Britannia partners with Dunzo for delivery of food essentials; stock up 10%

Shares of fast moving consumer goods (FMCG) company Britannia Industries jumped 10 per cent to Rs 2,818 on the BSE on Tuesday after the company said it has partnered with on-demand e-commerce platform Dunzo for home delivery of all its products.

Customers can avail Britannia products through the Dunzo app in under an hour of ordering from the ‘Britannia Essentials’ store, news agency PTI reported citing a joint statement by the companies.

The first store in Bengaluru will be operational from Tuesday onwards and would be extended to other cities such as Mumbai, Pune, Delhi, Gurgaon, Jaipur, Hyderabad and Chennai, a joint statement said.

"During this unprecedented time, it is critical for us to maintain a continuous supply of our products which are daily staples in millions of Indian households. With a significant rise in demand for at-home delivery, we are happy to leverage Dunzo's innovative and most advanced technology platform, to enable seamless delivery of products every day," Britannia Industries Managing Director Varun Berry said.

Britannia's essentials products such as biscuits, cakes, rusk, croissants, milkshakes, wafers, ghee and dairy whitener will be sourced by Dunzo from its distribution centers.

Other FMCG stocks, too, were trading higher in the afternoon trade. While Hindustan Unilever (HUL) hit its fresh lifetime high of Rs 2,330, Nestle India was trading over 7 per cent higher at Rs 16,256 levels. Marico was quoting over 5 per cent higher at Rs 275 apiece on the BSE and Dabur was up around 7.5 per cent at Rs 460.75 per share. 

The S&P BSE Fast Moving Consumer Goods, on the other hand, was ruling nearly 6 per cent higher at 10,551 and the S&P BSE Sensex was trading at 29,342 points, up over 6 per cent.

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