ITC, Varun Beverages share outlook: FMCG major ITC can slip another 10.5%, while Pepsi distributor VBL could slide another 27% suggests technical charts.
In the past eight trading days, between February 6 and February 18, the stock had corrected 29 per cent.
Shares of FMCG company hit an over nine-month low of Rs 2,247.20, down 2 per cent on the BSE in Wednesday's intra-day trade amid concerns of moderate growth in the near term.
Among the key themes identified in the report is the growing importance of rural markets. Nuvama expects companies with a stronger rural exposure to outpace urban-focused peers in the next 2 quarters
Analysts and investors will keep an eye out for management's commentary on FMCG, cigarette business growth outlook
Nuvama Institutional Equities reckons a low probability of a sharp hike in cigarette tax in the upcoming budget (1 Feb-25) given a small tax hike was taken last year.
Analysts observed that Tata Consumer Products faced margin pressures primarily due to inflationary tea prices but continued to post robust volume growth across its beverage and food segments
Nestle India share price has tumbled nearly 23% in the last 4 months, and now trades 5% away from its key long-term support on the monthly chart; the stock has held since November 2017.
Thus far in the calendar year 2024, the FMCG index was up 1.4 per cent, as against 13.5 per cent rally in BSE Sensex.
The drop in the Gopal Snacks share price came after the company reported a fire incident on December 11 at its Rajkot facility
In the past two occasions, Britannia share price more-than-doubled after the stock tested its super trend line support on the monthly scale. Will history repeat itself? Chart check here
As FMCG shares led by Godrej Consumer fell up to 11% on Monday post the volume growth concern; the Nifty FMCG index slipped below its 20-DMA after a two-week struggle; chart hints at further 4.5% dip.
The stock hit a new low even as the company denied allegations claimed by AICPDF around the company's practices with its distributors and distribution transition.
Mamaearth is growing slower than expectations and Honasa said the company is making identified structural changes to bring it back to its growth trajectory in a few quarters.
Festival flop, sluggish spending, job drought, and market correction sink consumption stocks
Higher inflation and lower purchasing by consumers, it seems, has taken a bite out of consumption-related stocks at the bourses, with most counters losing ground in the last few months
An index or a stock is said to be in a 'correction' phase when it has dipped over 10 per cent and up to 20 per cent from its recent peak level. A 20 per cent or more fall is termed as a 'bear' phase
ITC's consolidated profit for the period came in at Rs 5,054.4 crore, up 1.8 per cent year-on-year (Y-o-Y), from Rs 4,964.5 crore in the same quarter a year ago (Q2FY24).
In the past one month, the FMCG index has tanked nearly 11 per cent, as against 6 per cent decline in the BSE Sensex.
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