Britannia Industries share price jumps on news of inclusion in Nifty from March 29

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Updated: February 26, 2019 11:15:03 AM

Shares of food products major Britannia Industries jumped in trade on Tuesday morning, after the firm is set to get included in the headline index Nifty from March 29. Britannia Industries share price gained by nearly 5% to hit the day's high at Rs 3,198.50 on BSE.

Britannia Industries share price gained by nearly 5% to hit the day’s high at Rs 3,198.50 on BSE. (Image: Reuters)

Shares of food products major Britannia Industries jumped in trade on Tuesday morning, after the firm is set to get included in the headline index Nifty from March 29. Britannia Industries share price gained by nearly 5% to hit the day’s high at Rs 3,198.50 on BSE. Meanwhile, HPCL shares dropped 1.54% to Rs 227.40 on NSE, even as Britannia is set to replace the oil marketing firm’s shares on India’s leading exchange from March 29th.  

Earlier, NSE had said in a press release that it has decided to revise the methodology of sectoral and thematic indices. According to the revised method, all sectoral indices except for Nifty Tata Group, the weightage of each stock in the index will be calculated based on its free-float market capitalisation such that no single stock shall be more than 34% and weightage of top 3 stocks cumulatively will not be more than 63% at the time of rebalancing, PTI reported.

Also read: Share Market Live: Sensex extends losses after IAF attack, Nifty near 10,750; Yes Bank, Sun Pharma down

In the latest quarter, FMCG major Britannia Industries consolidated net profit rose 14% on-year to Rs 300.07 crore driven by sales growth and cost efficiency. The company had posted a net profit of Rs 263.65 crore in the October-December period a year ago, Britannia Industries had said in a BSE filing. Its total income from operations during the quarter under review stood at Rs 2,902.44 crore, up 11.48% compared to Rs 2,603.42 crore in the corresponding quarter previous fiscal.

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