India's consumer goods index set for first annual decline since 2019

Tata Consumer Products

31/12/2024 07:29

** Consumer goods index  .NIFTYFMCG  drops 0.83% for the
year - first yearly decline in five years
    ** Sub index up ~16% till September, but erased all gains on
weak Q2 results from heavyweights
    ** Nestle India  NEST.NS  biggest loser on index, down ~19%
YTD after missing analysts' Q1 and Q2 profit estimates
    ** Weak consumer demand and higher prices pushed consumers
towards cheaper rivals, hurting co
    ** Nifty heavyweight Tata Consumer  TACN.NS  down ~16% YTD
    ** On Oct. 21, TACN ended ~7% lower, biggest intraday drop
this year, after weak Q2 results
    ** ITC  ITC.NS  an outlier, up 3.66% YTD

 (Reporting by Ananta Agarwal in Bengaluru)
 ((Ananta.Agarwal@thomsonreuters.com))