Groupe Danone and the Wadia Group hold an equal stake in Associated Biscuits International Holding (ABIH), which in turn holds 51% in Britannia Industries.
At current stock prices of Rs 1610 on the BSE, Britannia Industries is valued at about Rs 3846.29 crore. At market value, the cost of acquiring Danone’s share will be approximately Rs 961 crore, though the Wadia Group is expected to acquire the shares at a discount.
Bombay Burmah’s net profit rose 16.3% to Rs 3.28 crore on 0.8% fall in sales to Rs 52.10 crore in Q1 June 2007 over Q1 June 2006.
Bombay Burmah is part of the Nusli Wadia Group. The company has major interest in tea/coffee plantation, though it has diversified in other streams like laminated products (Sunmika), springs, weighing products, dental products, ophthalmic products, and orthopedic products.
The financials are strong with consistent performance record. Here is a DuPont analysis for the co-
Stock is in an uptrend. A good buying opportunity on this correction as it takes a pause to catch some breath. But the steam is not out though it looks overbought. Bulls are not ready to sell and new buyers are coming in good numbers.
For a more detailed technical analysis, visit my post here -
http://TechnicalChartsAnalysis.blogspot.com
Here is a real-time track of the stock movement.
Aah, this chart is showing a nice Bollinger Band squeeze in the making. We may see a big move in either direction. Normally it is in the direction of the major trend - UpTrend in this case.
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