FMCG shares in focus; HUL hits new high, ITC up 2% post Q4 results

HUL, P&G Hygiene, Britannia Industries, Colgate-Palmolive, Jubilant FoodWorks, Dabur India and Marico were up in the range of 1% to 4% in otherwise weak market

Shares of fast moving consumer goods (FMCG) companies were trading higher with Nifty FMCG and the S&P BSE FMCG index gaining 2% in otherwise weak market. On comparison, the benchmark indices were down 0.4% at 02:24 pm.

Hindustan Unilever (HUL), Britannia Industries and Colgate-Palmolive (India) hit their respective new highs on the BSE.

ITC has moved higher by 2.5% to Rs 289 after the company reported net profit of Rs 29.33 billion in line with estimates for the quarter ended March 2018 (Q4FY18). 

HUL rallied 4% to Rs 1,581, extending its previous day’s 1% gain, after the FMCG