Britannia Industries' shares hit 52-week high for second consecutive session

Britannia Industries' shares registered a new 52-week high of Rs 5,064.4 per piece on the BSE on Monday, marking their peak level for the second session in a row.

The food products giant had also hit a 52-week high level at Rs 5057.65 apiece on BSE on Friday, June 16. The stock ended 1.44 per cent higher at 5,045.25 per share, extending its gains for the second consecutive day.

The company’s shares have gained 17 per cent so far this year and are up over 50 percent in the past one-year period.

The company recently arranged a visit to its plant located at Ranjangaon in Maharashtra, following which the outlook on the company’s stock has turned more positive in the market. The said plant is located around 50 kilometres away from Pune.

Commissioned back in 2017-18, the Ranjangaon plant meets 10–12 per cent of Britannia’s total demand, and going ahead, the company expects this plant to fulfil a demand of 20 percent of the company’s total production.

The Ranjangaon plant has received multiple approvals from reputed health regulatory agencies, including the United States Food and Drug Administration (USFDA), making it an export-worthy unit.

Britannia Industries has invested a total of Rs 1,500 crore in the Ranjangaon plant.

Western India is one of the major markets for Britannia Industries in the country. The company expects its strong distribution channels and best-in-class facilities to drive and support growth.

Also, thanks to the back-end milk collection facilities, the company’s dairy products segment will get a boost. The company has nine lines for biscuit production, two for cake, and one each for croissants, rusks, snacks, and dairy, it said.

Further, the launch of cheese from the Ranjangaon factory will begin by the end of the ongoing year, with three types of cheese that will be produced, including Cheddar, Mozzarella, and Processed cheese.

Shares of Britannia Industries were trading 0.15 per cent lower at Rs 5037.95 apiece on the BSE at 2:28 PM.