FMCG Stock Scales New Peak, Buy For TP Rs 885 As Festive To Propel Growth: Nuvama

Bikaji Foods International shares scaled new high of Rs 776.90 per share on BSE as shares traded fresh 52-week high. Current market price of Bikaji Foods International shares on BSE is Rs 739.40 per share. The market capitalisation of Bikaji Foods International stood at Rs 18,513.26 crore. Bikaji Foods International Ltd shares zoomed 6% in last 2-weeks and zoomed 39% in last 3-monhts.

FII/FPI have decreased holdings from 7.66% to 7.51% in June 2024 quarter. Number of FII/FPI investors increased from 104 to 107 in June 2024 quarter. Tata aia life insurance co ltd has 1.66% stake in Bikaji Foods with 4,147,212 shares of the company. More details below:

Should You Buy Bikaji Foods International? According to brokerage firm Nuvama Institutional Equities, the upcoming festive and wedding season from Q2FY25 expected to propel growth across markets, especially in sweets. Q3FY25 onwards, value growth shall outstrip volume growth. Meanwhile, management of Bikaji expects volume growth to remain between 13%-15% in the medium term. The analyst said, "we shall monitor FSSAI developments related to packaging regulations and its impact on consumer sentiment." Nuvama recommended buy call on Bikaji with target price of Rs 885.

Bikaji Foods International Share Performance: Bikaji Foods International shares witnessed rally of over 2% in last 1-month, soared 35% in last 6-months, and gained 57% in last 1-year. The 52-week high price of Bikaji Foods International Ltd share on BSE is Rs 776.90 per share (as on 02/08/2024) and 52-week low price is Rs 450.45 per share (as on 26/10/2023), respectively. Its PE stood at 62.37 and ROE is 23.41.

Bikaji Dividend History: Bikaji Foods International announced 2 dividends since June 8, 2023. In last 1-year, Bikaji Foods International Ltd. has declared an equity dividend amounting to Re 1.00 per share. At the current share price of Rs 739.40, Bikaji Foods International offers a dividend yield of 0.14%.

Bikaji Foods International Q1: The leading FMCG company on July 24, 2024 declared a surge of 40.2% in its consolidated net profit to Rs 58.06 crore for the quarter ended June 30, 2024 as against the net profit of Rs 41.41 crore in the corresponding quarter of last year. The company's revenue from operations for June 2024 stood at Rs 555.12 crore, up 15.24% as against Rs 481.68 crore announced in the similar quarter of last year. Volume growth of Bikaji Foods International declared at 16.2% YoY helped by the double-digit growth across categories. Its total expense for the quarter under review surged 16.08% to Rs 501.32 crore while total income rallied 18.8% to Rs 579.41 crore.

Disclaimer: The stock has been picked from the brokerage report of Nuvama. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.