BSE Code: | NSE Code: | ISIN: | Sector:
Research Report Detail
|Report Date||Call||Price@Call||Target Price
|Current Status||Time Horizon|
|Target Hit|| Long (1Y)
Religare maintains hold on Britannia Industries
Britannia's Q4 earnings were below estimates. Higher raw material prices would necessitate pricing action in FY17. We continue to like Britannia's volume-led premiumisation story, but current valuation at 29 times FY18 estimated earnings per share deter us from being constructive on the stock.