Britannia Industries hits new high; stock surges 70% in one year

Stock Market of Britannia Industries were trading higher for the fifth straight day, hitting a new high of Rs 6,189 per share, up 1.5% on the BSE in intra-day trade on Friday.
Stock of the leading food company was up 4% as compared to 1.2% decline in the S&P BSE Sensex during the week. In past one year, Britannia Industries has rallied 70% from Rs 3,638 against 14% rise in the benchmark index.

Since May 14, in past one and half months, the stock gained 13% after the company reported a healthy 25% year on year jumped in its consolidated net profit and 13% growth in revenue in March quarter. On comparison, the Sensex was down nearly 1% during the same period.

During the quarter revenue growth was backed by the positive momentum in the market. Premiumization and increase in distribution footprints have resulted in better realization, improved profitability and robust volume growth especially in the rural India.

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