 "Hindustan Unilever on recovery mode, ITC battles slowdown")
Shares of fast moving consumer goods (FMCG) companies were in focus with the Hindustan Unilever and Britannia Industries hitting their respective record highs on the National Stock Exchange (NSE) in early morning trade after India Meteorological Department (IMD) estimated above average monsoon rainfall in 2017. An expected recovery in rural demand on expectation of good monsoons augurs well for the FMCG sector.
At 10:01 am; Nifty FMCG index, the largest gainer among sectoral indices, was up 1.8% against 0.69% rise in the benchmark Nifty 50 index.
Hindustan Unilever, Britannia Industries, Emami, GlaxoSmithKline Consumer Healthcare, Marico, Dabur India, Colgate Palmolive (India) and ITC from the index were up between 1% and 4%.
“India looks likely to receive above average monsoon rainfall as concern over the El Nino weather condition has eased in the past few weeks, the chief of the weather office said on Tuesday, raising prospects of higher farm and economic growth,” the Reuters report suggest. CLICK HERE TO READ FULL REPORT.
At 10:01 am; Nifty FMCG index, the largest gainer among sectoral indices, was up 1.8% against 0.69% rise in the benchmark Nifty 50 index.
Hindustan Unilever, Britannia Industries, Emami, GlaxoSmithKline Consumer Healthcare, Marico, Dabur India, Colgate Palmolive (India) and ITC from the index were up between 1% and 4%.
“India looks likely to receive above average monsoon rainfall as concern over the El Nino weather condition has eased in the past few weeks, the chief of the weather office said on Tuesday, raising prospects of higher farm and economic growth,” the Reuters report suggest. CLICK HERE TO READ FULL REPORT.
