Britannia Industries soars as its arm acquires stake in Kenafric Biscuits
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Britannia Industries is currently trading at Rs. 3806.45, up by 38.50 points or 1.02% from its previous closing of Rs. 3767.95 on the BSE.
The scrip opened at Rs. 3785.05 and has touched a high and low of Rs. 3825.75 and Rs. 3778.40 respectively. So far 2653 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 3991.00 on 06-Oct-2021 and a 52 week low of Rs. 3050.00 on 08-Mar-2022.
Last one week high and low of the scrip stood at Rs. 3885.30 and Rs. 3755.00 respectively. The current market cap of the company is Rs. 91980.38 crore.
The promoters holding in the company stood at 50.55%, while Institutions and Non-Institutions held 25.39% and 24.06% respectively.
Britannia Industries’ wholly owned subsidiary -- Britannia and Associates (Dubai) (BADCO), has acquired control of Kenafric Biscuits (KBL), a private limited liability Company incorporated in Nairobi, Kenya by subscribing to 51% of the Equity Share Capital of the Company.
Post the acquisition, KBL has become a subsidiary wherein 51% of the equity share capital is held by Britannia and Associates (dubai) private company (BADCO) and 49% of the holding is held by kenafric group, kenya. The object of the acquisition is manufacture and sale of Biscuits in Kenya and African markets.
Britannia Industries is one of the India’s biggest brands of the country. More-than-a-century old Britannia has launched big brands in FMCG segment.
