Shares of Britannia Industries, the Kolkata-based FMCG firm has spiked as much as 10% in intra-day trade today. Earlier, the FMCG major said its board will meet today for considering paying interim dividend on the equity share capital of the Company for the financial year 2019‐20 to the shareholders of the Company.
For the purpose May 2, 2020 has been fixed as the record date implying those shareholders will be eligible for dividend payout whose name is there as on that date on the Register of members of the company.
Since the crisis of Covid 19 began, the stock lost a staggering 34% but has soon recovered over 50% from the Rs. 2100 per share (52-week low price) reached on March 23, 2020.
Meanwhile, brokerage firms expect the company to report growth in double-digit in net profit for the quarter ended March of FY20 due to lower tax rate. Also, revenue will also register a growth of 4-5% compared to last year.
Last, the stock of Britannia quoted higher by 4.08% or Rs. 120.35 at Rs. 3073.00 per share on the NSE.