Domino's delivers: Jubilant becomes best-performing mid-cap stock of 2018

A steep cut in the sales tax rate applicable for restaurants, an increase in menu prices and a revival in consumer sentiment have all led to buoyant sales and profit forecasts for the company

Mid-cap stocks in India may not be having their best year, but there is one bright spot among these companies.

After a stellar 106 per cent rally last year, the Indian operator of Domino’s Pizza - Jubilant Foodworks Ltd. - is the best-performing mid-cap stock so far in 2018.

A steep cut in the sales tax rate applicable for restaurants last year, an increase in menu prices and a revival in consumer sentiment in the world’s second-most populous nation have all led to buoyant sales and profit forecasts for the company. Jubilant’s same-store sales growth is expected to be “bolstered”