Britannia shares touch all-time high; should you buy, sell, or hold the FMCG giants stock?
Britannia shares scaled an all-time high on May 8 after the biscuit maker reported a strong set of Q4 results. Heres what brokerages recommend on the FMCG stock.
Britannia Industries share price NSE: FMCG company Britannia Industries (BRITANNIA) scaled a record high on Monday after the Tiger glucose biscuit manufacturer reported a strong set of results for the January-March period. The Britannia stock gained as much as 1.7 per cent to Rs 4,700.4 apiece on BSE — its highest ever intraday level.
After market hours on Friday, the FMCG firm reported a 47.53 per cent year-on-year increase in consolidated net profit to Rs 557.6 crore for the quarter ended March 2023 driven by gains from distribution expansion, cost management and softening commodity prices. Its revenue grew 13 per cent to Rs 4,023 crore, according to a regulatory filing.
According to Zee Business research, Britannia's quarterly net profit was estimated at Rs 499 crore and revenue at Rs 4,018 crore.
Its margin improved by 440 basis points to 19.9 per cent compared with the corresponding period a year ago. The analysts had pegged its margin at 17.5 per cent.
Britannia Industries share price target: Should you buy, sell or hold?
Morgan Stanley has maintained an 'overweight' rating on Britannia Industries and raised its target to Rs 5,184 from Rs 4,874.
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