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Kotak Securities has given buy rating Britannia Industries with a target price of Rs 3720. The share price moved up by 1.80 per cent from its previous close of Rs 3612.85. The stock’s last traded price is Rs 3677.80 .
Britannia Industries Ltd., incorporated in the year 1918, is a Large Cap company (having a market cap of Rs 87791.72 Crore) operating in FMCG sector.
Financials
For the quarter ended 30-06-2020, the company reported a Consolidated sales of Rs 3384.46 Crore, up 20.54 % from last quarter Sales of Rs 2807.78 Crore and up 26.41 % from last year same quarter Sales of Rs 2677.32 Crore. The Company reported net profit after tax of Rs 542.58 Crore in latest quarter.
Investment Rationale
Stock is consistently taking support near 3550 and stock has formed Hammer kind of reversal formation which clearly suggest high chances of quick pullback rally from current levels.
Promoter/FII Holdings
Promoters held 50.63 per cent stake in the company as of March 31, 2020 while FIIs held 14.72 per cent, DIIs 13.37 per cent and public and others 21.28 per cent.
Britannia Industries Ltd., incorporated in the year 1918, is a Large Cap company (having a market cap of Rs 87791.72 Crore) operating in FMCG sector.
Financials
For the quarter ended 30-06-2020, the company reported a Consolidated sales of Rs 3384.46 Crore, up 20.54 % from last quarter Sales of Rs 2807.78 Crore and up 26.41 % from last year same quarter Sales of Rs 2677.32 Crore. The Company reported net profit after tax of Rs 542.58 Crore in latest quarter.
Investment Rationale
Stock is consistently taking support near 3550 and stock has formed Hammer kind of reversal formation which clearly suggest high chances of quick pullback rally from current levels.
Promoter/FII Holdings
Promoters held 50.63 per cent stake in the company as of March 31, 2020 while FIIs held 14.72 per cent, DIIs 13.37 per cent and public and others 21.28 per cent.