Investing in this stock can increase your wealth, brokerage firm advised to buy
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Multibagger Stock: Britannia continues to be a favorite of stock brokerage firm Edelweiss. Six weeks ago, Edelweiss included Britannia as one of its top picks. Since then the stock has risen 18%. The brokerage firm says that even if there is weakness in this stock on a quarterly basis in the financial year 2021-22, investors should still bet on it.
According to the brokerage firm, “We are positive about Britannia. The company’s products are expanding in the market. Meanwhile, the price of its product has also increased. So far in the second half of the financial year 2021-22, the environment has been favorable for the company. Therefore, this stock is being given a ‘Buy’ rating at a target price of Rs 4,670.
Edelweiss says that the company’s WIN in Many India strategy is proving to be effective. Its market share continues to rise. Due to increase in mobility, opening of malls, the demand for premium products of the company has increased. According to the brokerage firm, Britannia is the value leader in the biscuit category and has consistently gained market share. Its deep distribution network in rural areas will keep it in good stead.
The overall growth of the company has improved with the increase in market share. The company has expanded its capacity in Maharashtra and Tamil Nadu and has commercialized partnerships for manufacturing in Egypt and Uganda. Edelweiss says that there is some risk in front of the company’s shares. Like the increase in the prices of cashew and palm oil.
Disclaimer: (The information provided here is for informational purposes only. It is important to mention here that investing in the market is subject to market risks. Always consult an expert before investing money as an investor. Anyone from ABPLive.com Also investing money is never advised here.)
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