Britannia's stocks are munching away to glory at the Markets today. Know why
Advertisement
Advertisement
Shares of Britannia said its first quarter Net Profit rose 12 percent to 190 crore rupees compared with 170 crore rupees in the same quarter a year ago. Sales during April-June jumped 13 percent to 2,018 crore rupees from 1,787 crore rupees in the year ago period. The company's operating margin surged 520 bps to 12.93 percent.
Britannia rose 3.2 percent, or 99 rupees, to 3,235 rupees, a record high on the National Stock Exchange, where 5.14 shares were traded by 11:52 am compared with the 5-day average of 2.40 lakh shares.
Britannia's market capitalisation has jumped 187 percent in the past one year to 38,590 crore rupees as investors latched into strong brand franchisees which benefit from falling input prices of wheat and vegetable oils.
Image credit: Indiatimes
Advertisement
Advertisement
- US buys 81 Soviet-era combat aircraft from Russia's ally costing on average less than $20,000 each, report says
- 2 states where home prices are falling because there are too many houses and not enough buyers
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- Foreign tourist arrivals in India will cross pre-pandemic level in 2024
- Upcoming smartphones launching in India in May 2024
- Markets rebound in early trade amid global rally, buying in ICICI Bank and Reliance
- Women in Leadership
- Rupee declines 5 paise to 83.43 against US dollar in early trade