Britannia shares dipped post Q3 results

Published On: Thursday, February 11, 2021 | By: Team KnowMyStock

After Britannia announced its December quarter results for FY21 (Q3FY21) on February 5, 2021, the FMCG firm's stock has lost 3.2 percent in the four trading sessions since 10th Feb., as compared to the benchmark S&P BSE Sensex's 1.13 percent gain in the same period. Analysts said that Britannia's sales growth of 6 percent in the quarter under review was "disappointing", even though margin gains remained strong. "Slowdown in sales growth was due to sluggish category trends in MT and reversal of higher in-home consumption demand seen in Q1, with consumer shifting to other snacking options. Commentary indicated a gradual recovery in growth to pre-Covid levels. We cut our FY21-23 estimates marginally by 2-4 percent on account of a sequential slowdown in growth. We expect re-opening of schools/offices to drive on-the-go consumption and improve growth," the brokerage said, adding that it maintains 'Buy' with a revised target price of Rs 4,500.

Closing Bell: Sensex gains 85 points, Nifty at 18755.90

Closing Bell:Sensex gains 418 points, Nifty at 18716.15

MARKET UPDATE: Sensex rose 135 points to 62761, and the NSE Nifty50 moved 40 points higher to 18,600

Closing Bell: Sensex down 223 points, Nifty at 18,563

MARKET UPDATE: Sensex surged over 100 points to trade around 62,962 levels, whereas Nifty50 climbed over 30 points to trade above 18,650 levels

MARKET UPDATE: Sensex gained over 50 points to trade around 63,228 levels, whereas Nifty50 traded marginally above 18,700 levels

MARKET UPDATE: Sensex surged over 150 points to trade around 62,988 levels, whereas Nifty50 gained over 50 points to trade above 18,650 levels

MARKET UPDATE: Sensex traded flat at 62,777 levels, whereas Nifty50 was flat above 18,600 levels

Closing Bell: Sensex up 240 points, Nifty at 18593.85

MARKET UPDATE: Sensex rallied over 300 points, whereas Nifty50 gained over 50 points to trade above 18,600 levels

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