Britannia, Bombay Dyeing: Can Jeh Wadia's exit drag stocks of group cos?

Britannia Industries shares have broken out on the upside and are anticipated to continue the positive rally. Here's what technical charts suggest about the road ahead for listed Wadia Group stocks

Shares of Bombay Burmah Trading Corporation and Britannia Industries, the listed companies of Wadia group, were seen trading higher by 3 per cent and 2 per cent, respectively even as Jehangir Wadia quit from the boards of directors.

Jehangir, 48, in March resigned as managing director of his family-controlled airline of Go Airlines (rebranded as Go First). A month later, Bombay Dyeing and Manufacturing Company said Jehangir had stepped down as its managing director. Britannia’s latest annual report last week said Jehangir (or Jeh in media reports) did not offer himself for reappointment to the board. CLICK