Britannia Industries share rises over 1% after board clears issue of bonus debentures

Britannia Industries to issue bonus debentures and payment of dividend Share of Britannia Industries rose over 1% today after the firm said its board has approved issuing bonus debentures and payment of dividend to reward its shareholders. Britannia Industries share gained up to 1.35% to Rs 3,880 against previous close of Rs 3,828 on BSE.

The share trades higher than 5 day, 20 day, 100 day and 200 day moving averages but lower than 50 day moving averages. The share has gained 24.85% since the beginning of this year and risen 32.9% during the last one year. Total 9033 shares changed hands amounting to turnover of Rs 3.44 crore on BSE.

Market cap of the firm stood at Rs 90,746 crore on BSE. On Monday, board of the company approved issue of a non-convertible, redeemable fully paid-up debenture of the face value of Rs 29 by way of "bonus to the Members of the Company" for one paid-up equity share of face value of Re 1 (rupee one) each, by utilising its general reserve.

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Besides, the board has also approved payment of dividend of Rs 12.50 per every one fully paid up equity share of face value of Re 1 each by utilising its accumulated profits.

In Q1 of current fiscal, net profit rose to Rs 546 crore against Rs 248.64 crore profit in corresponding quarter of last year. Revenue rose 26 per cent to Rs 3,384 crore. Consolidated EBITDA rose to Rs 717.4 crore in Q1 compared to Rs 395 crore in the year-ago period.

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