Britannia Industries shares jump nearly 11 pc on tie-up with Dunzo for home delivery

Shares of FMCG major Britannia Industries on Tuesday jumped nearly 11 per cent after the company said it has tied up with Dunzo, an on-demand e-commerce platform, to deliver its products during the nationwide lockdown.

The scrip zoomed 10.16 per cent to close at Rs 2,821.40 on the BSE. During the day, it climbed 12.06 per cent to Rs 2,870.

At the NSE, it gained 10.60 per cent to close at Rs 2,835. Customers can get Britannia products at their doorsteps through the Dunzo app in less than an hour of ordering from the 'Britannia Essentials' store.

The first store in Bengaluru will be operational from Tuesday onwards and would be extended to other cities such as Mumbai, Pune, Delhi, Gurugram, Jaipur, Hyderabad and Chennai, a joint statement said.

"During this unprecedented time, it is critical for us to maintain a continuous supply of our products which are daily staples in millions of Indian households. With a significant rise in demand for at-home delivery, we are happy to leverage Dunzo's innovative and most advanced technology platform, to enable seamless delivery of products every day," Britannia Industries Managing Director Varun Berry said.

Britannia's essential products such as biscuits, cakes, rusk, croissants, milkshakes, wafers, ghee and dairy whitener will be sourced by Dunzo from its distribution centers.