Axis Securities suggests medium term BUY for FMCG major Britannia Industries. Invest around Rs 2700 - 2800 for target price of Rs 3035 as per analysis shared by Axis Securities.

The 117-year-old biscuit major Britannia Industries has entered into an agreement with Fonterra Brands (Mauritius Holding) Ltd, Mauritius, for acquiring the latter's 49% Equity and Preference shareholding in Britannia New Zealand Foods Pvt. Ltd (BNZF), their joint venture company engaged in Dairy business.

With this acquisition, Britannia along with its wholly owned subsidiary will hold the entire equity and preference capital of BNZF. The acquisition is subject to Reserve Bank of India approval.

Despite an economic slowdown, G

Surya Brasil, a Brazilian personal care firm, has plans to setup up a manufacturing facility in the India, to cater the growing demand for its products in the region.

Currently, the company has 8 distributors throughout the country and its products are available at major retail chains. The firm has been operating in the country, for the past two years.

The company expects to clock turnover of Rs 1 crore this fiscal, with the setup of new manufacturing facility. Presently, the company has three manufacturing units in Brazil.

FMCG company Marico has finally agreed to sell its stake in Sundari LLC to US-based Wellness Systems (WS), for an undisclosed amount.

Sundari LLC is engaged in the manufacturing and marketing of skincare cosmetics and accessories, primarily in the US and Europe.

While, Wellness Systems is a limited liability company promoted by two of Marico Group's senior managers who were in charge of the Sundari business.

However, it should be noted that the transaction is, subject to necessary regulatory approvals.

Karvy Stock Broking Limited has maintained ‘Buy’ rating on Hindustan Unilever Limited (HUL) stock to achieve an intra-day of Rs 250.

According to Karvy, day traders can buy the stock between Rs 241-242 with a stop loss of Rs 238.

Shares of the company, on Tuesday (April 21), closed at Rs 242.10 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 9.64 and 25.19 respectively. The share price has seen a 52-week high of Rs 271 and a low of Rs 185 on BSE.