Swiggy, Eternal, Jubilant Food, Devyani shares fall up to 6%; here's why
Eternal plunged 5.54 per cent to Rs 229.15. Swiggy Ltd tanked 4.17 per cent to Rs 298.45. The two stocks declined on concerns that food delivery businesses may be impacted as gas shortages disrupt restaurant operations.
- Mar 19, 2026,
- Updated Mar 19, 2026 12:58 PM IST
Shares of online food delivery platforms Swiggy Ltd and Eternal Ltd, along with operator of quick service restaurants (QSRs) such as Jubilant FoodWorks Ltd and Devyani International Ltd, fell up to 6 per cent in Thursday’s trade amid concerns over operations due to West Asia crisis. Fresh concerns emerged after Qatar reported “extensive damage” to the complex hosting the world’s largest liquefied natural gas facility following multiple Iranian strikes. This comes after Israeli attacks on Iran's South Pars gasfield.
Eternal plunged 5.54 per cent to Rs 229.15. Swiggy Ltd tanked 4.17 per cent to Rs 298.45. The two stocks declined on concerns that food delivery businesses may be impacted as gas shortages disrupt restaurant operations. While quick commerce businesses could see a short-term spike in demand due to increased home-cooked food consumption, the impact at the Ebitda level may still be negative, as food delivery remains significantly more profitable than quick commerce at present, analysts noted.
In the case of QSRs, Jubilant FoodWorks Ltd, which holds franchise rights for Domino's Pizza, Dunkin' and Popeyes, dropped 4.22 per cent to Rs 457.75. Devyani International Ltd, India’s largest franchisee for Yum Brands, operating KFC and Pizza Hut outlets, fell 3.67 per cent to Rs 105.10. Westlife FoodWorld Ltd, the master franchise for McDonald's in western India and South India, slipped 0.76 per cent to Rs 436.75. Restaurant Brands Asia Ltd edged 0.24 per cent lower to Rs 62.29. Sapphire Foods India Ltd declined 3.5 per cent to Rs 165.40. Restaurant Brands Asia Ltd was flat at Rs 61.70.
The government of Karnataka in a letter to Minister of Petroleum Hardeep Singh Puri said the state has taken steps to regulate and prioritise allocation for essential segments to manage the situation. But, as against the demand of 50,000 LPG cylinders from restaurants, hotels, catering establishments and PG accommodations etc, it was are able to supply only 1000 cylinders per day.
"As a result, there has been a visible increase in shutting down of establishments due to non-availability of commercial LPG. This is beginning to impact the students, IT professionals, farmers, dairy producers along with a large section of the public which are dependent on the hospitality sector," it noted.
Analysts noted that restaurants are more vulnerable as commercial LPG users are typically rationed first because governments prioritise household cooking gas supply. Earlier Iran named several regional oil and gas facilities as "direct and legitimate targets." These included Saudi Arabia's Samref Refinery and Jubail Petrochemical Complex, the UAE's Al Hosn Gas Field, and Qatar's Mesaieed Petrochemical Complex, Mesaieed Holding Company, and Ras Laffan.
Shares of online food delivery platforms Swiggy Ltd and Eternal Ltd, along with operator of quick service restaurants (QSRs) such as Jubilant FoodWorks Ltd and Devyani International Ltd, fell up to 6 per cent in Thursday’s trade amid concerns over operations due to West Asia crisis. Fresh concerns emerged after Qatar reported “extensive damage” to the complex hosting the world’s largest liquefied natural gas facility following multiple Iranian strikes. This comes after Israeli attacks on Iran's South Pars gasfield.
Eternal plunged 5.54 per cent to Rs 229.15. Swiggy Ltd tanked 4.17 per cent to Rs 298.45. The two stocks declined on concerns that food delivery businesses may be impacted as gas shortages disrupt restaurant operations. While quick commerce businesses could see a short-term spike in demand due to increased home-cooked food consumption, the impact at the Ebitda level may still be negative, as food delivery remains significantly more profitable than quick commerce at present, analysts noted.
In the case of QSRs, Jubilant FoodWorks Ltd, which holds franchise rights for Domino's Pizza, Dunkin' and Popeyes, dropped 4.22 per cent to Rs 457.75. Devyani International Ltd, India’s largest franchisee for Yum Brands, operating KFC and Pizza Hut outlets, fell 3.67 per cent to Rs 105.10. Westlife FoodWorld Ltd, the master franchise for McDonald's in western India and South India, slipped 0.76 per cent to Rs 436.75. Restaurant Brands Asia Ltd edged 0.24 per cent lower to Rs 62.29. Sapphire Foods India Ltd declined 3.5 per cent to Rs 165.40. Restaurant Brands Asia Ltd was flat at Rs 61.70.
The government of Karnataka in a letter to Minister of Petroleum Hardeep Singh Puri said the state has taken steps to regulate and prioritise allocation for essential segments to manage the situation. But, as against the demand of 50,000 LPG cylinders from restaurants, hotels, catering establishments and PG accommodations etc, it was are able to supply only 1000 cylinders per day.
"As a result, there has been a visible increase in shutting down of establishments due to non-availability of commercial LPG. This is beginning to impact the students, IT professionals, farmers, dairy producers along with a large section of the public which are dependent on the hospitality sector," it noted.
Analysts noted that restaurants are more vulnerable as commercial LPG users are typically rationed first because governments prioritise household cooking gas supply. Earlier Iran named several regional oil and gas facilities as "direct and legitimate targets." These included Saudi Arabia's Samref Refinery and Jubail Petrochemical Complex, the UAE's Al Hosn Gas Field, and Qatar's Mesaieed Petrochemical Complex, Mesaieed Holding Company, and Ras Laffan.