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Encouraged by volume growth, margin improvement and recovery in rural sales, India's top fast-moving consumer goods (FMCG) companies are now back to their normal growth cycle as they step up investments as well as spending on advertising and marketing. <keyword id="84065" type="General" weightage="20" keywordseo="fmcg-companies" source="Orion">FMCG companies</keyword> are chasing volume growth again after a gap of a few quarters, offering higher grammage and price cuts thanks to inflationary pressures softening on key raw materials for everything from soaps to food items. Hindustan Unilever (HUL), Dabur, Marico, Godrej Consumer Products, ITC, Tata Consumer Products and Nestle reported volume recovery in the March quarter and said they expect a gradual pickup in consumption in FY24. "The prospects of a sustained recovery have strengthened. After five quarters of volume decline, the sector has posted volume growth," Marico MD and CEO Saugata Gupta said in the company's earnings conference call. "Urban consumption has been steady while rural is showing some convincing signs of having bottomed out." Foods continue to drive growth for the sector, while the home and personal care segment also entered positive territory after an extended slowdown. Marico, which owns popular brands like Saffola, Parachute and Livon, reported an 18.7 per cent increase in its consolidated net profit to Rs 305 crore for the fourth quarter ended March 2023 while sales rose 3.65 per cent to Rs 2,240 crore, driven by single-digit volume growth and moderation in commodity prices. HUL said rural areas have shown improvement with higher value growth sequentially. While HUL's volumes continue to fall, the extent of decline has reduced versus last quarter. "The slowdown in the FMCG market is bottoming out. This improvement was led by volumes, which have turned flat in this quarter, versus a mid-single-digit decline in the December quarter," said HUL CFO Ritesh Tiwari in its earnings call. The makers of popular brands such as Rin, Lux, Surf Excel and Pond's said it expects the price-volume growth to rebalance further. "We expect volumes to recover gradually due to high levels of cumulative inflation and the fact that consumption habits typically recover with a lag," he said. For the March quarter, HUL reported an increase of 12.74 per cent in its consolidated net profit to Rs 2,601 crore. Net sales rose 10.83 per cent to Rs 14,926 crore. However, HUL warned the near-term operating environment is likely to remain volatile due to global slowdown risk and uncertainty related to weather phenomena like El Nino and heatwaves. Abneesh Roy, Nuvama Group Executive Director for Institutional Equities, said the outlook for the <keyword id="495979" type="General" weightage="20" keywordseo="fmcg-industry" source="Orion">FMCG industry</keyword> was "positive" with volume growth and improvement in margins for most companies in FY24. "As raw material prices are cooling off, companies shall start paring prices via grammage increase or gradual price reductions. Price growth shall ease while volume growth will improve," he said. Roy also cautioned about the impact of El Nino and the "aggression" from billionaire Mukesh Ambani-led Reliance Industries Ltd, a known disrupter, which aims to be a big player in the USD 110-billion FMCG segment. Meanwhile, Godrej Consumer reported an 11.47 per cent increase in its India revenue to Rs 1,822.92 crore in the March quarter. This was led by volume growth of 11 per cent. Its home care segment, which consists of household insecticides and air fresheners, grew 14 per cent and 17 per cent, respectively. "We expect to build on the current momentum and deliver volume-led growth along with upfront marketing investments and improvement in profitability," said its Managing Director and CEO Sudhir Sitapati. Britannia Executive Vice-Chairman and Managing Director Varun Berry also expressed optimism. "Volume growth will be certainly much better than this year," he said. On commodity prices, Berry said there is deflation in prices of palm oil, laminates and corrugated material for packing but flour and milk prices are soaring. "There are certain brands and certain packs where we have already initiated price reductions or promotions," he said. In the March quarter, Britannia reported a 47.53 per cent jump in consolidated net profit to Rs 557.60 crore. Its revenue from operations rose 10.93 per cent to Rs 3,892.02. Similarly, Dabur reported volume growth of 11 per cent during the March quarter and 14 per cent for FY23. Its quarterly net profit was Rs 292.76 crore and revenue from operations stood at Rs 2,677.8 crore. "Despite near-term concerns around inflationary pressures, we plan to accelerate the growth momentum by continuing to invest in brand building, innovation, and capabilities that will drive growth," said Dabur India CEO Mohit Malhotra. Other companies also recorded growth. ITC's revenue from the FMCG segment rose 19.34 per cent to Rs 4,951.17 crore from Rs 4,148.62 crore while EBITDA jumped 76 per cent. Nestle, the maker of Maggi, Kitkat and Nescafe, reported an increase of 24.69 per cent in its net profit to Rs 736.64 crore in the March quarter. Sales rose 20.43 per cent to Rs 4,808.40 crore. Tata Consumer reported a 21.12 per cent rise in its consolidated net profit to Rs 289.56 crore. Its revenue from operations was up 13.96 per cent at Rs 3,618.73 crore. Tata Consumer said it recorded growth in the India beverages business and food. It had a "strong margin growth and strong topline growth driven both by volume and price," the company said in its earnings call. "We have started seeing volume growth coming back. The impact of inflation and monetary tightening on economic growth and demand seems to be slowing down, but I would keep my fingers crossed and monitor it closely," said Tata Consumer MD and CEO Sunil D'Souza. "In the near term, we are seeing stability." 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FMCG makers expect sustained recovery in volume and margins with price reduction in FY24

<ul><li>FMCG companies are expected to register strong margins in Q1 as they will see the full effect of earlier-taken price hikes playing out. Cooling raw material prices will help. </li><li>Demand for staples have been stable, but the beauty and personal care category has not yet recovered fully. </li><li>The summer has seen a decline or low growth in ice creams and juices due to unseasonal rains. </li></ul>With cooling raw material costs, the FMCG sector is expected to kick in the first quarter of FY24 with ‘good quality’ profits, backed by improvement in margins. Input costs have been cooling over the last few quarters and have either remained stable or seen mild moderation, and companies have not been passing them off very generously in the form of price cuts. “We expect most of the companies to register stronger sequential gross profit margin (GPM) improvement in 1Q24F with input cost inflation cooling down further, high-priced inventory getting consumed and the full effect of earlier-taken price hikes playing out,” said a research report by Nomura. Certain categories such as hair oils, edible oils and soaps had witnessed price cuts in earlier quarters, which will flow through in the first quarter, as per BNP Paribas. Also, new price cuts and promotions were seen in laundry, edible oils and other home care categories during the quarter but no major price cuts were seen in biscuits and salts. Double digit revenue growth expected Price cuts and volume growth for the sector are directly proportional for the sector, and as of now most of growth seen in the sector was pricing-led. But that’s changing, analysts say. Demand from urban areas has been stable, with slight sequential improvement in rural demand as well. Also, the demand for staples have been stable, but the beauty and personal care category has not yet recovered though improving due to the price cuts. All in all, the sector should be able to present a good revenue growth for the quarter – notwithstanding the cooler summer this April-June with unseasonal rains that affected sales of juices and ice creams. “We estimate staples/discretionary (ex-ITC) pack to register 10.2%/8.8% revenue growth. We expect a good quarter from Nestle, Godrej Consumers and ITC and a weak print from Marico,” says a report by Kotak. Antique Stock Broking also expects the FMCG sector (not including ITC) to report early double digit revenue growth with moderation in pricing led growth. ITC is expected to see a fall in revenue as its agri business is expected to see a drop due to high-base effects. Nomura expects Nestle, Tata Consumers and Dabur to report the highest revenue growth YoY, and with ITC and Marico to post lower value growth. FMCG sector revenue growth projections YoY <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nomura </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kotak Institutional Equities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Antique Stock Broking </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HUL </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> 9.1% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">9.1% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">9% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ITC </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-6.1% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4.6%* </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-6% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Marico </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6.5% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4.2% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dabur </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">9.4% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">9% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Godrej Consumer </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10.2% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">NA </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Consumer Products </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">11.3% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">12.5% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">NA </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nestle India </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15.7% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">16.6% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">16% </td></tr></tbody></table>Source: Research reports *Kotak has considered standalone results for ITC Price cuts &amp; rising competition The street will closely watch management commentary on pricing, as analysts believe that the sector is poised for a good show in the first half of FY24 with a raw material cost tailwind. “However, in the second half of FY24 we expect revenue growth to moderate as pricing benefits should fade and growth would have to be volume-led,” said a report by BNP Paribas. There has been no aggressive price war as of now in the sector as of now, but if price cuts are not taken by large players in the segment, it might lead to unorganized players gaining market share. In the last one year, many consumers have ‘downtraded’ to unbranded products or local brands during periods of high inflation. “Prices of most stock keeping units (SKUs) have increased sharply over the last two years. Soap and detergent prices have risen 40-50% over that period. So far the price cuts have been limited and largely confined to the value segment. We believe price cuts might be needed to drive volumes,” said BNP Paribas. Without pricing strategies laid out, most FMCG players might see revenue growth challenges re-emerge this year, especially in the second half. SEE ALSO <a href="https://www.businessinsider.in/business/corporates/news/it-companies-like-tcs-infosys-wipro-hcl-tech-q1-2023-24-earnings-preview/articleshow/101482733.cms">IT sector Q1 earnings preview: All eyes on deal wins, revenue guidance cuts</a> <a href="https://www.businessinsider.in/thelife/news/want-your-veggies-to-taste-like-chocolate-a-vr-glass-may-help-trick-your-mind/articleshow/101487079.cms">Want your veggies to taste like chocolate? A VR glass may help trick your mind</a>

FMCG sector Q1 preview — Caught between price cuts and volume growth

<ul><li>Earlier this week, the government reduced the base import prices of crude palm oil and soy oil.</li><li>Following this, edible oil companies have slashed prices of <keyword id="44868" type="General" weightage="20" keywordseo="cooking-oil" source="Orion">cooking oil</keyword>.</li><li>Additionally, prices of household products like soaps, biscuits, noodles and even shampoo, lipsticks and detergents will also fall as palm oil is one basic ingredient here.</li></ul>One of India’s top FMCG companies, Adani Wilmar reduced the prices of one of the priciest of groceries in recent times – cooking oil. "We are passing on the benefit of the reduced cost to our customers. We are confident the lower prices will also boost demand," said Angshu Mallick, MD and CEO at Adani Wilmar after reducing the price of Fortune refined Sunflower oil's one-litre pack by ₹10 to ₹210. This comes after Hyderabad-based Gemini Edibles &amp; Fats and Mother Dairy both cut prices of cooking oil by ₹15 on one-litre pack – bringing relief to this household essential which has been on the receiving end of inflation for months now. This sentiment could spread across more packaged products, by more FMCG majors. “We expect consumer and retail companies to pause taking further price increases though sector valuations appear rich, with improving out‐of‐home consumption,” said a report by Centrum Broking firm. In the last few months as input costs rose, <keyword id="160413" type="General" weightage="20" keywordseo="fmcg-players" source="Orion">FMCG players</keyword> have been resorting to reducing pack sizes while increasing pack prices. A reduction in base import of crude palm oil, soy oil could be passed on to other products in which it is used like — soaps, biscuits, noodles and even shampoo, lipsticks and detergents. It would mean a sharp reduction in household grocery bills, which have only been on the rise for consumers. Normal monsoon can aid the sector to remain green Lower prices would also mean the tapering demand for packaged products would also improve. Also, there are expectations that rural demand may recover on the back of higher government spending and normal monsoon. Rural demand has been hit after consumers <a href="https://www.businessinsider.in/india/news/life-in-rural-india-hit-by-a-wilted-rabi-crop/articleshow/92333426.cms">traded down to cheaper and smaller packets </a>after inflation hit their doorsteps much harder than it did for urban consumers. If and when consumers shift to smaller pack sizes, most FMCG players tend to lose market share to local and regional players who cater more variety at those price points. However, if pack prices improve, FMCG majors’ volumes will improve – which have been losing revenue for the last eight months. Rural economy is key for FMCG players as a cool off in agricultural commodities inflation will also help reduce their own costs and improve margins. “If commodity prices witness correction from the current level, margins of consumer goods companies might witness a sequential improvement from Q3 FY2023. Commentary of most consumer goods companies suggests recovery in sales volume from Q2/Q3 of FY2023, if the inflation environment stabilizes in the coming months,” said analysts at Sharekhan. An FMCG bull run The optimism around the sector picking up soon is reflected in companies share prices as well. In a weak market sentiment, shares of FMCG players were among the biggest gainers as their fortunes will improve irrespective of worries about global interest rates and a possible recession in the US. “We are very bullish on the FMCG sector from here because we believe costs are coming down from previous highs and they are in a position to pass on incremental costs to consumers, which will help to increase these companies' margins,” said Ravi Singhal, vice chairman at GCL Securities. An FMCG bull run in a market would actually buck the trend of an overall lack of enthusiasm in stocks — proving the theory that no matter what happens, people will keep buying essentials albeit at the right price. <div type="image" title="color fmcg" height="900" width="1200" msid="92336486" hostid="261"></div> <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[]]></cdata></div> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/life-in-rural-india-hit-by-a-wilted-rabi-crop/articleshow/92333426.cms">Vanished savings, trading down to cheaper essentials – life in rural India hit by a wilted Rabi crop</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/environment/news/india-heads-into-the-thunderstorm-zone-right-after-the-heatwave-orange-alerts-issued/articleshow/92333863.cms">India heads into the thunderstorm zone right after the heatwave, orange alerts issued</a>

Cooking oil prices drop - soaps, noodles and detergents might follow suit

Demand trajectory across urban and rural markets in India has shown a "slight improvement" sequentially in the March quarter, although it falls short of a full recover, FMCG major Dabur said. Despite near-term consumption pressure, some "green shoots" are emerging such as moderating inflation, improving consumer confidence and increase in government spending. "While urban markets have returned to positive volume growth, rural markets still remain muted," said Dabur in its latest quarter updates. The company expects a "mid-single digit revenue growth" for the January-March quarter in such a scenario. Its F&amp;B business continues to trend at robust levels and will report strong double-digit growth, while healthcare portfolio is expected to be in a positive growth trajectory, it added. Home &amp; Personal Care (HPC) will report low single-digit revenue growth on account of a slowdown in the personal care categories. "Our brands continued to record gain in market shares in most of the segments," it said. March quarter also marks the consolidation of Badshah Masala, a business which it acquired. It is in the process of being integrated and is tracking as per expectations. Over international sales, Dabur said it expects "high single-digit growth" in constant currency. "However, due to currency headwinds in Egypt and Turkey, the reported growth in INR will be impacted. While there are short-term pressures, we are restructuring our distribution network in key markets and increasing investments behind our brands which will benefit us in the long term," it said. "Overall, Dabur's consolidated revenue is expected to report mid-single digit growth during the quarter," it said. During the quarter inflation continued to cool off for most of our commodities. "India gross margins are expected to show an improvement, but Consolidated gross margin will be impacted mainly due to currency headwinds in International Business. We have also strategically increased our spending behind our brands, leading to short-term pressure on the operating margin, which is expected to be lower by around 200-250 bps as compared to Q4 FY22," it said. While the environment has been challenging, the fundamentals of the business continue to be resilient. "We will continue to invest strongly behind Power Brands, Innovation, Distribution expansion and a robust back end which will enable us to increase our market shares and achieve profitable and sustainable growth," it said. This quarter update will be followed by detailed financial results and earnings presentation once the Board of Directors of the Company approves the consolidated and standalone financial results. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/monetary-policy-impact-rbis-pause-to-support-real-estate-demand-particularly-affordable-segment/articleshow/99290486.cms">Monetary Policy Impact: RBI’s pause to support real estate demand - particularly affordable segment</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/rbi-revises-indias-fy24-growth-outlook-expects-softer-inflation-on-the-back-of-lower-commodity-prices/articleshow/99290005.cms">RBI revises India’s FY24 growth outlook, expects softer inflation on the back of lower commodity prices</a>

Demand trajectory slightly improves sequentially in March qtr, green shoots emerge, says Dabur

<ul><li>At 7:50 am, the SGX Nifty was trading flat, indicating a slow start for Nifty50.</li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock-market indices are likely to start on a tepid note on Wednesday, led by mixed cues from the global markets. At 7:50 am, the SGX Nifty was trading flat, indicating a slow start for Nifty50. However, on Wednesday, after an initial morning decline, <a href="https://www.businessinsider.in/stock-market/news/us-stocks-erase-losses-finish-higher-amid-renewed-stimulus-optimism/articleshow/79538793.cms">US stocks finished mostly higher as investors </a>latched onto hope that another round of fiscal stimulus to hasten the economic recovery is just around the corner. The Dow Jones Industrial Average closed 60 points higher, and the S&amp;P 500 was up 0.18%. These are the stocks to watch out for during the trading session today: RIL and Future Retail The Indian market regulator <a href="https://www.livemint.com/news/india/sebi-asks-bse-to-clarify-on-noc-to-ril-future-deal-11606901705869.html">SEBI has asked the BSE</a> to clarify on the no-objection-certificate (NOC) given by the exchange to the Future Group for amalgamation of some of its business as part of the ₹24,713 crore deal by Reliance Industries’ retail arm. The shares of RIL ended 0.21% higher on Wednesday, whereas Future Retail ended in red. Bharti Infratel and Bharti Airtel Bharti Airtel said its subsidiary Nettle Infrastructure Investments had acquired an additional 4.94% stake in Bharti Infratel for ₹2,882.32 crore. With this transaction, Bharti Airtel’s total stake in its mobile tower arm Infratel has increased to 41.66%. The shares of Bharti Infratel ended 4.40% higher on Wednesday, whereas Bharti Airtel ended in 1% higher. Wipro Wipro wins a multi-year contract from Verifone, a global leader in payments and commerce solutions, to drive agility across its cloud services offerings. The company said it would develop new features, capabilities and interfaces for Verifone’s Cloud Services offerings, enabling seamless and flexible transaction processing for the company. The shares of Wipro ended 1.8% higher on Wednesday. Dabur The company has responded to a study by the Delhi-based NGO Centre for Science and Environment (CSE) and said that its honey had passed the Nuclear Magnetic Resonance (NMR) test in Germany and it is complying with 22 parameters mandated by FSSAI for testing honey. The CSE study shows that 10 of the 13 brands of honey sold in India, including Dabur had failed the NMR test. The shares of Dabur ended 0.61% lower on Wednesday. DHFL The Committee of Creditors for cash-strapped DHFL has voted in favour of inviting revised bids. And, December 14 has been set as the new deadline to submit bids. The shares of DHFL ended 5% higher on Wednesday. Raymond Raymond’s subsidiary Silver Spark Apparel has entered into a share transfer agreement to divest its entire stake in its subsidiary Dress Master Apparel for ₹19.07 crore. The shares of Raymond ended 0.36% lower on Wednesday. Tata Chemicals Tata Sons bought shares worth ₹76 crore in Tata Chemicals. The shares of Tata Chemicals ended 6% higher on Wednesday. SpiceJet SpiceJet intends to expand its cargo business considerably over the next two years, after great success during the pandemic, the company’s Chairman and Managing Director, Ajay Singh said in their annual report. The shares of SpiceJet ended 4% higher on Wednesday. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/burger-king-grey-market-premium-and-heres-what-brokerages-say-about-the-ipo-opening-tomorrow/articleshow/79508730.cms" data-type="tilCustomLink">Burger King India IPO opens today — brokerages recommend ‘subscribe’ on attractive valuations</a> <a href="https://www.businessinsider.in/india/news/delhi-chalo-no-breakthrough-in-talks-government-seeks-farmers-objections-suggestions-on-farm-laws/articleshow/79521894.cms" data-type="tilCustomLink">Delhi Chalo: No breakthrough in talks, government seeks farmers' objections, suggestions on farm laws</a> <a href="https://www.businessinsider.in/science/news/china-just-landed-its-change-5-spacecraft-on-the-moon-the-mission-could-bring-moon-rocks-to-earth-for-the-first-time-in-40-plus-years-/articleshow/79520221.cms" data-type="tilCustomLink">China just landed its Chang'e-5 spacecraft on the moon. The mission could bring moon rocks to Earth for the first time in 40-plus years.</a>

Top stocks to watch — Future Retail, RIL, Bharti Infratel, Airtel, Wipro, Dabur, DHFL, SpiceJet, and others

<ul><li>Domestic benchmark indices opened lower on Tuesday following weak cues from global markets due fears of recession gaining strength.</li><li>The 30-stock <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> opened 197 points lower at 61,609, while the 50-stock <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> opened 80 points lower at 18,340.</li><li>Dabur, Just Dial, and Hindustan Zinc are amongst the <keyword id="73648" type="General" weightage="20" keywordseo="stocks-to-watch" source="Orion">stocks to watch</keyword> out for on Tuesday. </li></ul>Domestic benchmark indices opened lower on Tuesday following weak cues from global markets due fears of recession gaining strength. <keyword id="90570" type="General" weightage="20" keywordseo="sgx-nifty" source="Orion">SGX Nifty</keyword>, an early indicator of the markets may perform, was down 0.6% early in the morning today. The 30-stock Sensex opened 197 points lower at 61,609, while the 50-stock Nifty50 opened 80 points lower at 18,340. Both the indices <a href="https://www.businessinsider.in/stock-market/news/sensex-nifty50-snap-two-day-losing-streak-driven-by-auto-fmcg-and-metal-stocks/articleshow/96346862.cms">snapped their two-day losing streak</a> on Monday after a choppy trading session, ending 0.8% higher, driven by auto, FMCG and metal stocks. “Indian markets could open flat to mildly lower, in line with mostly lower Asian markets today and lower US markets on Monday,” said Deepak Jasani, head of retail research at HDFC Securities. Asian markets in the red over Covid concerns Asian share markets were trading mostly in negative territory on Tuesday, as investors anticipated a somewhat rocky road for China's unwinding of COVID restrictions and the prospect that U.S interest rates will rise higher than expected in 2023. The People's Bank of China kept its key lending rates steady. Tech stocks pull S&amp;P 500 to its lowest level in a month The US markets continued to decline amid fears of a recession and rate hikes not abating. The Santa rally fizzled out even before it could gain momentum, with the S&amp;P 500 falling 0.9%, while the Dow Jones Industrial Average fell 0.49%. The tech-heavy Nasdaq declined 1.49% amid fears of an IT slowdown. The fall in US’ tech stocks also dragged the benchmark S&amp;P 500 to its lowest levels in a month. “Investors seemed worried time is running out for a year-end rally. The S&amp;P 500 closed at its lowest level in more than a month, dragged by declines in big-tech firms including Apple Inc., Microsoft Corp. and Amazon.com Inc,” said Jasani. Brent crude oil prices edged up 0.7% today to hover around $80.36 per barrel. Besides, Elin Electronics IPO will open for subscription today (December 20) and will close on December 22. Meanwhile, it is the second day to subscribe to the KFin Technologies IPO. Stocks to watch out for on Tuesday Dabur India: The Burman family, promoters of Dabur India, are looking to sell ₹800 crore worth of shares via block deal, according to reports. The transaction is expected to take place at a 4% discount to the stock price. Just Dial: The company’s promoter Reliance Retail Ventures will sell a 2% stake in the company through an open market sale to achieve minimum public shareholding. Hindustan Zinc: The Vedanta Group firm Hindustan Zinc is planning to invest over $1 billion (₹8,270 crore) to convert its diesel fired mining vehicles into battery operated ones. Bharti Airtel: Added 0.8 million subscribers in October, with a total subscriber base of 365 million. Reliance Industries: Its telecom arm Reliance Jio added 1.4 million subscribers, taking its total subscriber base to 421 million. Vodafone Idea: Lost 3.5 million subscribers, with its subscriber base falling to 245 million. Stocks in F&amp;O ban on Tuesday IRCTC, Punjab National Bank, Balrampur Chini Mills, Indiabulls Housing Finance, Bharat Heavy Electricals, Gujarat Narmada Valley Fertilizers, and Delta Corporation are in the list of stocks under F&amp;O ban on Tuesday. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-gainers-and-losers-stocks-of-2022-in-india/articleshow/96332417.cms">Best and worst performing stocks of 2022</a> <a href="https://www.businessinsider.in/stock-market/news/ipos-pick-up-steam-in-last-three-months-of-2022-strong-pipeline-likely-to-propel-listings-in-2023/articleshow/96325621.cms">IPOs pick up steam in last three months of 2022 – Strong pipeline likely to propel listings in 2023</a> <a href="https://www.businessinsider.in/business/news/average-debt-cost-for-top-eight-listed-realty-players-lowest-since-pandemic-says-anarock/articleshow/96345107.cms">Average debt cost for top eight listed realty players lowest since pandemic, says Anarock</a>

Sensex, Nifty50 open lower amid mixed market cues – Dabur, Just Dial, Hindustan Zinc among stocks to watch out for

<ul><li>The SGX Nifty was trading 0.62% higher at 7:45 am, indicating a higher start for Nifty50.</li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider. </a></li></ul>Amidst positive cues from the global markets, the Indian equities are likely to open higher on Tuesday. The SGX Nifty was trading 0.62% higher at 7:45 am, indicating a green start for Nifty50. The US stock markets also soared on Monday, as encouraging economic data and election bets lifted indexes. The Dow Jones Industrial Average closed 423 points higher, and the S&amp;P 500 gained 1.23%. These are the stocks to watch out for during the trading session on November 3: Tata Motors Auto giant Tata Motors reported a 27% jump in its total domestic sales to 49,669 units in October. The passenger vehicle segment grew 80%, whereas the commercial vehicle segment witnessed a marginal growth at 2%. The shares of Tata Motors ended flat on Tuesday. Cadila Healthcare The drug major Cadila Healthcare reported an over four-fold jump in its consolidated net profit to ₹473.4 crore for the quarter ended September 30. The company had posted a net profit of ₹107.2 crore for the corresponding period of the previous financial year. The company has significantly reduced its net debt-by ₹2,709 crore in the first six months of FY21, which is a 40% reduction from net debt reported in March 2020. The shares of Cadila Healthcare ended 3% lower on Tuesday. NTPC The board of state-owned power giant NTPC has approved the buyback of 19.78 crore equity shares at a price of ₹115 per unit for an aggregate amount of ₹2,275.74 crore. The company has fixed November 13 as the record date for the purpose of ascertaining the eligibility of shareholders for buyback of equity shares. The shares of NTPC ended 2.23% higher on Tuesday. Sterlite Tech The fiber optic cable manufacturing company, Sterlite Tech said it would acquire Italy’s Optotec S.p.A., a company specializing in optical interconnect products, for €29 million. The company said that the acquisition would create a solid springboard to offer a complete bouquet of solutions to customers across Europe, India and the Middle East. The shares of Sterlite Tech ended 2% lower on Tuesday. Adani Enterprises The Airports Authority of India (AAI) handed over the Lucknow airport to the Adani group on lease for a period of 50 years. The AAI had signed concession agreements with the Adani group on February 14 for operations, management and development of the Mangaluru, Lucknow and Ahmedabad airports. The shares of Adani Enterprises ended 0.16% higher on Tuesday. Shipping Corporation of India The board of the Shipping Corporation of India is slated to meet on November 6 to discuss the demerger of non-core assets. The shares of Shipping Corporation of India ended 2% lower on Tuesday. Nagarjuna Construction Company Nagarjuna Construction Company (NCC) bagged orders worth ₹833 crore from the mining division of Coal India’s arm. The shares of Nagarjuna Construction Company ended 1% lower on Tuesday. Muthoot Finance, PVR, Sun Pharmaceutical Industries, Dabur and Adani Ports Muthoot Finance, PVR, Sun Pharmaceutical Industries, Dabur and Adani Ports are the top companies slated to report their quarterly earnings today. SEE ALSO: <a href="https://www.businessinsider.in/international/news/multiple-casualties-reported-in-vienna-terrorist-attack-officials-say/articleshow/79009954.cms">At least 2 people dead and more than a dozen injured in Vienna terror attack</a> <a href="https://www.businessinsider.in/politics/world/news/how-the-electoral-college-works-and-how-the-president-will-be-selected-this-year/articleshow/77745886.cms">How the electoral college works and how the president will be selected this year</a>

Top stocks to watch — Tata Motors, NTPC, Cadila Healthcare, Adani Enterprises, Muthoot Finance, Dabur, and others

<ul><li>Top FMCG companies have cut prices of soap, detergents and hair oils.</li><li>Competition has gone up in the sector after many smaller, regional players making a comeback.</li><li>FMCG players said last quarter that they had to cede some of their market share to smaller players.</li><li>At the time, rise in agri commodity prices is making some of them hike prices of items like coffee and other beverages. </li></ul>After facing the onslaught of smaller and regional players in the last quarter, FMCG majors are on a path to cut prices to boost volumes as well sales. This pricing action is being seen mostly in categories that contribute large volumes and with a high share of unorganized players — like soaps, detergents, hair oils and edible oils. <keyword id="6365619" type="General" weightage="20" keywordseo="hindustan-unilever" source="Orion">Hindustan Unilever</keyword> has taken price cuts to the tune of 9-10% in soaps, <keyword id="6361491" type="General" weightage="20" keywordseo="procter-gamble" source="Orion">Procter &amp; Gamble</keyword> too cut <keyword id="443581" type="General" weightage="20" keywordseo="detergent-prices" source="Orion">detergent prices</keyword> by 11%. <keyword id="4283144" type="General" weightage="20" keywordseo="patajali" source="Orion">Patajali</keyword> slashed its soap as well as hair oil prices, as per a recent report by Kotak Institutional Equities. Top FMCG players said at the end of the April-June quarter that they had to cede some of their market share to smaller players. As per Nomura, their impact on market share on organized players is under control as of now, but needs to be watched closely. A lot of these players have shut up during the pandemic, but have ‘mushroomed’ back. “As the raw material prices have come down and have remained stable, there is increased competition from smaller players. Hence, most FMCG companies have undertaken price cuts to pass on the raw material benefits, and at the same time, they have increased ad spending to protect their market share,” Preeyam Tolia, senior research analyst of FMCG at Axis Securities told Business Insider India. Moreso, the volume growth trend has slowed down for most FMCG players due to slower-than-expected growth in the rural areas. Besides, the trend of downtrading had taken over during the era of high inflation last year, when players had to increase their prices. In Q1, even as volume growth remained tepid, the profitability of FMCG companies was high due to softening of prices of certain raw materials. Palm oil prices were down 2% month-on-month and by 26% year-on-year. Copra/coconut oil prices (updated until July 2023) remained in deflation, down 8% month-on-month and by 11% year on year. “Currently crude and palm oil used to make soaps and inputs such as soda ash used in detergents are showing a downward price trend, that is the reason many soap brands have reduced the prices to increase their volume and are passing on the margin benefits to consumers,” said Sraboni Haralalka, executive director at Wodehouse Capital Advisors. Can price cuts help? Most experts believe that the benefits of these price cuts on volume growth can be seen with a lag, in the second half of the current fiscal year. A few however believe volume growth itself might not be enough for companies that have been banking on pricing-led growth in the last few quarters. “Most other categories did not resort to any pricing action (apart from soaps, detergents, hair-oil, edible-oils), leading to anniversarying of pricing and lesser contribution to overall value growth. We expect no or negligible contribution from pricing in coming quarters; optically lowering overall value growth for the sector,” said Nomura. Added to that, the ability to take a next round of price cuts might also be lowered, experts believe as the prices of crude are inching up again. While crude oil prices were down by 14%, they have jumped 8% on a month-on-month basis – showing that the trend might see a back up. “We must look at the impact of the recent increase in crude oil prices. Any further increase in crude oil price would delay the price cuts and, hence, volume recovery,” says Tolia. Shampoo, coffee &amp; toothpastes get pricier While tea and biscuits prices have remained steady, the prices of coffee have inched up due to hardening agri commodity prices — especially in the case of cereals and milk in the last few months. “Prices remained stable in dairy except for Nestle, which increased the prices of its milk powder and curd by 2% and 5%, respectively. Nestle took another round of around 3-5% of price increases in its baby food portfolio, taking cumulative increases to 6-11% in the past six months,” said Kotak Institutional Equities. Health food drinks witnessed price rises of around 2-8% by Abbott, Danone and Mondelez. “Agri-commodities products have surged up. Food companies such as Nestle and Britannia may either increase product prices or take a hit on their margins and focus on volume growth,” said Haralalka. Products like confectionery, toothpastes and shampoos also saw price hikes from players like Vicco, HUL, Dabur and P&amp;G. Also price rises are seen in face and body washes, deodorants, air fresheners, men’s grooming and feminine hygiene – especially in areas where end consumer purchasing power is high. The margins in personal care products are higher and consumers don’t downgrade as easily as they do in the laundry or hair oil segments. The year of FY24 is expected to be a year of volume growth as FMCG companies are fighting to bring back their ‘small pack’ consumers. At the same time, inflation on the horizon is presenting a very cloudy picture for companies – making them re-think their pricing strategy in a way that ensures volume and margins hold steady.

Soap Opera: FMCG players kick off price war to bring back what’s lost

<ul><li>FMCG company <keyword id="236770" type="General" weightage="20" keywordseo="adani-wilmar" source="Orion">Adani Wilmar</keyword>, known for edible oil 'Fortune', made it to the ₹1 trillion club on sharp rally in share price.</li><li>Today, shares of the company hit an all time high of ₹802.80 as the stock surged 5%.</li><li>Moreover, the stock has tripled investors' money in just three months from February 8, 2022 when it got listed on exchanges.</li></ul>Fast moving consumer goods (FMCG) firm Adani Wilmar has finally made it to ₹1 trillion market capitalisation club as shares of the company rallied sharply. The firm owns the popular brand ‘Fortune’. The company claims 1 out of every 3 households consumes a “Fortune” product. In just three months of listing, shares of the firm have rewarded investors with three-fold returns. Today, shares of the company hit an all-time high of ₹802.80 as the stock surged 5%. The stock has been on an uptrend since yesterday, April 26, after Indonesia banned exports of palm oil, which would eventually increase prices of edible oil and benefit the firm. Reportedly, India sources 45% of its annual palm oil needs from Indonesia. <div type="image" title="adani wilmar w" height="900" width="1200" msid="91092178" hostid="261"></div>Besides, the company has benefited from the recent spike in prices of cooking oil because of the <a href="https://www.businessinsider.in/stock-market/news/adani-wilmar-shares-surge-as-russia-declares-war-on-ukraine/articleshow/89789984.cms">Russia-Ukraine war.</a> Prices of cooking oil commodities across nations have shot up because of supply disruption fears in Russia and Ukraine. As a matter of fact, Ukraine and Russia together account for 90% of India’s sunflower oil imports. As a matter of fact, Ukraine and Russia together account for 90% of India’s sunflower oil imports. In 2021, India imported 70% of its sunflower oil requirements from Ukraine alone. Russia accounted for 20% and the balance 10% was from Argentina. Earlier the company in an <a href="https://www.businessinsider.in/business/corporates/news/adani-wilmar-is-looking-to-acquire-southern-players-in-edible-oil-fmcg-industry/articleshow/89080514.cms">interview to Business Insider </a>said that it has a market share of 18.3% in the edible oil business. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[]]></cdata></div> Now, each of the Gautam Adani-led companies have a market capitalisation of ₹1 trillion. Yesterday, on April 25, <keyword id="45417" type="General" weightage="20" keywordseo="adani-power" source="Orion">Adani Power</keyword> <a href="https://www.businessinsider.in/business/corporates/news/adani-power-crosses-1-lakh-crore-market-cap-to-become-the-sixth-adani-group-company-to-enter-the-special-club/articleshow/91064314.cms">entered </a>₹1 trillion market cap on exchanges. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Group Companies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Market cap </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Green Energy </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4.53 lakh crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Transmission </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2.97 lakh crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Total Gas </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2.76 lakh crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Enterprises </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2.57 lakh crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Ports and Special Economic Zone </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1.86 lakh crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Power </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1.10 lakh crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Wilmar </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1.04 lakh crore </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Adani Wilmar is ranked 54th in the list of top 100 listed companies surpassing Dabur India, Shree Cements, Godrej Consumer, Britannia, Tata Consumer Products and many others. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/veranda-learning-forays-into-preschool-segment-goes-deeper-into-test-prep/articleshow/91091639.cms">Veranda Learning forays into preschool segment, goes deeper into test prep</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/bought-twitter-shares-in-india-heres-what-will-happen-after-elon-musks-acquisition-and-twitter-going-private/articleshow/91090688.cms">Bought Twitter shares in India? Here’s what will happen after Elon Musk’s acquisition and Twitter going private</a>

After Adani Power, Adani Wilmar enters ₹1 lakh crore club tripling investors money in three months

<ul><li>The average aggregate demand in China was back to 81% of the pre-pandemic normal as of April 24. </li><li>The demand for consumer staples in China is back to the levels seen before COVID-19 brokeout. </li><li>The relative lag is in consumer discretionary, which, on average, is about 64% of the normal level at the end of April.</li></ul>Global investment bank Goldman Sachs said that most of the reforms announced by the Indian government will have an impact in the medium term while the short term may see a "deeper recession". The country's real GDP growth may fall 5% in the current financial year ending March 2020, the report added. The COVID-19 outbreak happened earlier in China and therefore, it has reduced and the economy is reopening earlier than other parts of the world. Therefore, the recovery trends in China could be a good cue for countries, especially emerging markets like India, to estimate what the post-COVID economic trends might be. China’s equity research team of Goldman Sachs put together a tracker that tracks consumer and industrial demand across China, as the official stats come with a few days lag. The tracker revealed steady growth in China’s economy. “if we really look at the most recently updated, the average aggregate demand, the level average to about 81% as of April 24. So that’s our last, the data points updated and this is a versus the bottom in February, which is only around 50%. Back in January we were at about 90%. So the pace of the recovery was quite rapid from February to March in the first month of activity resumption,” said Trina Chen, Co-head at Goldman Sachs China’s equity research. <div type="Article" hostid="261" msid="75785648" title="Indian firms can now directly list in foreign markets – there are a few more big changes to Companies Act" mstype="2" mssubtype="0"></div> Consumer staples and construction are recovering the fastest. “Consumer staples are food-related demand, essentially demand that has little disruptions and recovered very quickly after the disruption in February in China. Construction was quite depressed back in February, but because of government policy push, so, it’s now back to the pre-virus level, even a little bit higher than the pre-virus level,” Chen said. <div type="Youtube" id="07Hfxy17REU" title="The Daily Check-In: Tracking China’s Economic Recovery" thumbUrl="https://i.ytimg.com/vi/07Hfxy17REU/mqdefault.jpg"></div> This will be good news for the likes of consumer products makers like Hindustan Unilever (HUL) and Marico as well as retailers like D-Mart and Reliance Retail to name a few. For Sanjiv Mehta, CEO of Hindustan Unilever, who had <a href="https://www.businessinsider.in/policy/economy/news/hul-ceo-had-hoped-for-a-v-shaped-economic-recovery-from-covid-19-crisis-but-investors-fear-a-lot-worse/articleshow/75547375.cms" data-type="tilCustomLink" target="_blank">expected a V-shaped recovery in April</a>, this data from Goldman Sachs will be vindication. <table style="width: 156pt;"> </colgroup> <tbody><tr> <td class="xl63" style="height:15.0pt;width:87pt">Stock</td> <td class="xl63" style="border-left-width: initial; border-left-style: none; width: 69pt;">Last 3 months</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Emami</td> <td class="xl64" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-30.77%</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Godrej Consumer</td> <td class="xl64" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-13.19%</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Dabur</td> <td class="xl64" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-12.29%</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">HUL</td> <td class="xl64" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-9.89%</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Marico</td> <td class="xl64" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">4.73%</td> </tr></tbody></table> The relative lag is in consumer discretionary, which, on average, is about 64% of the normal level at the end of April, according to Goldman Sachs. That indicates a relatively slow recovery for car makers like <a href="https://www.businessinsider.in/business/corporates/news/maruti-suzuki-share-price-as-q4-profit-falls-28/articleshow/75715791.cms" data-type="tilCustomLink" target="_blank">Maruti, Tata Motors and M&amp;M</a> who have been struggling with declining sales for over a year now. <table style="width: 138pt;"> </colgroup> <tbody><tr> <td class="xl65" style="height:15.0pt;width:69pt">Stock</td> <td class="xl65" style="border-left-width: initial; border-left-style: none; width: 69pt;">Last 3 months</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">Tata Motors</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-50.12%</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">M&amp;M</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-27.09%</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">Maruti Suzuki</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-26.23%</td> </tr></tbody></table> However, China hasn’t fully recovered to pre-COVID levels, as some of the businesses aren’t still fully functional like airlines and theatres. Air travel and tourism business continue to remain weak. <div type="Article" hostid="261" msid="75785709" title="India will reduce the number of central government companies⁠— some of them will get bigger and some will be sold to private players" mstype="2" mssubtype="0"></div> Even in India, hospitality majors <a href="https://www.businessinsider.in/business/news/oyo-mahindra-holidays-emirates-and-boeing-agree-people-wont-fly-for-a-while/articleshow/75731204.cms" data-type="tilCustomLink" target="_blank">OYO and Mahindra Holidays have changed their post-COVID strategy</a> on the premise that people are not going to be flying abroad anytime soon. Both companies believe that people will prefer to travel to places that are within driving distances, and not those where they will have to take a flight to, even after the lockdown is lifted. <table style="width: 166pt;"> </colgroup> <tbody><tr> <td class="xl65" style="height:15.0pt;width:97pt">Stock</td> <td class="xl65" style="border-left-width: initial; border-left-style: none; width: 69pt;">Last 3 months</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">SpiceJet</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-48.85%</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">Interglobe Aviation</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-31.62%</td> </tr></tbody></table> The box office and casino businesses are down due to people avoiding public gatherings. “So these are kind of the differences within the customer discretionary. But, having said that overall we still see a couple of percent improvement, each week sequentially on is probably the most important sector,” said Chen. <table style="width: 154pt;"> </colgroup> <tbody><tr> <td class="xl65" style="height:15.0pt;width:77pt">Stock</td> <td class="xl65" style="border-left-width: initial; border-left-style: none; width: 77pt;">Last 3 months</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">Inox</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-59.19%</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">PVR</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-58.90%</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">Delta Corp</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-22.20%</td> </tr></tbody></table> Over the past weeks, India has started to relax the lockdown norms, but epidemiologists and public <a href="https://www.businessinsider.in/india/news/india-will-see-multiple-waves-of-covid-19-infections-every-few-months-but-thats-not-a-reason-to-panic/articleshow/75707889.cms">health experts warn that it could result in another outbreak.</a> SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/indigo-spicejet-adani-gmr-gvk-share-price-may-gain-after-civil-aviation-reforms/articleshow/75775888.cms">Indigo and Spicejet get shorter routes, cheaper fuel bills while Adani, GMR, and GVK get more airport projects to bid for</a> <a href="https://www.businessinsider.in/india/news/hindalco-jspl-coal-india-companies-that-will-benefit-from-nirmala-sitharamans-reforms/articleshow/75775443.cms">Hindalco, JSPL, Adani, Coal India, and many more stocks that can benefit from India’s sweeping reforms in coal and mineral sector</a> <a href="https://www.businessinsider.in/science/space/news/lt-and-godrej-join-like-boeing-and-lockheed-martin-ula-after-biggest-space-reform/articleshow/75778037.cms">"Now, L&amp;T and Godrej can join hands like Boeing and Lockheed Martin’s ULA," says Gateway House scholar cheering India’s 'biggest space reform'</a>

You Searched For "Dabur Share price" and got 10 results

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Demand trajectory slightly improves sequentially in March qtr, green shoots emerge, says Dabur

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Sensex, Nifty50 open lower amid mixed market cues – Dabur, Just Dial, Hindustan Zinc among stocks to watch out for

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After Adani Power, Adani Wilmar enters ₹1 lakh crore club tripling investors money in three months

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Goldman Sachs’s China recovery data can spark hope for HUL and D-Mart, and make Maruti, Tata Motors and IndiGo more anxious

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