Britannia Industries slips on profit selling

Britannia Industries fell 1.51% to Rs 6779 at 14:42 IST on BSE on profit booking after a recent rally.

Meanwhile, the S&P BSE Sensex was down 115.57 points, or 0.30% to 38,221.19.

On the BSE, 7868 shares were traded in the counter so far compared with average daily volumes of 15,000 shares in the past two weeks. The stock had hit a high of Rs 6,900 and a low of Rs 6,764 so far during the day. The stock hit a record high of Rs 6,944.10 on 23 August 2018. The stock hit a 52-week low of Rs 4,145.05 on 29 August 2017.

Shares of Britannia Industries rose 8.63% in seven trading sessions to settle at Rs 6,883.75 yesterday, 23 August 2018, from its close of Rs 6,336.70 on 10 August 2018.

Meanwhile, the company announced after market hours yesterday, 23 August 2018, that its board approved sub-division of equity shares from the existing face value of Rs 2 per equity share to face value of Re 1 per equity share.

On a consolidated basis, net profit of Britannia Industries rose 19.42% to Rs 258.08 crore on 13.59% rise in net sales to Rs 2527.24 crore in Q1 June 2018 over Q1 June 2017.

Britannia Industries is one of India's leading food companies. Its product portfolio includes biscuits, bread, cakes, rusk, and dairy products including cheese, beverages, milk and yoghurt.

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