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Restaurant Recovery: Macquarie Has Picked Winners, And Jubilant Isn't On The List

India's quick-service restaurant (QSR) industry is showing early signs of demand recovery, but Macquarie highlights rising costs and intensifying competition from food-delivery aggregators as reasons for its cautiousness. According to Macquarie, post-fourth-quarter trends indicate a gradual improvement in dine-in demand across restaurant chains. Within the sector, Macquarie remains most constructive on franchise operators Devyani International, Sapphire Foods and Westlife Foodworld. However, the recovery remains uneven and is being overshadowed by inflationary pressures and the growing dominance of delivery platforms such as Zomato and Swiggy. The brokerage said same-store sales growth across the listed QSR universe is tracking broadly in line with or slightly ahead of fourth-quarter levels. However, restaurant brands continue to trail delivery aggregators in growth, highlighting a structural shift in consumer behaviour. To counter this trend, restaurant operators have increa...
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Mamata Banerjee May Skip Temple Inauguration, What Her Party Said...

In a rare instance of agreement with the Left parties, West Bengal Chief Minister Mamata Banerjee is also likely to skip the inauguration ceremony of the Ram Mandir in Ayodhya on January 22. While there is no official confirmation yet, Trinamool Congress leaders have indicated that Ms Banerjee does not want to help the BJP further its political narrative on the issue ahead of the Lok Sabha elections. 

Speaking exclusively to NDTV, Trinamool spokesperson Kunal Ghosh said that the party's stand on the issue is clear - it is against what it terms the BJP's attempt to "misuse Lord Ram's name". 

"Mamata Banerjee will soon make her stand clear herself. The Trinamool Congress' stand is that we respect all religions and Lord Ram. We offer prayers to him, but the BJP is misusing Lord Ram's name, and we oppose that," he said.

The spokesperson claimed, "The BJP is trying to divert attention from the main economic issues of the common people. We oppose the political event of misusing Lord Ram's name." 

Trinamool sources said that, around the time of the temple inauguration, the West Bengal chief minister will be busy with the Gangasagar Mela, which takes place during Makar Sankranti (in mid-January). The mela is said to be the second largest gathering of pilgrims, after the Kumbh Mela.

The sources said that, sometime early next year, the chief minister will also inaugurate the replica of the Puri Jagannath temple in Bengal's Digha. Party insiders say this will be Ms Banerjee's 'mandir moment'. 

'Personal Choice'

CPI(M) General Secretary Sitaram Yechury had turned down an invitation to attend the inauguration of the Ram Temple in Ayodhya and the party had said that religion should not be used for political gain. 

"Our policy is to respect religious beliefs and the right of each individual to pursue their belief. Religion is a personal choice not to be converted into an instrument for political gain. Comrade Sitaram Yechury will not attend the ceremony despite receiving an invitation to do so," a post from the party's handle on X said.

CPI(M) leader Brinda Karat also said her party would not attend the inauguration and termed it the "politicisation of a religious programme".

The BJP's Meenakshi Lekhi hit back, saying, "Invitations were sent to all (but) only those called by Lord Ram will come".

Former Congress leader Kapil Sibal also said he had "Lord Ram in my heart" and, thus, didn't feel the need to attend the ceremony. Sources have said the CPI is also likely to skip the event. 



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