Firm sees momentum in key segments continuing this year
Sectorally, IT stocks took the biggest knock as the Nifty IT index declined 3.5 per cent to 13,293.70 levels. Nifty Bank lost 566 points or nearly 3 per cent to 19,068.50 levels
Trading at 77x, its trailing 12-month net profit against industry average of about 43x
High revenue decline resulting in weak operating leverage to result in 220 bps fall in operating profit margin
Marico said it would see a "modest decline" in its Ebitda for the March quarter due to an unfavourable product mix
The stock erased its entire gain recorded during January.
The company continued to focus on volumes
The brokerage expects a likely expansion in the company's operating margin of its international business.
Federation of All India Distributors Association steps in to lend support
Lower realisation led to 1.3% fall in sales despite 7% rise in domestic volumes, while one-off gains last year led to fall in profit; earnings outlook improves
Each of the two key segments, household insecticides and soap (around 75 per cent of domestic sales), reported a 7 per cent volume growth in Q2 versus a decline or muted volumes in the April-June qua
Weekly Technical Recommendations by Religare Broking Ltd
Investors should wait for good earnings trend despite attractive valuations
Sources said the brand from the Godrej stable currently has a miniscule market share and the space is dominated by Loreal which has a near 70% market share in the salon space
The stock slipped 8 per cent to Rs 699 on BSE after it reported 1.5 per cent year-on-year decline in consolidated net profit at Rs 423.52 crore for December 2018 quarter.
Homegrown FMCG firm Godrej Consumer Products (GCPL) is bullish on the prospects of e-commerce and is expecting 5 per cent of its revenues to come from this channel in the next three to four years, a top company executive said. The company is also planning to create a separate business unit to drive e-commerce sales. "We should be at least looking at 5-odd per cent of our business coming from e-commerce in the next three to four years," GCPL chief executive officer - India and SAARC - Sunil Kataria, told PTI. "We have realised that it cannot happen with e-commerce being part of customer channel. It has to be a separate business in itself," he added. E-commerce is estimated to account for just 1 per cent of the FMCG space at present in the country, but Kataria expects it to pick up in the coming years. The company from September 1 is shifting e-commerce as a separate P&L unit, with it's own innovation team, new product development pipeline and own marketing and digital
This market is growing at a healthy rate of 8-9%
Godrej Consumer Products stock is trading near its 52-week high
Double-digit growth, cost efficiencies should translate into higher profits
The stock was up 4% to Rs 963, bouncing back 10% from its intra-day low of Rs 876 on BSE