Britannia rises nearly 3% on announcement of bonus debentures

Britannia has given multi-bagger returns in the last five years. On October 07, 2013, the stock had stood at Rs 851.85 It has now zoomed to Rs 5,595, as of Monday's close.

Shares of Britannia rose nearly 3 per cent to Rs 5,690 in the early trade on Tuesday after the company's board announced it will give one free debenture worth Rs 30 in face value for one fully paid-up equity share. The company stated that “the company has completed 100 years of operations and is keen to reward its members for their continued support and belief”.

It said it will utilise its accumulated profits of Rs 8.69 billion for the debenture issue. However, the record date has not been fixed yet.

Britannia Industries is one of India’s leading food companies and