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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." SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/zomato-net-loss-narrows-to-188-crore-in-q4-revenue-rises-70-yoy/articleshow/100358894.cms">Zomato net loss narrows to ₹188 crore in Q4, revenue rises 70% YoY</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/mankind-pharma-pnb-among-stocks-to-become-largecap-from-midcap-mutibagger-rail-vikas-nigam-to-turn-midcap-from-smallcap/articleshow/100356527.cms">Mankind Pharma, PNB among stocks to become largecap from midcap; mutibagger Rail Vikas Nigam to turn midcap from smallcap</a>

FMCG makers expect sustained recovery in volume and margins with price reduction in FY24

The Economic Times-Spencer Stuart '<keyword id="2906646" type="UNKNOWN" weightage="20" keywordseo="40-Under-Forty">40 Under Forty</keyword>' awards, which took place last week invited a sum of 200 executives from <keyword id="46431" type="CITY" weightage="20" keywordseo="India-Inc">India Inc</keyword> and the great minds present over the event talked about, 'Is India Inc picking <keyword id="2906647" type="PERSON" weightage="20" keywordseo="Young-CEOs">young CEOs</keyword> fast enough?’ 
 
The event was meant to celebrate India Inc's best managerial talent under the age of 40 where the professionals discussed the Corporate India and its exertion made for the acceptance of young minds at a higher level on the corporate hierarchy. 
 Those who participated in the discussion included the jury members D <keyword id="144341" type="PERSON" weightage="20" keywordseo="Shivakumar">Shivakumar</keyword> (CEO, Pepsico India), <keyword id="225162" type="PERSON" weightage="20" keywordseo="Janmejaya-Sinha">Janmejaya Sinha</keyword> (chairman, Asia Pacific, BCG group), <keyword id="113102" type="PERSON" weightage="20" keywordseo="Vinita-Bali">Vinita Bali</keyword> (former MD, <keyword id="6359432" type="PERSON" weightage="20" keywordseo="Britannia">Britannia</keyword> Industries), <keyword id="1451952" type="PERSON" weightage="20" keywordseo="Anjali-Bansal">Anjali Bansal</keyword> (MD, <keyword id="6555832" type="COMPANY" weightage="20" keywordseo="Spencer-Stuart">Spencer Stuart</keyword> India) and awardees like <keyword id="396598" type="PERSON" weightage="20" keywordseo="Rohit-Bansal">Rohit Bansal</keyword> (co-founder, <keyword id="541988" type="COMPANY" weightage="20" keywordseo="SnapDeal">Snapdeal</keyword>), <keyword id="215413" type="PERSON" weightage="20" keywordseo="Amit-Agarwal">Amit Agarwal</keyword> (country head, <keyword id="6354743" type="COMPANY" weightage="20" keywordseo="Amazon-India">Amazon India</keyword>) and Kunal Shah (founder, Freecharge). For a full list of winners, pick up a copy of Corporate Dossier. 
 
And to read the complete discussion, <a href="http://economictimes.indiatimes.com/news/company/corporate-trends/40-under-forty-awards-is-india-inc-picking-young-ceos-fast-enough/articleshow/47713547.cms">click here</a>.

‘40 Under Forty’: ET celebrates success of young CEOs

<ul><li>Sensex gained 0.59% to 38,273.73 points during the initial trade.</li><li> The Nifty50 rose 0.59% to 11,314.00. </li><li>These are the top stocks that are buzzing the D-street today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Despite the mixed cues from global markets, Indian stock market opened on a positive note on Tuesday with the BSE Sensex gaining 0.59% to 38,273.73 points during the initial trade. The Nifty rose 0.59% to 11,314.00. On the Nifty50 chart, Grasim, ONGC, Eicher, Titan and UPL Limited were among the top gainers - rising as much as 5%, whereas, Indusind Bank, Tech M, JSW Steel were among the top losers. These are the top stocks that are buzzing on D-street today. Tata Motors gained nearly 2% during the morning trade <div type="image" title="Tata Motors August 18" msid="77605551" hostid="261"></div> Tata Motors gained nearly 2% during the morning trade after the company refuted claims of stake sales in its premium car segment JLR. The company said there is adequate liquidity with the company to manage its operations and capital expenditure. Yes Bank gained 3% during the early trade hours <div type="image" title="yes Bank August 18" msid="77605556" hostid="261"></div> Yes Bank shares gained 3% during the early trade hours after the bank in a notice to shareholders for the AGM said that it is looking at trebling up stock options to be granted to senior executives to 22.5 crore, which can be seen as a move to retain talent. SBI Cards up over 2% <div type="image" title="SBI cards August 18" msid="77605595" hostid="261"></div> The share price of SBI Cards was trading up over 2% after the company said it raised ₹500 crore via 5.75% 2023 bonds. Bandhan Bank gains nearly 2% <div type="image" title="Bandhan Bank August 18" msid="77605647" hostid="261"></div> Bandhan Bank shares gained nearly 2% after the Reserve Bank of India (RBI) lifted the restriction regarding the remuneration of Bandhan Bank’s MD and CEO after the promoter shareholding was brought down to 40% in line with the central bank’s norms. In September 2018, the RBI, among other restrictions, said that the remuneration of the MD and CEO of Bandhan Bank stands frozen at the existing level in view of non-compliance with RBI’s licensing norms for new private sector banks. Britannia gains nearly 2% during early hours of trading <div type="image" title="Britannia shares August 18" msid="77605697" hostid="261"></div> FMCG major Britannia gained nearly 2% during early hours of trading after the company said its board has declared an interim dividend of ₹83 per share for the current fiscal and approved issue of bonus debentures. Reliance Industries trades 2% higher <div type="image" title="RIL August 18" msid="77605757" hostid="261"></div> Reliance Industries shares were trading 2% higher after the Supreme Court asked Centre to clarify its stand on why Reliance Jio, which is earning revenue by sharing Reliance Communication’s (RCom) spectrum be not asked to pay the AGR related dues to the government. The Supreme Court will continue hearings in the AGR case today. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-today-ril-sbi-cards-hal-manappuram-airtel-bandhan-bank-britannia/slidelist/77603872.cms" data-type="tilCustomLink"> Top stocks to watch today— RIL, SBI Cards, HAL, Manappuram, Airtel, Bandhan Bank and more</a> <a href="https://www.businessinsider.in/business/startups/news/oyo-byjus-investor-lightspeed-india-closes-its-third-fund-with-275-million/articleshow/77603896.cms" data-type="tilCustomLink">OYO, Byju's investor Lightspeed India closes its third fund with $275 million</a>

Top stock movers on Dalal Street today — Tata Motors, SBI Card, Bandhan Bank, RIL, Britannia

<ul><li>Parle is considering laying off 10,000 employees, thanks to the significant slump in sales, according to an ET report. </li><li>The auto industry has already laid off nearly 350,000 employees in the last four months. </li><li>Rural wages hit the lowest level in the last three years in May 2018. </li></ul>Every economic slowdown hurts the poorer people the most. It’s no different this time. The cash crunch rising out of a slowing economy and rising unemployment is biting budget households in India so bad that they are cutting back on biscuits and that is leading to more job losses at manufacturing plants. India’s largest biscuit maker, Parle is considering laying off 10,000 employees, thanks to the significant slump in sales, <a href="https://economictimes.indiatimes.com/jobs/drop-in-demand-may-force-parle-to-lay-off-up-to-10000-employees/articleshow/70763132.cms?from=mdr">according to</a> an ET report. Parle’s products are mostly consumed by people in the lower rungs of India’s economic pyramid, people in smaller towns and villages. Parle, which makes Parle-G, Monaco and Marie biscuits records an average sale of over ₹10,000 crore annually with over 100,000 employees. “The number of shops stocking these products is the same, but the number of products being sold from these shops is going down due to weakening consumer demand,” Mayank Shah, category heads at <keyword id="235733" type="COMPANY" weightage="20" keywordseo="Parle-Products">Parle Products</keyword> <a href="https://www.nationalheraldindia.com/india/after-britannia-now-parle-hit-by-slowdown-says-gst-responsible-for-it">told </a>National Herald. Higher tax and lower incomes It doesn’t help that biscuits are taxed at 12-18% in the goods and services tax regime. ““These biscuits were taxed at only 12-14 per cent under the previous excise and value added tax regime. Under GST, they are priced at 18%. This forces companies to increase prices, impacting sales,” Shah had added. The slowdown is getting increasingly visible in consumption. It started with trucks followed <a href="https://www.business-standard.com/article/companies/hul-volume-growth-slowest-in-7-quarters-q1-profit-in-line-with-estimates-119072400067_1.html">by car sales</a> and then two wheelers and now it has hit even products <a href="https://www.business-standard.com/article/companies/hul-volume-growth-slowest-in-7-quarters-q1-profit-in-line-with-estimates-119072400067_1.html">of daily consumption</a>. The auto industry has already <a href="https://www.businessinsider.in/indian-auto-manufacturers-have-laid-off-350000-jobs-in-four-months/articleshow/70563890.cms">laid off nearly 350,000 employees </a>in the last four months. Job cuts in companies like Parle will only make the situation worse. People are increasingly worried about the prospects in the coming as signalled by the Reserve Bank of India’s co<a href="https://www.livemint.com/news/india/consumer-confidence-for-the-month-of-june-drops-thomson-reuters-ipsos-survey-1563012458113.html">nsumer confidence index </a>that fell sharply in June 2019 and has stayed near that level since then. The falling biscuit sales only confirm that the country’s rural distress is far from abating. Rural wages hit the lowest level in the last three years in May 2018. “The turmoil is in rural, the turmoil is related to agriculture, so because of that the issues are happening in the value segment, right. So obviously it's affecting every segment but the biggest issue is happening in the value segment because that's what sells in those markets,” Varun Berry, the MD of Brittania said adding that people are shying away from buying <a href="https://www.businessinsider.in/Forget-cars-Indian-consumers-are-wary-of-buying-a-5-biscuit-packet/articleshow/70638256.cms">biscuits packs that are worth a mere ₹5</a>. Richer the better However, the richer Indians may be shelving plans for a new car but they aren’t cutting down on biscuits yet. So, the more expensive packs of biscuits are still selling well and that’s where <keyword id="6359432" type="DOMAIN" weightage="20" keywordseo="britannia">Britannia</keyword> has not had to resort to job cuts yet but Parle has. “With around 65-70% of the portfolio in the premium space, the company plans to introduce variants with protein, gluten free, whole wheat, seed, nuts, etc., and also a niche offering catering to modern trade and e-commerce channels,” said report on consumer sentiment by SBI Caps. See also: <a href="https://www.businessinsider.in/britannia-md-says-consumers-think-twice-before-buying-a-5-biscuit-raises-concerns-about-indian-economy/articleshow/70638256.cms">Forget cars, Indian consumers are wary of buying a ₹5 biscuit packet</a> <a href="https://www.businessinsider.in/kishore-biyanis-big-bazaar-wants-to-take-hindustan-unilever-and-procter-gamble-to-the-cleaners-with-its-own-laundry-brands/articleshow/70173836.cms">Kishore Biyani’s Big Bazaar wants to take Hindustan Unilever and Procter &amp; Gamble to the cleaners, with its own laundry brands</a>

India’s biscuit crisis shows slowdown is hurting the poor more — and job losses are making it worse

<ul><li>With their sales being hit, the Indian business community which has so far been an active supporter of the Indian government, has been raising its voices.</li><li><keyword id="6359432" type="UNKNOWN" weightage="20" keywordseo="britannia">Britannia</keyword>’s MD Varun Berry said there is some serious issue in the economy.</li><li>He’s not alone, leaders from the auto industry have raised their concerns as the segment is witnessing its worst sales slowdown.</li></ul>Questions are being raised by top Indian businessmen about the economic health of the country. The latest one to cry foul is fast moving consumer goods company Britannia. In the <a href="https://www.dnaindia.com/business/report-consumers-thinking-twice-before-buying-a-rs-5-pack-britannia-2781047">latest earnings call</a> of Britannia, the company’s MD Varun Berry raised some serious concerns about the <keyword id="6356076" type="DEFINITION" weightage="20" keywordseo="indian-economy">Indian economy</keyword>. "We've grown only 6% and the market is growing slower than that. And that's a little bit of a worry, because even for a ₹5 product if the consumer is thinking twice before buying it, then there is some serious issue in the economy,” he said. This comes in even though Britannia holds one-third of market share in the Indian biscuit industry. With their sales hit, the Indian business community which has so far been an active supporter of the Indian government, has been raising its voices. India’s GDP has slumped to 6.8% in FY19, whereas <a href="https://www.businesstoday.in/current/economy-politics/india-economy-9-per-cent-gdp-growth-pm-modi-5-trillion-dollar-economy-target-ey/story/370433.html">analysts </a>say that for India to reach its dream of being a $5 trillion economy, the country’s GDP needs to grow steadily at 9%. The industry that has been worst hit has the auto industry which has seen a massive slowdown in sales has seen. Auto industry leaders like Pawan Munjal of HeroCorp, RC Bhargava of Maruti, Anand Mahindra of Mahindra &amp; Mahindra, have all been rallying for reduction of GST to boost growth in sales. Rahul Bajaj, the chairman of Indian conglomerate Bajaj Group. During his company’s Annual General Meeting, he spoke of the government’s role in the weak sales of the auto industry. “There is no demand and no private investment, so where will growth come from? It doesn’t fall from the heavens. The auto industry is going through a very difficult period. Cars, commercial vehicles and two-wheelers are going through a rough patch,” Bajaj added. Earlier, Adi Godrej, chairman of the Godrej group, too <a href="https://www.firstpost.com/business/industry-leaders-reaction-on-budget-2019-adi-godrej-says-budget-is-not-growth-oriented-stock-market-comes-down-considerably-6940161.html">said</a> that the Budget presented by Finance Minister Nirmala Sitharaman is not “growth-oriented”. <a href="https://www.ndtv.com/india-news/adi-godrej-rising-intolerance-hate-crimes-can-seriously-damage-growth-2068996">Godrej also touched upon a sensitive subject </a>saying that rising intolerance in the country is also affecting growth. However, there are also some who believe this is just a phase. HDFC Chairman <a href="https://www.businesstoday.in/current/economy-politics/indias-economic-slowdown-driven-by-lower-consumption-temporary-in-nature-says-hdfcs-deepak-parekh/story/370229.html">Deepak Parekh</a> in the recent annual general meeting of the bank said, “While there has been an across-the-board slowdown in consumption, given the inherent demand and low penetration levels, I believe this is temporary in nature.”

Forget cars, Indian consumers are wary of buying a ₹5 biscuit packet

New Delhi, Mar 26 () FMCG major Britannia Industries on Thursday urged the government to ensure inter-state movement of the raw material for the food processing industry during the three-week lockdown, imposed to prevent pandemic of Covid-19. The government should issue necessary permits immediately to all people who are part of the food industry supply chain, said Britannia in a statement. The supply chain includes suppliers of raw materials and packaging materials, food manufacturing factories, factory workers, transporters of materials and finished goods, depots, wholesalers, distributors and their sales persons. "Necessary permits need to be immediately issued to all of them," said Britannia Industries MD Varun Berry. Supporting the government's effort, he said intervention is required to restore supply chains with immediate effect. According to him, the food industry supply chain is disaggregated and dependent on inter-state movement of goods. Due to the nature of the materials, inventories across the chain are low . "If even one link in the supply chain is broken, the country could run out of stocks of packaged food in the next 7-10 days," he said. He further said that it would also ensure that essential food commodities throughout the country, as reiterated by Prime Minister Narendra Modi to ensure that people don't indulge in panic buying. "Thus, it is imperative that the supply chain for food products be restored in entirety and allowed to function with adequate safety measures and police protection," Berry added. Food is a declared essential commodity as per the Essential Commodities Act 1955 and the food processing industry has been exempted from the work and movements restrictions imposed at this point in time. "We need support from district authorities in allowing our factory workers to travel to the factory premises with appropriate safeguards," he said adding that this will help the company kick start production and ensure uninterrupted supply of essential packaged foods throughout the country. On Tuesday, PM Modi had announced a three-week lockdown of the nation to prevent the spread of Coronavirus (Covid-19) in the country. KRH ANSANS

Lockdown: Britannia urges govt to issue necessary permits to people in food processing supply chain

New Delhi, Feb 1 () The FMCG industry, facing a consumption slowdown, on Saturday welcomed the Union Budget saying that proposed reduction in personal taxes would help drive consumption and the thrust on rural development would revive demand from the segment.
 Companies like Godrej Consumer, Dabur, Britannia Industries, Marico and Jyothy Labs said the special thrust on agriculture, irrigation and rural development should fuel growth in a struggling rural economy, where FMCG growth has slowed down.
 "The Union Budget attempts to activate multiple levers like rural, infrastructure, entrepreneurship and financial sectors to stimulate growth. It remains to be seen which of these will fire and to what extent. We are optimistic about the government's rural agenda and hope that it buoys consumer demand for the FMCG sector," Britannia Industries MD Varun Berry said.
 Terming it as "incremental budget", Dabur India CEO Mohit Malhotra said the government continues to focus on farmers' income and is offering significant sops at the lower end of the spectrum, which will enhance the purchasing power of the consuming class.
 "The big positive takeaways from this year's Budget would be the income-tax relief offered to lower income groups by slashing income tax rates and rejigging income tax slabs to reduce total tax payable by individuals. This would definitely put more disposable income in the pockets of the consuming class, particularly the middle class, which may help push demand for consumer staples," he said.
 However, Malhotra added that "big bold steps" needed to restart economic growth are missing.
 "That said, the fact remains that the government had little room for manoeuvre," he added.
 According to Godrej Consumer Products MD and CEO Vivek Gambhir, expectations from this budget were very high, and it has partially delivered.
 "The positive is that it recognises that spurring consumption is clearly the need of the hour. Some of the measures being introduced should help improve consumer demand incrementally this year in both rural and urban India," he said.
 Gambhir added:" Focused efforts to improve agricultural productivity, together with better target subsidies, are summed up in a 16-point action plan. This should relieve stress in the agrarian economy and boost rural growth prospects for FMCG."
 However, he added that it will take much more to achieve the target of USD 5 trillion economy and double farmer income by 2022.
 "The real litmus test will be the introduction of deeper structural reforms and the timely disbursement and effective on-ground translation of a clear roadmap of change," said Gambhir.
 Expressing similar views, Marico CFO Vivek Karve said, "Reduced personal taxes auger well for consumer goods companies as more disposable income will help drive consumption of branded goods."
 Jyothy Labs Joint Managing Director Ullas Kamath said the Budget seems to be a "sincere attempt" in boosting the much needed demand scenario in both rural and urban economy.
 "The announcements related to revising individual tax structure, proposed 16-point action plan for agriculture and farmers' welfare coupled with the strategy to doubling farmers' income by 2022 is the step in the right direction. We expect overall impact of the budget will boost consumption and revive consumer sentiments," he said.
 According to Parle Products Senior Category Head Mayank Shah, the budget was the "most anticipated one" due to last year's economic depression which burdened many sectors.
 "FMCG has been facing headwinds due to stagnating rural demand. This budget will surely increase the discretionary spending and FMCG will be one of the biggest beneficiaries. The provisions announced by Finance Minister on revision in direct taxation for lower personal income tax liabilities along with emphasis on targeted measures for boosting rural economy will have a twin positive impact on FMCG," he said.
 Emami CFO N H Bhansali said: "Expectation from the Union Budget were not very high, in view of the fact that few important steps have already been taken by the government like the reduction in corporate tax prior to the budget.
 "Looking at the current market scenario, where growth has slowed down, the focus is on stimulating growth rather than fiscal discipline. Accordingly, the Finance Minister has announced many steps for furtherance of agriculture, commerce, industry, services and exports," he said.
 CG Corp Global Executive Director Varun Chaudhary said that mass market brands will benefit post budget as the middle class will have more money in their hands post the income tax reduction.
 "Better agricultural output combined with urban middle class having more money in their pockets will help discretionary food categories," he said. KRH ABM

FMCG industry welcomes Budget, says reduction in I-T slabs to drive consumption

<ul><li>On Tuesday, <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> ended 287 points down at 59,543 while <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> closed 74 points lower at 17,656.</li><li>FMCG giants including Hindustan Unilever, Nestle India, Britannia Industries were some of the top losers on Nifty50.</li><li>While most FMCG firms delivered healthy Q2 earnings reports, companies are also wary of an inflationary environment.</li></ul>While Indian benchmark indices began the trade on a positive note, they ended in the red due to sell off in <keyword id="84065" type="General" weightage="20" keywordseo="fmcg-companies" source="Orion">FMCG companies</keyword> and persisting poor investor sentiment, fearing recession. On Tuesday, Sensex ended 287 points down at 59,543 while Nifty50 closed 74 points lower at 17,656. Today’s session put a break to the 7-day market rally seen which had persisted in spite of weak global trends. Meanwhile, in <keyword id="35189" type="General" weightage="20" keywordseo="asian-markets" source="Orion">Asian markets</keyword> -- Seoul, Shanghai and Hong Kong ended lower, while Tokyo closed higher. FMCG giants including Hindustan Unilever, Nestle India, Britannia Industries were some of the top losers on Nifty50 today. While most FMCG firms delivered healthy Q2 earnings reports, companies were wary of an inflationary environment. Last week, in September quarter earnings, <a href="https://www.businessinsider.in/business/corporates/news/huls-q2-net-profit-grows-20-to-2616-cr-says-its-cautiously-optimistic-in-the-near-term/articleshow/95014467.cms">HUL said that it remains cautious of inflation </a>impacting the demand environment and says it is ‘cautiously optimistic in the near-term’. Moreover, the fall in heavyweight Reliance Industries also dragged down the index. This comes after the Mukesh Ambani-led company, on October 21, <a href="https://www.businessinsider.in/business/corporates/news/reliance-reports-a-profit-decline-in-q2-even-as-revenue-surges-33-yoy/articleshow/95017302.cms">reported a marginal decline in its net profit </a>on a year-on-year basis. In a one-hour <keyword id="459249" type="General" weightage="20" keywordseo="muhurat-trading" source="Orion">Muhurat trading</keyword> session on Monday, which marks the beginning of Hindu Samvat year 2079, markets were trading in green as Sensex jumped more than 500 points. “Indian Indices ended in the positive in the Muhurat trading session in-line with most such sessions in the past. Investors hope that the positive sentiment could get carried into a new Samvat year despite some macro and global headwinds,” said Dhiraj Relli, MD &amp; CEO at HDFC Securities. On Monday, Foreign Institutional Investors (FIIs) offloaded shares worth ₹153.89 crore, as per exchange data. <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;">Top losers </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;">% change </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;">Top gainers </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;">% change </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;">Britannia Industries </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;">-2.81% </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;">Tech Mahindra </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;">3.32% </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;">Kotak Mahindra Bank </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;">-2.71% </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;">Maruti Suzuki 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;">2.79% </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;">Hindustan Unilever </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;">-2.69% </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;">JSW Steel </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;">2.33% </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;">-2.64% </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;">L&amp;T </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;">1.85% </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;">Bajaj Finserv </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;">-2.63% </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;">Eicher Motors </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;">1.67% </td></tr></tbody><tbody></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/air-quality-remains-very-poor-in-these-indian-cities-after-diwali/slidelist/95075634.cms">Air quality remains very poor in these Indian cities after Diwali</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/indias-it-giants-are-worried-about-moonlighting-employees-sharing-their-corporate-secrets/articleshow/95077652.cms">India’s IT giants are worried about moonlighting employees sharing their corporate secrets</a>

Markets snap 7-day rally to end in the red led by losses in FMCG giants, RIL

<ul><li>Net sales for the maker of Kitkat and Maggi rose 21% to ₹4,808 crore in the first quarter of its fiscal year 2023.</li><li>The company follows the January-December financial year.</li><li>Its total expenses in the January-March quarter increased 21% from a year earlier to ₹3,874 crore.</li><li>The company has announced a dividend of ₹27 per share.</li></ul>FMCG major Nestlé India on Tuesday reported a better-than-expected 25% rise in net profit to ₹737 crore for the March quarter compared with ₹591 crore in the same period a year ago. As per Kotak Institutional Equities estimates, the FMCG major was expected to report net profit of ₹692 crore. Net sales for the maker of Kitkat and Maggi rose 21% to ₹4,808 crore in the first quarter of its fiscal year 2023 as against ₹3,963 crore in the year-ago period. The company follows the January-December financial year. "I am pleased to share that we have continued to deliver robust sales growth this quarter, which is broad-based with a healthy balance of pricing, volume and mix. This is the highest growth for the company in a quarter in the last 10 years (excluding the exceptional quarter in 2016 which was off a low base in 2015),” said Suresh Narayanan, chairman and MD at Nestle India. Its total expenses in the January-March quarter increased 21% to ₹3,874 crore from ₹3,212 crore during the same period last year. The company has announced a dividend of ₹27 per share. “All our product groups delivered double-digit growth, a notable feature in these past four quarters,” said the company in an exchange filing. <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;">Particulars </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;">Q1 FY23 </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;">Q4 FY22 </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;">Q1 FY22 </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;">Net sales </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;">₹4,808 crore </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;">₹4,233 crore </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;">₹3,963 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;">Net profit </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;">₹737 crore </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;">₹628 crore </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;">₹591 crore </td></tr></tbody><tbody></tbody></table> Further the company sees early signs of softening of commodities such as edible oils, wheat and packaging materials. However, it expects the cost of fresh milk, fuels, and green coffee to remain firm because of continued increase in demand and volatility. Its exports were up 25% to ₹195.67 crore as against ₹156.64 crore in the corresponding quarter a year ago. Following the results, shares of Nestle India were trading 0.12% higher at ₹20,721 apiece. Meanwhile, shares of other fast-moving consumer goods (FMCG) players were also on the rise. <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;">FMCG players </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;">% change in share price </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;">3.27% </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;">Britannia Industries </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;">1.16% </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;">1.03% </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;">Radico Khaitan </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;">0.94% </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;">UBL </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;">0.67% </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;">United Spirits </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;">0.66% </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;">0.37% </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;">0.35% </td></tr></tbody><tbody></tbody></table>Source: NSE (With inputs from PTI) SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/icici-bank-vs-hdfc-bank-how-indias-top-two-private-lenders-have-performed-in-q4/articleshow/99733618.cms">ICICI Bank vs HDFC Bank: How India’s top two private lenders have performed in Q4</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/flex-operators-lease-as-much-office-space-as-tech-cos-in-jan-march-quarter/articleshow/99727571.cms">Flex operators lease as much office space as tech cos in Jan-March quarter</a>

Nestlé India Q1 net profit jumps 25% to ₹737 crore, beats estimates

234-year-old company EID Parry is only a tad more valuable than year-old  unicorn GlobalBees

<ul><li>The S&amp;P BSE Midcap Index was trading more than 1% higher at 11,340.90 points at 2 pm. </li><li>The shares of PNB Housing Finance Limited were trading nearly 11% higher during the trade on August 18.</li><li>The shares of CG Power and Industrial Solutions hit 5% upper circuit on August 18.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>The overall market has been trading in the green today. Both Sensex and Nifty were up nearly 1% at 2pm, though they had pared their morning gains a tad. One index that has been a performer today is the Midcap Index, which has been holding up The S&amp;P BSE Midcap Index was trading more than 1% higher at 11,340.90 points at 2 pm. Here’s a quick look at the gainers of S&amp;P BSE Midcap Index PNB Housing <div type="image" title="PNB Housing August 18" msid="77609821" hostid="261"></div> The shares of PNB Housing Finance Limited were trading nearly 11% higher during the trade on August 18 ahead of its board meeting tomorrow to consider fundraising. “A meeting of the Board of Directors of PNB Housing Finance Limited (the “Company”) is scheduled to be held on Wednesday, August 19, 2020, to consider fundraising by the company, and the mode thereof, by the issue of Equity Shares and/or other securities through any permissible modes, as may be considered appropriate, subject to such approvals as may be required,” the company said in a filing to stock exchanges. Berger Paints <div type="image" title="Berger Paints August 18 new" msid="77609965" hostid="261"></div> The shares of Berger Paints were trading nearly 4% higher during the trade on August 18 after reports surfaced that the Berger’s CEO is expecting double-digit growth in August. “Just before COVID-19 (pandemic), things had slowed down in the third and fourth quarter. Compared to that we are better off and probably some demand has shifted from April and has not got destroyed”, says <a href="https://economictimes.indiatimes.com/markets/stocks/news/expecting-a-double-digit-growth-in-august-berger-paints/videoshow/77594252.cms">Abhijit Roy, MD &amp; CEO, Berger Paints told ET Now</a>. CG Power and Industrial Solutions <div type="image" title="CG Power" msid="77610037" hostid="261"></div> The shares of CG Power and Industrial Solutions hit 5% upper circuit on August 18 minutes after opening as the Singularity Holdings acquired 35 lakh shares of the company at ₹13.95 per share and the Blue Diamond Properties bought 4,12,93,778 shares of ₹13.97 per share. There were pending orders of 4,822,841 shares to buy, with no sellers available. GPT Infraprojects Ltd <div type="image" title="GPT infra" msid="77610111" hostid="261"></div> The shares of GPT Infraprojects Limited gained over 10% after the company announced that it had bagged an order valued at ₹196.30 crores. Railway Vikas Nigam, Kolkata has awarded the contract, which involves the construction of Metro Railway Viaduct and Ramp at Joka Depot end in connection with Joka Esplanade Metro Railway Project in Kolkata. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/tata-motors-sbi-card-bandhan-bank-ril-britannia-sbi-cards-share-price-are-top-movers-on-dalal-street-today/articleshow/77605529.cms" data-type="tilCustomLink">Top stock movers on Dalal Street today — Tata Motors, SBI Card, Bandhan Bank, RIL, Britannia</a> <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-today-ril-sbi-cards-hal-manappuram-airtel-bandhan-bank-britannia/slidelist/77603872.cms" data-type="tilCustomLink">Top stocks to watch today— RIL, SBI Cards, HAL, Manappuram, Airtel, Bandhan Bank and more</a>

Here's a look at top midcap gainers today— PNB Housing, Berger Paints, CG Power, GPT Infraprojects

<ul><li><keyword id="94237" type="COMPANY" weightage="20" keywordseo="Royal-Enfield">Royal Enfield</keyword> maker <keyword id="80296" type="CITY" weightage="20" keywordseo="Eicher-Motors">Eicher Motors</keyword> posted a net loss of ₹55 crores for the quarter ended June 30. </li><li>The revenue from operation declined 66% to ₹818 crore during the quarter.</li><li>This is the first time in at least a decade that the company has registered a loss in its quarterly earnings. </li></ul>Royal Enfield maker Eicher Motors posted a net loss of ₹55 crores for the quarter ended June 30. The company had reported a net profit of ₹452 crore in the same period last year. The revenue from operation declined 66% to ₹818 crore during the quarter under review. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Eicher Motors </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">April-June 2020 (YoY) </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-66% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Profit </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">112% </td></tr></tbody></table> This is the first time in at least a decade that the company has registered a loss in its quarterly earnings. “The last quarter has been challenging for the commercial vehicle industry with almost complete washout in the first two months of the quarter on account of the pandemic. Since the economic activity was impacted, the movement of goods and services was also severely impacted. As a result, the industry has witnessed one of the worst quarters with an overall volume decline of 91%,” said Vinod Aggarwal, MD, and CEO for the commercial vehicle segment.” The shares of the company ended nearly 2% lower at ₹ 21,671, while the benchmark index Sensex closed flat. <div type="image" title="Eicher share (1)" msid="77526002" hostid="261"></div> The coronavirus induced lockdown has taken a toll on automakers; the whole industry suffered a massive slowdown. And, Eicher business wasn’t immune to it either. The company’s massive chunk of revenue comes from the commercial vehicle segment; the sales came crashing down due to the shortage of labour and the pessimism around public transport. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Eicher Motors Segment </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q1 FY20 </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Growth % </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">VE Commercial Vehicles </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2100 </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-84% </td></tr></tbody></table> Its premium bike brand Royal Enfield also saw a massive decline of 69% in sales. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Eicher Motors Segment </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q1 FY20 </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Growth % </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Royal Enfield </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">57,300 </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-69% </td></tr></tbody></table> However, the company is quite positive about Royal Enfield's prospect. “From a business point of view, the initial consumer sentiment over the last two months has been very encouraging. Demand from semi-urban and rural towns have picked up well, and our network of studio stores across the country have been able to cater to this demand. There is pent up demand, and we are optimistic about stronger recovery once supply chain stabilizes,” said Vinod K. Dasari, CEO, Royal Enfield. The company also announced that its subsidiary VE Commercial Vehicles has entered into a business transfer agreement to acquire Volvo Group India's bus business for a cash consideration of ₹100.50 crore. "Post the completion of the transaction, VECV and VBI will consolidate their bus businesses into a newly formed bus division within VECV. This division will offer Volvo and Eicher branded buses, and will maximise synergies to capitalise on market opportunities," Siddhartha Lal, Chairman, VECV said. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-today-britannia-hero-motocorp-ashok-leyland-mm-financial-indiabulls-housing-and-more/articleshow/77516263.cms" data-type="tilCustomLink">Top stocks to watch today— Britannia, Hero MotoCorp, Ashok Leyland, M&amp;M Financial, Indiabulls Housing and more</a> <a href="https://www.businessinsider.in/tech/news/it-only-takes-50-tweets-to-find-a-troll-on-twitter/articleshow/77512151.cms" data-type="tilCustomLink">It only takes 50 tweets to find a troll on Twitter</a>

Eicher Motors registers first-ever net loss of ₹55 crore in at least a decade

Online grocery stores have told leading fast-moving consumer goods (FMCG) companies that over the coming two months, they might run out of stock, given the liquidation of inventory and heavy promotions planned for June, before the country sees the implementation of the <keyword id="6359833" type="ORGANIZATION" weightage="100" keywordseo="Goods-and-Services-Tax">goods and services tax</keyword> (<keyword id="6354679" type="ORGANIZATION" weightage="100" keywordseo="GST">GST</keyword>) on July 1. "The concern for us is there may be a shortfall in inventory just after the GST rollout," Vipul Parekh, cofounder of BigBasket, told <a href="http://economictimes.indiatimes.com/industry/cons-products/fmcg/gst-online-grocery-stores-worried-over-stocks-of-consumer-goods-running-out/articleshow/59043630.cms">ET</a>. "We have asked FMCG companies to ensure that stocks are not impacted in the three months just after the GST implementation." Even though <keyword id="2085200" type="UNKNOWN" weightage="100" keywordseo="Online-grocery-shopping">online grocery shopping</keyword> is a small industry when compared to the mammoth retail industry, it is growing at a fast pace, more so since e-commerce giants Amazon and Flipkart have made their debuts in the space. As per a recent Google-AT Kearney report on digital retail, FMCG and personal care, there will be a fast growth in these segments online, with the segments growing threefold by 2020. On their part, the companies have tried to convince the sellers that they are working toward minimising the possible shortfall in stocks post GST. "We will have enough stocks to fill up the pipeline. We are ensuring availability at every depot for quick replenishment of stocks," said Britannia's MD Varun Berry. (Image source The Hac)

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