Britannia stock ready for a rebound: Analysts


Analysts are optimistic about the company’s plan to transform from a biscuit maker to a food company. The stock is trading below its five-year average valuations, they said.

Synopsis

The stock, which has been trading in a range for the last six months, recently crossed its 200-day moving average (DMA) of Rs 3,485. On Wednesday, it ended 0.5 per cent down at Rs 3,540. When a stock crosses its 200-DMA, it is said to be in a bull trend.

Mumbai: The recent underperformance of Britannia Industries’ shares may have set the stage for a rebound, said analysts. The stock, which has shed 2 per cent in a bull market in the past six months, could rebound by as much as 12 per cent in the near term driven by technical strength and lower valuations compared to its peers.The stock, which has been trading in a range for the last six months, recently crossed its 200-day moving average (DMA)

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