ITC And HUL

ITC shares dropped 4.13 per cent to ₹413 (adjusted for dividend) in Wednesday's intraday trade on the NSE following a large block deal.

The RBI MPC, on Wednesday, unanimously decided to cut the repo rate by 25 basis points, bringing it down to 6 per cent, from 6.25 per cent earlier.

Among the key themes identified in the report is the growing importance of rural markets. Nuvama expects companies with a stronger rural exposure to outpace urban-focused peers in the next 2 quarters

The hospitality giant has cash and cash equivalent of Rs 1,500 crore

Thus far in the calendar year 2024, the FMCG index was up 1.4 per cent, as against 13.5 per cent rally in BSE Sensex.

The rural markets have outpaced urban demand, registering a 7.6 per cent increase compared to a 5.7 percent rise in urban areas, in the March quarter of FY24

A reversal in the fortunes of FMCG companies is, however, yet to reflect in their financial performance

Technical outlook on FMCG stocks: Dabur and ITC look stronger on charts compared to its peers HUL, Marico and Godrej Consumer Products.

HUL has appointed Shiva Krishnamurthy as Executive Director of its Foods and Refreshment division. It has also appointed Srinandan Sundaram as the Executive Director, Homecare

A key lever of the ITC Next strategy is to spot new opportunities at the intersection of digital, sustainability and enterprise strengths

The company attributed the performance to strong and broad-based growth across markets and channels

However, the counter has lost over 5 per cent from its recent high of Rs 346.25 hit on September 23, 2022 and has underperformed the S&P BSE Sensex, which has lost nearly 2 per cent since then

The S&P BSE FMCG index, which fell 1.62 per cent in intra-day trade today, has slipped 4.5 per cent in the past two trading days

Brokerages expect sales and earnings to grow faster than peers

While ITC's non-cigarette FMCG business revenue comprising foods, personal care and retailing, among others, grew at 11 per cent on a comparable basis, the same for HUL was at 16 per cent