Britannia shares fall after CLSA downgrades Tiger biscuit maker to 'sell', cuts target by Rs 465
Britannia shares dropped on Monday after CLSA downgraded the FMCG major, whose popular brands include Tiger, Milk Bikis, Good Day, Crackers, NutriChoice and Marie Gold, to 'sell' from 'underperform' citing margin pressure owing to wheat and milk inflation. The brokerage reduced its target price for the Britannia stock by Rs 465.
Britannia shares succumbed to selling pressure on Monday after a downgrade by CLSA along with a cut of Rs 465 in its target price for the FMCG stock. | Image: Reuters