Buy Britannia Industries, target Rs 5,500: Sharekhan

Sharekhan has a buy call on Britannia Industries with a target price of Rs 5,500.

The current market price of Britannia Industries is Rs 4,736.55.

Time period given by the brokerage firm is a year when Britannia Industries price can reach defined target.

"We have broadly maintained our earnings estimates for FY2018, FY2019 and FY2020 in view of sustenance of steady volume growth. The strategy of launching new products, growing in adjacent categories and driving margins through operating efficiencies would help it achieve double-digit earnings growth in the coming years. Thus, in view of strong growth prospects, we maintain our Buy recommendation on the stock with an unchanged price target of Rs 5,500," Sharekhan said in a report.