You are here: Home » Markets » News
Business Standard

FMCG shares in focus; Godrej Consumer, Emami hits record high

At 1243 hours, CNX FMCG index was up 1.5% or 297 points at 20,052 as compared to 0.15% rise in the CNX Nifty.

SI Reporter  |  Mumbai 

Shares of fast moving consumer goods companies (FMCG) were in focus and trading higher by up to 7% on the bourses in otherwise subdued market.

United Breweries, Godrej Consumer Products (GCPL), Emami, Marico, Britannia Industries, GlaxoSmithKline Consumer Healthcare, Colgate Palmolive (India), Hindustan Unilever and Jubilant FoodWorks were up between 1%-7% on the National Stock Exchange (NSE).

At 1243 hours, CNX FMCG index was up 1.5% or 297 points at 20,052 as compared to 0.15% rise in the CNX Nifty.

GCPL up 4% at Rs 1,250 and hit a record high of Rs 1,263 on the NSE in intra-day trade. In past one-month, the stock has risen 14% as compared to less than 1% rise in the benchmark index after reported a good set of numbers for the quarter ended March 31, 2015.

In the post earnings call, GCPL management reiterated their focus on enhancing revenue and margin growth in the coming quarters.

Analysts at JP Morgan, ‘overweight’ on the stock with a target price of Rs 1,330.

“Higher revenue growth led by various initiatives to deepen distribution reach/ new product launches and significant focus on margin enhancement (aided by raw materials tailwinds, cost rationalization and improved mix) should support 24% EPS CAGR over FY15- 17E, we estimate,” analysts said in report dated April 29, 2015.

Emami (up 4% at Rs 1,167) and Jubilant FoodWorks (2% at Rs 1,877) too touched their respective record highs on the NSE.

United Breweries, the largest gainer among the CNX FMCG index, was up 7% at Rs 945, while Britannia Industries, Marico and Colgate Palmolive (India) were up 2% each. .


Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Tue, June 30 2015. 12:46 IST
RECOMMENDED FOR YOU
.