Restaurant stocks to gain as GST lowered to 5% from 18%

Jubilant FoodWorks

Shares of restaurants owners are likely to gain after the GST Council, on Friday, lowered goods and services tax on air-conditioned and non air-conditioned restaurants to 5% from 18% without accounting for input tax credit.

There is a positive sentiment for restaurant chain owners like Jubilant Foodworks, Westlife Development, and Speciality Restaurants.

Brokerage Credit Suisse Securities India upgraded the stock of Jubilant  Foodworks to "outperform" from "neutral" following the revision in the tax rate.

On Friday, shares of Jubilant Foodworks and Westlife Development ended 0.75% and 0.25% higher, respectively, while those of Speciality Restaurants closed 3.9% lower. 






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