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Nifty Consumption index nears record high; Nestle India shares cross Rs 10k

At 11:51 am; Nifty Consumption index was up 0.77% at 5,106.85, less than 1% away from its all-time high of 5,154 recorded on January 9, 2018 in intra-day trade.

SI Reporter  |  Mumbai 

Consumption stocks continue to bleed on demonetisation

Shares of consumption related companies are in focus with index trading close to its all-time high after more than 1% gain in stocks like United Breweries, ITC, and Titan Company.

At 11:51 am; 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, (UBL) and Avenue Supermarts, which owns and operates D-Mart stores have hit their respective all-time highs on the in intra-day trade on Monday.

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), 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,” said in a press release.

too hit a new high of Rs 10,060 today, crossing Rs 10,000 mark first time on the 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, 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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COMPANY LATEST PREV CLOSE GAIN(%)
UNITED BREWERIES 1279.20 1227.55 4.21
CROMPTON GR. CON 233.20 226.15 3.12
BHARTI AIRTEL 389.25 377.55 3.10
HAVELLS INDIA 563.60 552.90 1.94
MARICO 350.20 343.65 1.91
TATA POWER CO. 79.00 77.95 1.35
ZEE ENTERTAINMEN 564.75 557.35 1.33
UNITED SPIRITS 3398.60 3355.00 1.30
ITC 271.35 267.90 1.29
TITAN COMPANY 907.30 896.00 1.26
INDIAN HOTELS 142.95 141.25 1.20
ASIAN PAINTS 1293.00 1278.85 1.11
TVS MOTOR CO. 588.70 582.80 1.01
BAJAJ AUTO 2898.45 2874.05 0.85
M & M 918.00 911.65 0.70
DABUR INDIA 384.95 382.35 0.68
IDEA CELLULAR 64.45 64.15 0.47
ALKEM LAB 1962.00 1953.35 0.44
MARUTI SUZUKI 8960.00 8932.45 0.31
COLGATE-PALM. 1233.35 1229.95 0.28

First Published: Mon, June 11 2018. 12:22 IST
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