Britannia Crosses Rs 5,000 Per Share, Beats Peers To Surge 15-Fold In 10 Years
Shares of Britannia Industries hit a new lifetime high of Rs 5,064.40 apiece on Monday.
Shares of Britannia Industries Ltd. hit a new lifetime high of Rs 5,064.40 apiece on Monday. The stock crossed the Rs 5,000-per-share mark after hitting at least four record highs in June.
Around 59,000 shares of the company changed hands on the bourse so far on Monday, against the one-month daily average volume of more than 4.3 lakh shares, according to Cogencis. The volume of the stock traded also declined by 87% from the previous session.
The market capitalisation has increased more than 10-fold to nearly Rs 1.21 lakh crore as compared to Rs 10,100 crore in June 2013, while the stock surged 15-fold over in the same period.
As Britannia Industries' shares rose over 1400% in the last 10 years, a person who would have bought the stock on June 18, 2013, at Rs 335.1 apiece would have earned Rs 4,709.6 as of Friday's close.
Shares of Britannia Industries rose 0.39% to hit a record high of Rs 5,064.40 apiece intra-day before. It fell 0.59% to close at 5,014.70, compared to a 0.37% decline in the benchmark NSE Nifty 50.
The total traded volume stood at 2.4 times its 30-day average. The relative strength index was at 82, implying that the stock may have been overbought.
Out of the 42 analysts tracking the company, 31 maintain a 'buy' rating, nine recommend a 'hold,' and two suggest a 'sell,' according to Bloomberg data. The average 12-month consensus price target implies a potential upside of 1.5%.
The scrip was also the top gainer on the Nifty FMCG Index over the last 10 years.
