Britannia Industries surges on eyeing cheese products business to grow five-fold in next five years
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Britannia Industries is currently trading at Rs. 4419.40, up by 19.95 points or 0.45% from its previous closing of Rs. 4399.45 on the BSE.
The scrip opened at Rs. 4399.45 and has touched a high and low of Rs. 4428.75 and Rs. 4381.60 respectively. So far 3357 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 4,428.75 on 02-Dec-2022 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. 4,428.75 and Rs. 4160.80 respectively. The current market cap of the company is Rs. 106102.48 crore.
The promoters holding in the company stood at 50.55%, while Institutions and Non-Institutions held 33.30% and 16.14% respectively.
Britannia Industries is eyeing its cheese products business to grow around five-fold in the next five years to touch around Rs 1,250 crore. The company which earlier this week announced a joint venture with the French cheese maker Bel, currently has around Rs 250 crore turnover from its cheese business.
It is hoping commodity prices will come under control going forward with the softening of palm oil prices while that of sugar are stable although wheat prices are on the rise. The company is foreseeing consumption growth in cheese segment coming from the domestic consumer and has plans to invest Rs 160 crore in the next three years.
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.
