Britannia Industries share price was trading higher today as the FMCG firm was set to announce its earnings for the quarter ended March 2020. Share price of Britannia Industries rose 9.86% or Rs 291 to Rs 3,243 compared to the previous close of Rs 2,952 on BSE. The large cap stock has gained 9.11% in last three days.
Britannia stock is trading higher than its 5 day, 20 day, 50 day, 100 day and 200-day moving averages.
It has gained1.31% since the beginning of this year and risen 2.39% during the last one year.
The stock has gained 43.76% during last one month.
Total 0.55 lakh shares changed hands amounting to turnover of Rs 17.24 crore on BSE.
Market cap of the firm rose to Rs 73,963 crore.
In Q3 of last fiscal, biscuits and bakery products maker Britannia Industries posted a 23.26 per cent rise in consolidated net profit at Rs 369.88 crore in the thirdquarter ended December 2019. The company reported a consolidated net profit of Rs 300.07 crore in the same quarter of last fiscal.
Revenue from operations during the third quarter stood at Rs 2,982.68 crore compared with Rs 2,842.44 crore in the year-ago period.
Axis Securities has given a target of Rs 3,114, an upside of 10% in a time span of 6-9 months.
The brokerage in a report said, "Resilient and diverse product portfolio catering to essential needs and also offering value added products to its consumers ensures. Britannia is insulated to certain extent from coronavirus like pandemic. Further, pressure on cash flows for regional/local players could open up opportunities for the company to gain market share and thereby narrow gap with No. 1 player.
Its strong inmarket execution capabilities and focus on driving premiumization (though it has been pushed by another 1-2 quarters owing to coronavirus pandemic)are key growth drivers from a long term perspective."
Vodafone Idea share price surges 15% after parent firm infuses $200 million
Rupee vs dollar: Rupee rises 48 paise to 76.20 per dollar amid rebound in Asian currencies
Share Market LIVE: Sensex rises 250 points, Nifty above 9,250; ZEE Ent, ONGC, Britannia, top gainers
Stocks in news: Britannia, Bharti Infratel, Torrent Pharma, TVS Motor and more