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...
As many as 23 Pakistani nationals rescued by the Indian Navy from Somali pirates after a daring operation in the Arabian Sea on March 29 thanked India and raised slogans of 'India Zindabad'.
The Indian Navy's specialist team had protected them from nine armed pirates, and completed sanitization and seaworthiness checks of fishing vessel Al-Kambar.
The Pakistani crew of the rescued Iranian flagged fishing vessel could be seen raising "India Zindabad" slogans in the Arabian Sea after they were rescued from the pirates.
#WATCH | The crew comprising 23 Pakistani nationals thanked the Indian Navy and raise 'India Zindabad' slogans after the Indian Navy's specialist team protected them from nine armed pirates, and completed sanitisation and seaworthiness checks of FV Al-Kambar.
— ANI (@ANI) March 30, 2024
The crew were… https://t.co/AREXZTtqiR pic.twitter.com/0QE4B7GfSe
Based on the inputs on a potential piracy incident onboard Iranian Fishing Vessel late evening on March 28, two Indian Naval ships, mission deployed in the Arabian Sea for maritime security operations were diverted to intercept the hijacked fishing vessel.
The FV at the time of incident was approximately 90 Nm south-west of Socotra and was reported to have been boarded by nine armed pirates. The hijacked FV was intercepted on March 29.
The Indian Navy remains committed to ensuring maritime security in the region and safety of seafarers, irrespective of nationalities, according to the statement.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
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