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Jefferies maintains 'hold' on Britannia due to subdued margin trajectory, rich valuations

Updated : November 14, 2019 10:44 AM IST

Jefferies in its report maintained a 'Hold' rating on Britannia with a price target at Rs 2,950 per share as the FMCG giant continues to build new categories with subdued margin trajectory.
The brokerage maintained its rating on Britannia given limited pricing power, slowing pace of market share gains and rich valuations at 48X FY21 PE. 
Jefferies maintains 'hold' on Britannia due to subdued margin trajectory, rich valuations

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