HDFC Securities has set a target price of Rs 5,650 for Britannia Industries, indicating a potential upside of around 15% from its current market price. The brokerage firm has maintained a “buy” rating on the stock, citing strong growth prospects and a solid financial performance.
Britannia Industries has been performing well, with its revenue and profit growing at a CAGR of 12% and 15%, respectively, over the past three years. The company’s strong brand portfolio, including Good Day, NutriChoice, and Treat, has helped it to maintain its market share in the Indian biscuits and snacks market.
HDFC Securities expects Britannia Industries to continue its growth momentum, driven by increasing demand for packaged foods, expanding distribution network, and increasing presence in the international market. The brokerage firm also believes that the company’s focus on innovation and new product launches will help it to maintain its market share and drive growth.
Overall, HDFC Securities is optimistic about Britannia Industries’ growth prospects and recommends investors to “buy” the stock, with a target price of Rs 5,650.