Britannia on upward spiral over better sales, price hike

DALAL STREET SPIKES

Britannia Industries was up 7.42 per cent to Rs 1,301 compared with its previous close of Rs 1,211.10. Nearly 2.38 lakh shares changed hands in the counter on BSE.

The scrip has been on an upward spiral since the last few months due to strong volume growth in biscuit sale and a price hike. The company has also increased the price of its best-selling brands to improve margin.

The stock spurted today as block deals for about 2.75 lakh shares took place on BSE and NSE at a price of Rs 1,280. Britannia's net profit rose 7.2 per cent for the quarter ended June.