Britannia, Nestle, ITC Touch 52-Week High On Monday’s Trade
The three renowned FMCG companies’ Britannia, Nestle & ITC stocks are in uptrend today and touched a 52-week high on Monday’s trading session.
Shares of three fast-moving consumer goods (FMCG) companies, Britannia Industries Ltd, Nestle India Ltd, and ITC Ltd touched new 52-week highs on Monday’s trade. Analysts claim that due to good Q4FY23 results, all three FMCG stocks continue to perform well.
Britannia Industries Ltd
Britannia Industries Ltd posted a 47% YoY jump in its consolidated net profit for Q4FY23, with consolidated net profit for FY23 increasing by 52.3% YoY to ₹2,322 crore.
Revenue from operations climbed 15.3% YoY to ₹16,300.55 crore. Earnings before interest, taxes, depreciation, and amortization (EBITDA) for Britannia came in at ₹801 crore while margins increased by 20%.
Only volume growth fell short of the street’s forecasts, which were for it to be between 3% and 4%, coming in at 1% to 2%.
Britannia shares have given a fresh breakout, and analysts expect prices to move further in the near-term towards the 4,900 level, while 4,550 is the support level for the stock.
Nestle India Ltd
Shares of Nestle India Ltd picked up momentum to touch an intraday, 52-week high level of ₹22,295.95 per share on BSE.
The company reported a net profit that increased by 24.7% YoY, or ₹737 crore, beating market expectations. A net sales total of ₹4,808 crore was recorded by the company.
While domestic sales grew by 21.2%, the company’s total sales increased by 21.3%. As per trendlyne data, the stock price rose 26% and outperformed its sector by 13% in the past year.
ITC Limited
Shares of ITC Ltd opened at ₹431.20 and touched a 52-week high and intraday high at ₹433.00 per share on the BSE.
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As per trendlyne data, the stock price rose 64.5% and outperformed its sector by 10% in the past year. Further, the company emerged as the top performer so far in 2023 with a surge of 29.32%.
