15.1 C
Wednesday, January 19, 2022

Britannia Industries lost Rs 4500 crore in 45 minutes, know the big reason

  • Britannia Industries shares are down by 5% in the stock market
  • Till 10 o’clock in the morning, there was a loss of more than 100 crores in every minute.
  • According to experts, there is profit-booking in stocks after good quarterly results.

Britannia Industries lost Rs 4500 crore

After the quarterly results of Britannia Industries, which produces large biscuits, snacks and other food products of the country, profit-booking in the shares has started. If we talk about today, within 45 minutes of opening of the market, more than Rs 4500 crore of the company has become clear. In the quarterly results, the company’s profits have grown by 23 percent year-on-year. Let me tell you that even though the stock market is appearing on the green mark, it is under pressure. Due to the fall in the shares of big companies and the fall of the global market, the stock market is not seeing a big boom.

Also read: Amul to compete with Pepsi-Coca-Cola, launches country’s first milk-based carbonated Celtzer

Britannia shares fall 5 percent

Today, the shares of Britannia Industries are seeing a decline of 5% due to profit booking. At 10 am, the company’s share price was trading around Rs 3570, down by about Rs 200. While the company’s stock opened at Rs 3689 and reached the day’s low of Rs 3575. While on Monday, the company’s stock price closed at Rs 3773.80.

Also read: Smartphones Under Rs. 10000: These 10 Android smartphones equipped with 5 to 6 cameras

The company lost Rs 4500 crore in 45 minutes

If we talk about the loss of the company, then it is related to its market cap. Today, the market has suffered a loss of Rs 4500 crore in 45 minutes till the start of the market today. In fact, the shares of the company had fallen to Rs 86,511.88 crore at 10 am. Whereas when the market was closed yesterday, the company’s estimated market cap was Rs 90880.50 crore. If you look at both the market caps, you are getting Rs 4500.

Also read: iPhone 12 Sets New Record, 23 Phones Pre-booking Every Second

That is, the minute the company lost Rs 100 crore

45 minutes 4500 crore rupees loss to the company is no small matter. This means that the company has incurred a loss of Rs 100 every minute. According to experts, there is a phase of profit-booking in the company’s shares. The company’s shares have been witnessing a decline in the past few days, the company’s shares may see a further decline in the coming days.

Latest news
- Advertisement -
Related news
- Advertisement -