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Britannia Extends Slide as Rival Cookie Maker Warns of Job Cuts

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Britannia Industries Ltd.’s shares are set for the biggest three-day decline since May, as worries over the slump in demand worsened after a rival biscuit maker said it may be forced to cut jobs if the slowdown persists.

The stock tumbled almost 4% to 2,300 rupees in intra-day trade before recovering partly to 2,351 rupees at 2:18 p.m. in Mumbai, amid volume that was three times the 20-day average for this time of day.