At 11:51 am; Nifty Consumption index, the largest gainer among thematic indices, was up 0.77% at 5,106.85, as compared to 0.52% rise in the Nifty 50 index. The consumption index hit an intra-day high of 5,110, and is less than 1% away from its all-time high of 5,154 recorded on January 9, 2018.
Nestle India, Marico, VIP Industries, United Breweries (UBL) and Avenue Supermarts, which owns and operates D-Mart stores have hit their respective all-time highs on the NSE in intra-day trade on Monday.
UBL has rallied 5% to Rs 1,285, surpassing its previous high of Rs 1,269 recorded on May 25, 2018 in intra-day trade. In past one month, the stock outperformed the market by surging 15% as compared to a marginal 0.02% rise in the benchmark index.
In January-March quarter (Q4FY18), UBL reported a standalone net profit of Rs 909 million against Rs 67 million in the corresponding quarter of previous fiscal. The company recorded a volume growth of 24% compared with industry growth of 22%.
“This growth was partly the result of a low comparative, as Q4 2016-17 already included the effects of the highway ban. Net revenue grew 32%, primarily due to volume growth and also a favourable state mix,” UBL said in a press release.
Nestle India too hit a new high of Rs 10,060 today, crossing Rs 10,000 mark first time on the NSE. In past one month, the stock has risen 6% after the company reported a better than expected 38% year on year (YoY) growth in net profit at Rs 4.24 billion in March 2018 quarter (Q1CY18). Thus far in the calendar year 2018, Nestle India soared 28% against 4% rise in the benchmark index.
Timely monsoon will bring demand stability and spur growth this year, while the fast-growing e-commerce channel will provide good opportunities in the future, said Nestle India, chairman and managing director.
The India Meteorological Department (IMD) has predicted an average monsoon this year, which has already hit the Indian coast."The monsoon at least this year, seems to be on time. We are an agro-based economy by large, and to that extent, it augurs well...We look forward to stability of demand and hopefully better growth," Suresh Narayanan told PTI
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|CROMPTON GR. CON||233.20||226.15||3.12|
|TATA POWER CO.||79.00||77.95||1.35|
|TVS MOTOR CO.||588.70||582.80||1.01|
|M & M||918.00||911.65||0.70|