Britannia, HDFC Life trade higher ahead of Q2 earnings

NEW DELHI: Shares of Britannia Industries and HDFC Life Insurance Company traded higher in Monday’s session ahead of their earnings announcement scheduled later in the day.

Britannia was up 0.87 per cent at Rs 3,780 on BSE, while HDFC Life Insurance was up 1.46 per cent at Rs 569.65.

Britannia Industries is likely to continue its stellar performance from the previous quarters and clock double digit growth in volume and sales during the June-September period.

“Britannia will post 12 per cent revenue growth as demand for biscuits remains high as it is a cheap and hygienic product in terms of consumption with many more tea drinking occasions,” said analysts at Elara Securities.

They projected sales for the quarter at Rs 3,411.8 crore, up 11.9 per cent year-on-year and profit at Rs 463.2 crore, a growth of 14.7 per cent.

A press conference for HDFC Life Insurance’s earnings result is scheduled at 3.50 pm.

“Insurance companies have seen encouraging pick up in business, but segments such as ULIPs will drag,” said Sharekhan in its report.

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