs and has superior average daily sales

DEVY trims YTD losses to 3.7%

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