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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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Electoral Bonds Data A Setback To BJP? What PM Modi Said

Prime Minister Narendra Modi on Sunday rejected the suggestion that the electoral bond issue caused a setback to his government, saying no system is perfect and any shortcoming could be improved upon.

He also said those who are "dancing" over the matter will repent it.

"Tell me what have we done that I should see it as a setback? I firmly believe that those dancing over it (bond details) and taking pride in it are going to repent," he told Thanthi TV in an interview when asked if the electoral bond details have caused a setback to the ruling BJP.

The Prime Minister said it is due to the electoral bond system put in by his government that the sources of funding and its beneficiaries could be found out.

If a trail is available today, it is because of the presence of bonds, he said, asking if any agency can tell about the sources of funding and their beneficiaries for the polls before 2014, the year he came to power.

"No system is perfect. There can be shortcomings which could be improved upon," he said.

Opposition parties have cited the revelations following the Supreme Court order, which brought all information related to electoral bonds in public domain while terming the anonymous funding practice unconstitutional, to attack the government.

Many firms facing criminal probes have turned out to be big buyers of these bonds.

In the interview, PM Modi asserted that one should not see politics in everything he does, saying that he works for the country and Tamil Nadu is its big strength.

If votes were his main concern, then he would not have done so much for the northeast states, the prime minister said, noting that his government ministers have visited the region for over 150 times and he himself has gone there more times than all other prime ministers together have.

"Just because I am a politician does not mean I work only to win elections. Tamil Nadu has huge potential which must not be wasted," he said.

The BJP-led National Democratic Alliance connects different sections of society and represents aspirations of people, he said, adding that the votes it will received in Tamil Nadu will not be anti-DMK but pro-BJP.

He said, "People have witnessed the works we have done over the past 10 years. Tamil Nadu has decided that this time it will be the BJP-NDA." The BJP worked for Tamil Nadu even when it did not have a single municipal candidate there, he said.

PM Modi also praised Tamil Nadu BJP president K Annamalai, saying he is attracting the youth. They think if money and corruption were the motivations for him, then he could have joined the DMK, the prime minister said.

"Viksit Bharat means that every corner of the country should be a recipient of development. I believe that Tamil Nadu has the potential to become the driving force behind our dream of a Viksit Bharat," he said.

PM Modi regretted the politicisation of Tamil language, a swipe at opposition parties which have often accused the BJP of undermining regional languages, and said as the state's cuisine has been globalised, its dialect should be similarly promoted.

"The politicisation of the Tamil language has been detrimental not only to Tamil Nadu but also to the country," he said.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)



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