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Last Updated : Feb 13, 2020 01:07 PM IST | Source:

Buy Britannia Industries target of Rs 3490: Sharekhan

Sharekhan is bullish on Britannia Industries has recommended buy rating on the stock with a target price of Rs 3490 in its research report dated January 03, 2020.

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Sharekhan's research report on Britannia Industries

Britannia Industries’ (Britannia’s) volumes are expected to continue growing by 2-3% (in line with H1FY2020) as a sustained rural slowdown affects overall category growth. Input costs inflation stood at 3% in Q2FY2020; sustained increase in sugar and wheat prices would drive up input cost inflation in Q4FY2020. We have reduced earnings estimates for FY2020 and FY2021 by 2.6% and 5.7%, respectively to factor in lower sales growth and rise in input prices.


Focus on innovation, building up of new product categories and reducing costs will drive earnings in the near to medium term; maintain Buy with revised PT of Rs. 3,490.

For all recommendations report, click here

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First Published on Jan 6, 2020 03:40 pm
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