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.
Bina Modi speaks to Business Standard about expansion plans of GPI, exit from the retail business, the inheritance battle with her son, and the legacy of KK Modi
The developments come at a time when the markets are already grappling with geopolitical developments in West Asia and the uncertainty surrounding the outcome of the US presidential polls
Nestle India reported a consolidated net profit of Rs 899.49 crore for the September quarter, compared to Rs 908.08 crore a year ago
The drop in the share price came after the company's expenses jumped 13.1 per cent year-on-year (Y-o-Y) to Rs 3,649.9 crore in Q2FY25, from Rs 3,227.88 crore in Q2FY24
FMCG companies: RBI Governor Shaktikanta Das pointed out that core inflation, which excludes food and fuel prices, was on an uptrend in July and August
Marico said consolidated revenue growth remained in high single digits, as higher realisations in the domestic business was offset by incremental currency headwinds in some overseas markets.
The Nifty Pharma Index is currently trading in a defined range between 23,700 and 22,700. This suggests that the market is experiencing indecision, with neither buyers nor sellers dominating.
Mrs. Bectors Food on Tuesday, September 10, informed that the company has allotted 2.58 million equity shares to eligible qualified institutional buyers (QIBs) at a price of Rs 1,550 per share.
The company's board appointed a committee to evaluate the future of its ice cream business and also accorded its approval to explore potential structures and alternatives for the same.
According to Nielsen, the consumer sector grew 4% Y-o-Y in Q1FY25, down from 6.6% in Q4FY24. Pricing saw a marginal increase of approximately 0.2 per cent, while volumes rose 3.8% Y-o-Y.
BSE analytics reflect that the company's shares have sprinted 164.57 per cent year-to-date, while in the last six months they have yielded a return of 107.94 per cent
With a strong presence in the hinterland, Patanjali Foods is positive about rural demand moving northwards in the coming quarter.