Latest Stock Market News

As of 31-Mar-2023, promoters held 30.3 per cent stake in the company, while FIIs held 20.57 per cent and domestic institutional investors had 14.94 per cent.

The stock traded at a P/E multiple of 30.78, while the price-to-book value ratio stood at 5.01.

But, by and large, there have been no such events and the company is earning very good return on the money which they have lent to group companies. But I would say that if you are invested in Britannia, remain invested.

Britannia Industries reported a 47% YoY rise in consolidated net profit for Q4FY23, resulting in several brokerages being positive on the stock. Foreign brokerage JP Morgan has maintained a neutral rating while Morgan Stanley remained a buyer with a target of Rs 5,300. Domestic brokerage houses PhillipCapital and Sharekhan have retained a buy on the counter. However, HDFC Securities has given a reduce on the stock. Challenges of low volume growth and volatility in raw materials are likely to continue, it said.

Vishal Khandelwal says people who can think well, independently without the help of artificial intelligence, are set to perform well over the long term. He urged individuals to invest wisely outside the stock market and then hold onto those good investments for an extended period of time in order to create adequate wealth for themselves over the next two decades. Khandelwal said investing would become tougher going forward as people become smarter and wiser, with luck playing an increasingly important role.

​So I would just like to wait for more consistent numbers, industry outperformance before I look at Tech Mahindra again. As I said, right now, the focus is on a lot of the midcap IT stocks.

Promoters held 51.46 per cent stake in the company as of 31-Mar-2023, while FII and DII ownership stood at 12.35 per cent and 3.68 per cent, respectively.

The Relative Strength Index of the stock stood at 53.21 on Monday.

The Nifty Auto index was trading 1.56 per cent up at 13554.0.

A total of 7,232 shares changed hands on the counter till 11:43AM (IST).