Moneycontrol Be a Pro
Get App
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.

Broker Research @moneycontrolcom
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

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


Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.




The Great Diwali Discount!
Unlock 75% more savings this festive season. Get Moneycontrol Pro for a year for Rs 289 only.
Coupon code: DIWALI. Offer valid till 10th November, 2019 .
First Published on Aug 14, 2019 01:51 pm
Loading...
Sections
Follow us on
Available On
PCI DSS Compliant