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...
The new Chief Minister of Delhi will take oath at the iconic Ramlila Maidan on Thursday in a grand ceremony that will be attended by BJP leaders and ministers and all the allies. Sources said plans are in progress to make the party's return to power in the national capital after 26 years a truly memorable event.
The ceremony will begin at 4.30 pm.
A colourful musical programme will be held on the stage of Ramlila Maidan before the swearing-in ceremony, in which Kailash Kher will also perform.
Chief Ministers and Deputy Chief Ministers of 20 states will attend the mega event. Diplomats of major countries have also been invited. BJP leaders and workers from other states who campaigned in the Delhi elections are also expected to be present on the occasion.
More than 50 film stars and industrialists, will be present. Besides, Farmers of Delhi, beneficiaries of central government schemes including laadli sisters, and common people from Delhi will also be invited to the ceremony.
The spiritual leaders of the country will be represented by Baba Ramdev, Swami Chidananda, Baba Bageshwar Dhirendra Shastri and other religious figures.
There, however, is no word on who is going to get the top job. Initially it was Prime Minister Narendra Modi's visit to France and the US that had delayed a decision. But now, even two days after his return, there has been no announcement, ratcheting up the suspense.
While Parvesh Verma -- the son of former Chief Minister Saheb Singh Verma -- is seen as the front-runner in the race, sources said the list of probables has no less than 15 names that also include candidates for cabinet and the Assembly Speaker.
Nine names will be chosen, sources said, and Delhi will have eight ministers including the Chief Minister.
The 48 BJP MLAs are expected to meet on Wednesday to select their leader, who will succeed Aam Aadmi Party's Atishi.
In the election held earlier this month, the BJP had scripted a massive comeback, winning 48 of the assembly's 70 seats and confining AAP to 22 -- down from 62.
The end to the 10-year rule of AAP came on the heels of massive corruption allegations against its leaders, including then Chief Minister Arvind Kejriwal. A number of its leaders, including Mr Kejriwal and his then deputy Manish Sisodia -- spent months in jail.
Not just the alleged liquor policy scam, the "Sheesh Mahal" allegations against Mr Kejriwal - the Rs 33.6 crore revamp that that turned the official residence of the Chief Minister into an opulent bungalow suitable for the uber-rich - appeared to have taken the sheen off AAP that thrived on its governance records for the better part of the last decade.
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