Britannia Industries share price hit 52-week high of Rs. 3,752.50 apiece on BSE with a gain of 2% on Friday, taking the total market cap of the company to Rs 90,019 crore. Britannia Industries stock price has rallied a enormous 78% in four months from Rs 2,100.55. At the NSE, the stock touched Rs.3,753.60/share.
Recently, the company has informed that the board of directors of the company will meet on July 17, 2020, to consider and approve the Q1 FY21 results of the current fiscal.
“In the medium term, we remain positive on consumer staple companies, which are market leaders with pricing power, have shown agility in on-ground execution, have decent rural exposure, have higher direct reach in traditional channel and have built diversified portfolio along with a presence in products/categories to help leverage new-age distribution channels,” said Nirmal Bang.
Brokerage firm Angel Broking has given an ‘accumulate’ rating to the stock, with a target price of Rs 3,920. “Britannia Industries has an overall distribution reach of 5.5 million outlets. It has narrowed the gap with the No 1 player. The gap with the largest distributed brand is now just 0.8 million outlets which it expects to bridge soon and thereby become the largest player over the medium to long term,” it said.
Corporate Social Responsibility (#CSR): Britannia Marie Gold gives Rs 10 Lakhs to 10 women to start entrepreneurial journey https://t.co/sfillnQyMf @BritanniaIndLtd @GoodDayCookies #Britannia #indiacsrnetwork #Britanniamariegold
— INDIA CSR (@INDIACSR) June 30, 2020
