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A total of 40,064 shares changed hands on the counter till 10:30AM (IST)

The deal appears complementary to Gland in terms of EU market access, branded pharma customer base and some technologies, the brokerage said. “We see the scope of meaningful value unlocking, subject to synergy execution,” said the note.

On the technical front, select strong are looking strong and are set for a breakout which may push them higher and reward the investors, suggest analysts.

Britannia Industries, incorporated in the year 1918, is a Large Cap company (having a market cap of Rs 103961.17 Crore) operating in FMCG sector.

The Nifty Realty index was trading 0.91 per cent up at 447.75.

Stocks that were in focus include names like Aditya Birla Capital which was up over 5%, Bank of India which gained nearly 3%, and IDBI Bank which hit a fresh 52-week high to close with gains of over 2% on Tuesday.

The Nifty50 hit a fresh record high of 18,678 in intraday trade on Tuesday, 29 November. Nifty FMCG emerged as a top gainer as the index closed 1.8% higher.

"We believe – if the markets were to remain stable – there could be a slew of IPOs. There are over 50 companies that have applied for IPO and are waiting for the right time to go public, hence a tailwind of the pipeline. Some prominent names that are in the pipeline are Oyo, ESDS, Ixigo amongst others. The SME IPO pipeline is very strong, and we have seen good appetite at even higher valuations in the market."

“The valuations in the FMCG sector have been very high traditionally and it is no surprise to see very high multiples. There is a structural growth story for many years ahead. So this sector is doing well today but if we see some sort of leadership change and China opening up in the next two months ahead, then leadership would perhaps transfer to early cyclicals as opposed to some of these FMCG stocks. ”

"Our approach has been to stick to high-quality businesses run by good management. With this approach, we aim to provide superior returns for investors over the long term, albeit with some volatility for short durations. In fact, we have also conducted a study based on data on close to 1700 companies spanning over the last decade, which substantiates this approach."