Like most of the FMCG pack, Britannia Industries has been a market favourite given its improving performance in the first quarters of FY19. With the ‘Patanjali effect’ waning off, Britannia has been able to register double-digit net sales growth aided by pick up in consumption especially in rural areas with elections around the corner. The stock from its 52-week low of Rs.2,200 on February 6 gained 57% to reach its 52-week high of Rs.3,472 on August 23. While the stock came off its highs as the market corrected, the stock is still up 42% from its lows closing at Rs.3,133 on November 30.
As Britannia’s stock gains on the back of its double-digit growth, managing director Varun Berry offloads shares worth ₹159 million in the open market
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