Analysts expect Britannia Industries still offers a healthy growth outlook, given its strong portfolio expansion and execution, along with improved demand trends in rural areas
Nifty futures were trading 44.50 points or 0.40 per cent at 11,568.50 on Singaporean Exchange, indicating a positive start for BSE Sensex and Nifty 50 on Tuesday
The recent rally in Britannia share price is also largely in part a catch-up rally, hence momentum is likely to sustain if the growth remains stronger beyond Q1
ICICI Lombard, Coffee Day Enterprises, Granules India, Hathway Cable, HCL Technologies, Britannia Industries are among 32 companies that scheduled to announce their quarterly earnings later in the day today.
Britannia Industries shares were trading in the positive territory with a growth of 1.38 per cent at Rs 3,725.70 apiece, as compared to a 0.58 per cent decline in the benchmark S&P BSE Sensex
Analysts at research and brokerage firm Axis Capital noted that staples have recovered smartly, almost back to pre-COVID on exit basis while discretionary is witnessing a pent-up led boost in June
At 10.20 AM, Britannia Industries was trading 5.66 per cent higher at Rs 3,645.65 apiece on the BSE as compared to a 1.15 per cent rise in the S&P BSE Sensex
Britannia Industries Ltd (BIL) share price plunged over 8 per cent on Monday after the FMCG major reported lower-than-expected financial results for the fourth quarter ended March 31, 2016.
Britannia share price gained as much as 1 per cent in the morning trade on Monday after the FMCG major aimed at Rs 20,000 crore turnover within 5-6 years.
Britannia Industries today reported a 19.16 per cent decline in its consolidated net profit at Rs 218.63 crore for the second quarter ended September 30, 2015 on account of phasing out of excise duty benefits.