 "FMCG shares in demand; CNX FMCG index up 3%")
Shares of fast moving consumer goods companies (FMCG) are in demand and trading higher by up to 7% in otherwise subdued market.
ITC, Colgate-Palmolive, Marico, Gillette India, Jubilant Foodworks and Godrej Consumer Products are up 2-7%. Hindustan Unilever was up nearly 1% at Rs 766, hit new high of Rs 774 during intra-day trade on the National Stock Exchange (NSE).
The NSE CNX FMCG index, the largest gainer among sectoral indices, up nearly 3% to 20,033 compared to 0.15% rise in the benchmark CNX Nifty at 1415 hours.
Colgate-Palmolive (India) has surged 5% to Rs 1,877, also its record high on NSE, after reporting an 18% increase in net profit at Rs 130 crore for the second quarter ended September 30, 2014, on back of strong volume growth. The company had posted a net profit of Rs 110 crore for the same period of previous fiscal.
The company posted a volume growth of 7% for the quarter on toothpaste and continued to enhance its leadership position in toothpaste category by registering a volume market share of 56.7% for the period Jan'14-Sep'14, an increase of 80 basis points over the same period of the previous year, the statement said.
ITC rallied 4% to Rs 369 on back of heavy volumes after Harsh Vardhan on Sunday replaced by senior Bharatiya Janata Party (BJP) leader Jagat Prakash Nadda as the union health minister.
A combined 11.9 million shares changed hands against an average sub 6 million shares that were traded daily in past two weeks on NSE and BSE.
Shares of ITC underperformed the market in post-poll rally. The stock declined 3.3% from Rs 368 on May 15 to Rs 356 till yesterday. The benchmark CNX Nifty rallied 16% during the same period. The stock touched a low of Rs 314 on June 23, 2014.
Among the other individual stocks, Gillette India zoomed 8% to 3,244, also its new high, while Marico (up 3% at Rs 317) and Godrej Consumer Products (2% at Rs 940) on NSE.
ITC, Colgate-Palmolive, Marico, Gillette India, Jubilant Foodworks and Godrej Consumer Products are up 2-7%. Hindustan Unilever was up nearly 1% at Rs 766, hit new high of Rs 774 during intra-day trade on the National Stock Exchange (NSE).
The NSE CNX FMCG index, the largest gainer among sectoral indices, up nearly 3% to 20,033 compared to 0.15% rise in the benchmark CNX Nifty at 1415 hours.
Colgate-Palmolive (India) has surged 5% to Rs 1,877, also its record high on NSE, after reporting an 18% increase in net profit at Rs 130 crore for the second quarter ended September 30, 2014, on back of strong volume growth. The company had posted a net profit of Rs 110 crore for the same period of previous fiscal.
The company posted a volume growth of 7% for the quarter on toothpaste and continued to enhance its leadership position in toothpaste category by registering a volume market share of 56.7% for the period Jan'14-Sep'14, an increase of 80 basis points over the same period of the previous year, the statement said.
ITC rallied 4% to Rs 369 on back of heavy volumes after Harsh Vardhan on Sunday replaced by senior Bharatiya Janata Party (BJP) leader Jagat Prakash Nadda as the union health minister.
A combined 11.9 million shares changed hands against an average sub 6 million shares that were traded daily in past two weeks on NSE and BSE.
Shares of ITC underperformed the market in post-poll rally. The stock declined 3.3% from Rs 368 on May 15 to Rs 356 till yesterday. The benchmark CNX Nifty rallied 16% during the same period. The stock touched a low of Rs 314 on June 23, 2014.
Among the other individual stocks, Gillette India zoomed 8% to 3,244, also its new high, while Marico (up 3% at Rs 317) and Godrej Consumer Products (2% at Rs 940) on NSE.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%