FMCG major Britannia is under pressure in trade after the related party transactions were revealed. Fresh concerns emerged on Britannia after the company revealed their related party transactions to the exchanges on Wednesday.
These transactions reveal that the company had placed nearly Rs 320 crore in terms of inter-corporate deposit (ICD), to group companies - both Bombay Dyeing and Bombay Burmah of which in the last 6 months itself they have received nearly Rs 230 crore from these group companies. So the net increase in inter-corporate deposit towards group companies has been closed to nearly Rs 90 crore.
According to Goldman Sachs, the amount is not significant, the direction that it is taking can cause some concerns.
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