FMCG Stock Net Profit Soars 151%, Hits New 52- Week High, 2 Brokerages Assign Call
Large cap FMCG stock, Britannia Industries Ltd recently declared a jump of 151% YoY in its net profit to Rs 931 crore for December quarter.
The net profit was reported at Rs 371 crore in the December quarter of previous year.
Britannia Industries consolidated sales for Q 3 surged 16% YoY to Rs 4,101 crore and operating profit jumped 55% YoY to Rs 760 crore.
Meanwhile, brokerage firm HDFC Securities reduced the target price of the leading FMCG stock to Rs 3800 apiece.
The current market price of the stock is Rs 4618.85 apiece with intraday gain of 0 .86%.
The stock's 52- week high is Rs 4,656.45 apiece and 52- week low is Rs 3050.00 apiece, respectively.
The company has a market capitalisation of Rs 1,11,159.51 crore.
Brokerages Viewpoint On Britannia Industries
ICICI Securities Recommends Add Call To Britannia Industries: According to the analyst, " Maintain ADD with a DCF- based unchanged target price of Rs4,700.
HDFC Securities Assigns Reduce Call To Britannia Industries: The analyst has recommended reduce rating to the stock with a target price of Rs 4800 apiece.
Key downside risk sustained weakness in consumption demand."
3. About Britannia Industries
Britannia Industries is one of India's leading food companies with a 100 year legacy and annual revenues in excess of Rs. 9000 Cr.
Britannia is among the most trusted food brands, and manufactures India's favorite brands like Good Day, Tiger, NutriChoice, Milk Bikis and Marie Gold which are household names in India, according to its official website.
The stock has been picked from the brokerage report of ICICI Securities and HDFC Securities.
Greynium Information Technologies, the Author, and the respective Brokerage Houses are not liable for any losses caused as a result of decisions based on the article. advises users to check with certified experts before taking any investment decision.
By Renu Baliyan Goodreturns source: Dailyhunt