India's Britannia eyes worst week in 24 years after bleak Q2 results

Britannia Industries

14/11/2024 09:04

** Britannia Industries  BRIT.NS  falls 2.5% to 4,920
rupees, lowest in six months
    ** Stock down 14% this week, set for worst week since
January 2000
    ** BRIT top loser and worst performing stock this week on
the benchmark Nifty 50 index  .NSEI , which is down 0.04%
    ** Indian markets are closed on Friday for a holiday
    ** Consumer goods major posted smaller-than-expected Q2
profit and rev on Monday amid slump in urban consumption
    ** At least 24 analysts slash PT post results; four
downgrade rating
    ** BRIT rated "hold" on avg now vs "buy" before results;
median PT now at 5,450 rupees vs 5,800 rupees earlier - LSEG
    ** Stock down ~8% YTD

 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))