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Last Updated : Aug 14, 2019 01:51 PM IST | Source: Moneycontrol.com

Buy Britannia Industries; target of Rs 2950: Sharekhan

Sharekhan is bullish on Britannia Industries has recommended buy rating on the stock with a target price of Rs 2950 in its research report dated August 13, 2019.

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Sharekhan's research report on Britannia Industries


Britannia Industries (Britannia) registered below-par performance with revenue growing by just 6% (driven by 3% volume growth) and PAT remaining flat. New product launches continue to perform well and contribute close to ~3% to revenue. Management expects revival in performance by Q3FY2020; Reduced earnings estimates for FY2020 and FY2021 by 7.1% and 7.4%, respectively, to factor in near-term slowdown.


Outlook


The stock has corrected by 10% since its recent high; Maintain Buy with a revised PT of Rs. 2,950.


For all recommendations report, click here


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First Published on Aug 14, 2019 01:51 pm
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