India's FMCG stocks resist broad-based slide in markets

Britannia Life Sciences

10/03/2023 05:32

** Fast moving consumer goods index  .NIFTYFMCG  rises 0.25%
in a weak market
    ** FMCG the only major sectoral gainer on Friday so far,
with eight of 15 constituents logging gains
    ** Britannia  BRIT.NS , ITC  ITC.NS  among top gainers in
Nifty 50  .NSEI , which is down over 1%
    ** ITC better placed than peers due to accelerated earnings
growth, strong earnings visibility, healthy cigarette volume
growth, buoyant hotels business, says Motilal Oswal which
maintains "buy" 
    ** Nomura sees superior growth trajectory for firms like
Britannia, Hindustan Unilever  HLL.NS , ITC, Godrej Consumer
 GOCP.NS  due to sustained volume growth, investments in
distribution and strong business models
    ** Varun Beverages  VARB.NS  is on a sustainable growth
path, due to favourable outlook for Indian beverages industry,
says Motilal Oswal 
    ** Says it expects early onset of summer and rising
penetration in South and West regions to aid VARB
    ** BRIT, ITC, VARB, GOCP, and HLL all gain between 0.1% and
1% 

    

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463))