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<ul class="summary-list"><li>Nearly five years ago, I lost 35 pounds while maintaining my muscle mass.</li><li>Eating high-volume foods helped me feel full and satisfied while in a calorie deficit.</li></ul>To lose weight, you need to be in a <a target="_blank" href="https://www.insider.com/weight-loss-work-out-eat-calorie-deficit-not-losing-fat-2022-4">calorie deficit</a>: consuming less energy than you burn over the course of the day.Whether you find it easier to stick to a calorie deficit by <a target="_blank" href="https://www.insider.com/intermittent-fasting-calorie-counting-best-weight-loss-diet-maintenance-2023-6">fasting</a> till the afternoon, following a specific diet, or counting <a target="_blank" href="https://www.insider.com/guides/health/diet-nutrition/how-to-count-macros">macros</a> is up to you, but for weight loss to be sustainable, <a target="_blank" href="https://www.insider.com/how-to-avoid-regaining-weight-keep-pounds-what-to-do-2019-10">the method generally has to be too</a>.When <a target="_blank" href="https://www.insider.com/healthy-fat-weight-loss-diet-tips-how-to-eat-lessons-2019-6">I lost 35 pounds</a> and <a target="_blank" href="https://www.insider.com/healthy-fat-weight-loss-maintain-muscle-exercise-fitness-tips-2019-6">reduced my body fat percentage from 30% to 17%</a> nearly five years ago, I didn't cut out any food groups or follow a specific diet, but I loosely tracked my calories and protein.I ate a <a target="_blank" href="https://www.insider.com/lazy-girl-snacks-high-protein-lose-fat-build-muscle-2023-8">high-protein diet</a>, as this helps you maintain muscle while losing fat and also helps you stay feeling full. Continuing to do so in the years since has helped me maintain my weight.Another trick I used to feel satisfied, and in turn less likely to turn to less nutritions, calorie-dense foods, is eating lower-fat, high-volume foods. There are foods that are low in calories but take up room in your stomach — and on your plate.Others might prefer to eat higher fat foods that can also help with satiety. There's nothing inherently fattening about fat, but it's more energy-dense: protein and carbs have four calories in each gram, while fat has nine.But quite simply, I love to eat. By choosing foods that take up a lot of space on my plate for not too many calories, I feel satisfied and full, and not like I'm depriving myself with tiny portions.Here are five of my favorite high-volume foods that made fat loss easier for me.<h2>1. Potatoes</h2>Some people shy away from potatoes, and carbs in general, when trying to lose weight, but they needn't. <a target="_blank" href="https://www.insider.com/what-carbs-eat-before-after-workouts-lose-fat-build-muscle-2022-8">Carbs are a great source of energy</a> and, especially if you choose whole-grain, brown versions, <a target="_blank" href="https://www.insider.com/tracked-fiber-intake-harder-than-expected-to-meet-daily-goal-2021-11">fiber</a> too.Research suggests that potatoes are one of the most satiating foods, and if you boil or bake them without adding lots of fat, they're relatively low-calorie while being high in volume. I love baked potatoes with <a target="_blank" href="https://www.insider.com/taste-test-i-made-queen-elizabeths-coronation-chicken-recipe-2022-6">coronation chicken</a>, chilli and cheese, or baked beans and cheese.<h2>2. Broccoli</h2>Not everyone loves broccoli, and that's fine. But I genuinely do. It's low in calories, quite high in protein for a vegetable, and when lightly steamed has a lovely texture. However, I do also love roasting my broccoli with some olive oil — slightly higher in calories but worth every bite.<h2>3. Fat-free Greek yogurt</h2>Greek yogurt is one of my staple foods and has been for years. I will admit that the higher fat version has an even more delicious texture, but if you're keeping an eye on your calories, fat-free Greek yogurt (or Icelandic skyr) is a great choice — you can eat a lot of it for very few calories, and it's an excellent source of protein too.I add mine to smoothies, <a target="_blank" href="https://www.insider.com/healthy-oat-based-breakfast-recipes-for-fat-loss-muscle-gain-2021-3">overnight oats</a>, granola and fruit, and even sometimes add a dollop to savory dishes.<h2>4. Popcorn</h2>While movie theater popcorn is often covered in sugar and butter, it's easy to find lower-calorie popcorn these days which is lightly flavored and therefore low in calories.Unlike most bags of chips, you can eat a lot of popcorn for not many calories so it's great for when you're not too hungry but just really want to snack on something.<h2>5. Strawberries</h2>Strawberries have a really high water content (while also providing nutrients and fiber) so they're a great low-calorie, high-volume food. To keep costs down, I use both frozen and fresh berries and eat them on top of oats, with Greek yogurt, in smoothies, or just as they are.

5 high-volume foods that helped me lose fat and maintain muscle, and keep the weight off for years

<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><keyword id="10926" type="General" weightage="100" keywordseo="reliance" source="Orion">Reliance</keyword> has launched indigenous consumer packaged goods brand ‘Independence’ that will offer products under several categories, including staples, processed foods, and daily essentials. </li><li>The company aims to start the national rollout of the brand with Gujarat. </li><li>In India, packaged goods volume took a hit at the start of 2022</li></ul><keyword id="15793795" type="General" weightage="20" keywordseo="Reliance-consumer-products" source="Orion">Reliance Consumer Products</keyword>, the FMCG arm of Reliance Ventures, launched its indigenous consumer packaged goods (CPG) brand ‘Independence’, on Thursday. The company said that under this brand, it will offer a wide range of products like staples, processed foods and other daily essentials. The company is preparing for a national roll-out, but launched on Thursday in Ahmedabad, Gujarat. Reliance said that it will develop Gujarat as a ‘go-to-market’ state. “I am happy to announce the launch of our own <keyword id="1559409" type="General" weightage="20" keywordseo="FMCG-brand" source="Orion">FMCG brand</keyword> Independence which brings a wide choice of high quality and affordable products including edible oils, pulses, grains, packaged foods and other daily need products,” said <keyword id="617730" type="General" weightage="80" keywordseo="isha-ambani" source="Orion">Isha Ambani</keyword>, director, Reliance Retail Ventures. Reliance Retail has <a href="https://www.ril.com/OurBusinesses/Retail.aspx#:~:text=As%20of%20March%2031%2C%202021,over%2033%20million%20sq%20ft.">over 12,000 stores </a>across the country, and is one of India’s largest retailers. However, the company said that it is collaborating with trade partners including manufacturers and kirana for the same. The FMCG industry in India is currently dominated by Hindustan Unilever, Nestle in addition to ITC and Godrej. A 2021 research by <a href="https://www.mckinsey.com/featured-insights/future-of-asia/the-shifting-consumer-packaged-goods-market-in-a-diversifying-asia">McKinsey Global Institute (MGI)</a> stated that Asia represents a $10 trillion consumption growth opportunity over the next decade. While the long term growth levers are firm, this calendar year has not been very profitable for the sector which had many drag factors like rising inflation that affected the purchasing power of many of its consumers and also increased the input costs of the producers. “Revenue growth was driven by price hikes, with volumes remaining subdued across categories. The volume contraction was more pronounced in rural areas. Companies expect rural demand to recover in the second half of FY23, on the back of government interventions, a good monsoon and higher crop realisations,” says a <a href="https://www.businessinsider.in/business/news/india-fmcg-sector-profits-may-be-weighed-by-ad-spend-hikes-price-cuts-bnp-paribas/articleshow/95903391.cms">recent report BNP Paribas</a>. Godrej Consumer Products <a href="https://www.livemint.com/industry/retail/packagedgoods-volumes-seen-taking-a-hit-11649273148601.html">said </a>in its March quarter update that “the sector continued to be hit hard by higher inflation levels, leading to successive price increases, and impacting volumes.” SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/a-quarter-of-indian-gig-workers-salaries-grew-by-50-in-the-last-one-year/articleshow/96253213.cms">A quarter of Indian gig workers’ salaries grew by 50% in the last one year</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/sensex-nifty50-fall-over-1-as-us-fed-commentary-disappoints/articleshow/96253271.cms">Sensex, Nifty50 fall over 1% as US Fed commentary disappoints</a>

Isha Ambani announces the launch of Reliance's new FMCG brand, Independence

<ul><li>Myntra and Facebook-backed Meesho sold<a href="https://www.businessinsider.in/business/ecommerce/news/meesho-recorded-5-35-million-orders-during-the-one-day-sale/articleshow/92100754.cms"> 60 orders every second</a> or over 5 million products in total on one day of their sale.</li><li>The Consumer Confidence Survey, carried out by the central bank of India, is still in <a href="https://indianexpress.com/article/business/households-see-high-prices-over-next-3-months-consumer-confidence-rises-7965166/">the negative territory</a>.</li><li>The impact of this reduced sentiment however isn’t as bad, especially in discretionary spends.</li></ul>India’s e-commerce titans — Amazon, Flipkart and Myntra — are all hosting their mid-year sales at the moment. It might sound like a bad time as customer sentiment is low due to inflation, layoffs, increasing interest rates and more. But the e-commerce market behaves much differently than<a href="https://www.businessinsider.in/stock-market/news/why-you-should-continue-your-investments-and-sips-in-bear-markets/articleshow/92199199.cms"> the stock markets</a>. Both Myntra and Facebook-backed Meesho — which is the latest entrant among the biggest e-commerce players — sold<a href="https://www.businessinsider.in/business/ecommerce/news/meesho-recorded-5-35-million-orders-during-the-one-day-sale/articleshow/92100754.cms"> 60 orders every second</a> or over 5 million products in total on one day of their sale. For Myntra, it was the first day of its End of Reason sale held between June 11-16 and for Meesho, it was their one-day sale held a week before. Amazon and Flipkart have not yet revealed the performance of their sales yet. *While inflation and high petroleum prices are impacting everyone, consumer sentiment is not universally low. There are many categories in discretionary spending which are still having high sales. Anything with relatively high quality and reasonable pricing seems to be doing well,” N Chandramouli, founder of brand intelligence company TRA Research, too noted. According to several experts Business Insider spoke with, the right product at the right price matters. The Consumer Confidence Survey is still in <a href="https://indianexpress.com/article/business/households-see-high-prices-over-next-3-months-consumer-confidence-rises-7965166/">the negative territory</a>. The Reserve Bank of India’s (RBI) consumer confidence index showed slight improvement to 75.9 in May, compared to 71.7 in March, but it is still in the negative. The impact of this reduced sentiment however isn’t as bad, especially in discretionary spends. “The consumer sentiment isn't as negatively impacted as people are projecting it to be,” Shrenik Gandhi, co-founder and CEO of digital marketing agency White Rivers Media, told Business Insider India. He noted that businesses have to come up with the right products and services at the right time, right price to attract customers. <cmsannotation type="cmsannotation" annotationid="A white space for brands" comment="subhead" text="A white space for brands">A white space for brands</cmsannotation> Shahan Sud, an investment banker turned VC, explained that the union of the attention recession and the impending recession will create a white space for brands that will allow them to curate their stockkeeping unit (SKU) that cater to consumers that are looking for a “value buy, but one that keeps up the fashion trends of the season”. A previous report by ICICI Securities, published earlier this week, also noted that the discretionary companies like retail, QSRs and jewellery will be performing well for now. The low-ticket segment of staples would have the biggest impact of the negative sentiment due to their dependency on the bottom strata for incremental volumes. <cmsannotation type="cmsannotation" annotationid="Beauty, durables will be the biggest sellers in 2022" comment="subhead" text="Beauty, durables will be the biggest sellers in 2022">Beauty, durables will be the biggest sellers in 2022</cmsannotation> Madhur Singhal, managing partner and CEO of Praxis Global Alliance, noted that there will be significant increase in direct-to-consumer (D2C) brands selling beauty, home, kitchen, utilities, and durable goods. Besides this, even electronics and durables will also record good sales this year. He believes that things could be much better than they are now. He noted that the sales will be soft for a few months before they pick up. Contrary to the popular opinion, he noted that the festive sales growth might be muted compared to last year as the trends of revenge buying and pent-up demand have faded away. “I think this year’s festive season will be much better than the previous two years, with consumer spend increasing,” Chandramouli said, differing from Singhal’s opinion. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/ril-hdfc-sbi-zomato-among-stocks-to-watch-out-for-on-june-16/slidelist/92242578.cms" style="">RIL, HDFC, SBI, Zomato among stocks to watch out for on June 16</a> <a href="https://www.businessinsider.in/business/startups/news/cashe-is-now-offering-instant-loans-on-whatsapp-in-30-seconds/articleshow/92230354.cms" style="">A company is now offering instant loans on WhatsApp in 30 seconds</a> <a href="https://www.businessinsider.in/business/startups/news/ronnie-screwvalas-upgrad-is-now-worth-more-than-2-billion/articleshow/92227976.cms">Ronnie Screwvala's UpGrad reportedly worth over $2 billion after fund infusion by Lakshmi Mittal and Sunil Bharti Mittal</a>

Amazon, Flipkart and Myntra sales – all unaffected by low consumer sentiment

<ul><li>At 7:50 am, the SGX Nifty was up 0.52%, indicating a positive 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 open in green on Monday, on the back of positive cues from the Asian peers. At 7:50 am, the SGX Nifty was up 0.52%, indicating a strong start for Nifty50. Other Asian markets were also trading in green such as — Hang Seng Index up over 1.1%, Nikkei 225 up 2% and Shanghai Composite Index was also up over 1%. These are the stocks to watch out for during the trading session today: Cipla The pharma giant Cipla reported a 38.95% jump in its consolidated net profit to ₹659.35 crore for the quarter ended September 30, led by the robust sales in all markets. The company said a sustained focus on cost optimisation during the quarter helped deliver an EBITDA (earnings before interest, taxes, depreciation, and amortization) margin of over 23%. The shares of Cipla ended 0.62% lower on Friday. ITC On Friday, Consumer staples-to-hospitality major ITC reported an 18.23% drop in its consolidated net profit to ₹3,413.44 crore. The drop came despite a 2.18% growth in its revenue from operations to ₹13,147.81 crore during the period under review. Its FMCG segment delivered a decent sales growth of 15.4% (YoY), but wasn’t enough to offset the volume decline of 12% in its cigarette segment. The shares of ITC ended 0.54% lower on Friday. Divi’s Labs Drug firm, Divi’ ’s Laboratories, reported a 45.63% rise in its consolidated net profit to ₹519.59 crore for the quarter ended September 30, mainly on account of robust sales. Consolidated total income stood at ₹1,762.94 crore compared to ₹1,492.60 crore for the same period a year ago. The shares of Divi’s Labs ended 0.40% higher on Friday. Biocon Kiran Mazumdar Shaw-led Biocon’s subsidiary, Biocon Biologics, had received a ₹1,125 crore investment from Goldman Sachs. This capital injection will enable Biocon Biologics to make prudent investments in R&amp;D, high-quality manufacturing, as well as, establish a global commercial footprint, the company said. The shares of Biocon ended 0.17% higher on Friday. Lakshmi Vilas Bank Private sector Lakshmi Vilas Bank (LVB) reported a net loss of ₹397 crore in the second quarter ended September 30 due to a rise in bad loans and provisions. Sequentially, the loss widened against ₹112.28 crore in the June quarter of this fiscal. The<a href="https://www.financialexpress.com/industry/banking-finance/made-significant-progress-with-clix-group-says-lakshmi-vilas-bank/2123468/"> bank also said</a> that despite logistical challenges arising due to the COVID-19 situation, the bank has made significant progress with Clix group for the proposed amalgamation of Clix Capital Service and Clix Finance India into the bank. The shares of Lakshmi Vilas Bank ended 0.64% higher on Friday. Voltas Electronics major Voltas reported 25.74% decline in consolidated net profit to ₹79.66 crore for the quarter ended September 30. The company also decided to restructure its business; it would transfer 100% of the B2B businesses to its wholly-owned subsidiary — Rohini Industrial Electricals Ltd (RIEL). The shares of Voltas ended 1% higher on Friday. Vedanta Vedanta reported a 61.8% decline in consolidated net profit to ₹824 crore for the quarter ended September 30, on the back of one-time tax expense. The decline came despite the stellar 33% growth in its revenue to ₹20,804 crore during the quarter under review. The shares of Vedanta ended 0.21% higher on Friday. Tata Consumer Products Tata Consumer Products reported an 18% rise in consolidated net profit to ₹234.33 crore for the quarter ended September 30, helped by an increase in domestic sales and volumes. Its revenue from operations was up 18.50% to ₹2,781.34 crore during the quarter under review. The shares of Tata Consumer Products ended 0.64% higher on Friday. IndiaMART InterMESH, Equitas SFB and VIP Industries IndiaMART InterMESH, Equitas SFB and VIP Industries are slated to report their second-quarter earnings today. SEE ALSO: <a href="https://www.businessinsider.in/science/news/the-world-has-surpassed-50-million-confirmed-coronavirus-cases/articleshow/79116745.cms">The world has surpassed 50 million confirmed coronavirus cases</a> <a href="https://www.businessinsider.in/politics/world/news/this-is-the-time-to-heal-in-america-president-elect-joe-biden-uses-his-victory-speech-to-address-a-fractured-country/articleshow/79108211.cms">'This is the time to heal in America': President-elect Joe Biden uses his victory speech to address a fractured country</a>

Top stocks to watch — ITC, Biocon, Tata Consumer, Cipla, Divi’s Labs, Voltas, IndiaMART, Equitas SFB, and others

<ul><li>The consumer pharma major <keyword id="143013" type="COMPANY" weightage="20" keywordseo="GlaxoSmithkline-Consumer-Healthcare">Glaxosmithkline Consumer Healthcare</keyword> GSK’s decision to dump its holding in <keyword id="6365619" type="COMPANY" weightage="20" keywordseo="hindustan-unilever">Hindustan Unilever</keyword> (<keyword id="44863" type="DOMAIN" weightage="20" keywordseo="HUL">HUL</keyword>) sparked a selling spree in the last one week. </li><li><keyword id="119621" type="COMPANY" weightage="20" keywordseo="Societe-Generale">Societe Generale</keyword>, which is a French investment company, bought 12.9 million shares of HUL. </li><li>And that led to a 3% rally on Friday at 11:40 am, according to Bombay Stock Exchange (BSE). </li><li>The company witnessed a 7% decline in sales volume between Jan-March 2020 and that came as a shocker for investors.</li></ul>The investors in India’s largest consumer staples company Hindustan Unilever (HUL) have recovered from a short-lived panic attack. Aside from disappointing earnings, the consumer pharma major <keyword id="78710" type="COMPANY" weightage="20" keywordseo="GlaxoSmithKline">Glaxosmithkline</keyword> Consumer Healthcare’s (GSK) decision to dump its holding in HUL, sparked a selling spree in the last one week. With its merger with GSK, Hindustan Unilever was set to become the biggest food company in India. However, as the HUL share price plunged, a new investor, Societe Generale, which is a French investment bank, was waiting to lap up GSK’s offer. Investors are ready to pay higher prices now, given the future growth expectations. And that led to a 3% rally on Friday at 11:40 am. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[<div class="flourish-embed flourish-chart" data-src="visualisation/2299205" data-url="https://flo.uri.sh/visualisation/2299205/embed"></div>]]></cdata></div> Societe Generale bought <a href="https://www.business-standard.com/article/markets/hul-surges-4-after-societe-generale-buys-1-29-crore-shares-via-bulk-deal-120050800300_1.html">12.9 million shares of HUL</a> priced at ₹1,902. This came after GSK dropped its 5.7 per cent stake in the Indian fast-moving consumer goods major, amounting to nearly ₹25,480 crore (nearly $3.3 billion). <div type="Article" hostid="261" msid="75621896" title="Top ten Indian stocks that can gain another 10%-30% even after the April rally, according to Macquarie" mstype="2" mssubtype="0"></div> ‘<keyword id="1157853" type="PERSON" weightage="20" keywordseo="HUL-shares">HUL shares</keyword> can rally another 18% in the next one year’ HUL has always been one of the most valued companies in India, based on price-to-earnings ratio ⁠— a valuation metric that indicates the price that an investor is willing to pay for every rupee of profit earned by the company. Based on that, the recent sell-off has made India’s fast-moving consumer goods giant even more attractive at these levels. Therefore, another investment bank Macquarie has put HUL as one of the top ten stocks that investors should buy with a target price of ₹2,500 (an implied gain of over 18% compared to the closing price on May 5 when the report was compiled). <div type="Article" hostid="261" msid="75615861" title="ICICI Bank’s earnings on May 9 will reveal the level of economic damage caused by COVID-19 at the level of small borrowers" mstype="2" mssubtype="0"></div> The earnings debacle that led to the recent correction in HUL India only shut down its economy on March 25; shops were open for nearly the entire quarter except for the last week. Even after that, people were hoarding, panic buying essentials every few days as the lockdown continued to extend, and is now scheduled to end on May 17. Several HUL products fall under essentials like sanitizers and hand wash in its brands. However, there was a larger downtrend as the weakness in demand became increasingly clear. In the last one month, the shares of India’s largest fast-moving consumer goods major slumped by 16% — since April 8. A lot of it has to do with a <a href="https://www.businessinsider.in/business/news/hul-fourth-quarter-earnings-report-volume-growth-and-share-price-chart/articleshow/75472021.cms">7% decline in sales volume</a> between Jan-March 2020 and that came as a shocker for investors. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[<div class="flourish-embed flourish-chart" data-src="visualisation/2250243" data-url="https://flo.uri.sh/visualisation/2250243/embed"></div>]]></cdata></div> If one week's lockdown could cause a 7% fall in volume growth, investors fear about what six weeks can do.<a href="https://www.businessinsider.in/stock-market/news/when-warren-buffett-feels-fear-global-markets-quake/articleshow/75538855.cms"> Investors in HUL lost over $3.5 billion</a> as the stock slumped over 5% on May 4 and 5. Now that the expectations of a weak performance is priced in, and the fact that investors are looking for safe bets at a time when the economy and market is in the grip of a crisis, the shares of HUL seem to be attracting buyers again. See also: <a href="https://www.businessinsider.in/stock-market/news/when-warren-buffett-feels-fear-global-markets-quake/articleshow/75538855.cms">When Warren Buffett feels 'fear', global markets quake</a> <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">HUL CEO had hoped for a V-shaped economic recovery from COVID-19 crisis ⁠— but investors fear a lot worse</a> <a href="https://www.businessinsider.in/finance/news/sbi-share-price-and-hdfc-bank-share-value-comparison/articleshow/75535265.cms">SBI, India's largest bank, is only worth a third of HDFC Bank — and the COVID-19 lockdown is making it bleed even more</a>

HUL shares are red hot as investors look past recent hiccups

<ul><li><keyword id="8675253" type="UNKNOWN" weightage="20" keywordseo="competitive-advertising">Competitive advertising</keyword> makes for a good public spectacle. If executed well, it helps generate engagement on social media platforms and create organic PR. </li><li>Was Sebamed’s recent advertising campaign targeted at FMCG giant HUL a smart move or just a PR spectacle, we speak to experts to find out. </li></ul>Rival brands have time and again engaged in ad wars by calling each other out on social media or pulling each other down publicly to achieve one-upmanship. We have all grown up watching ad wars between Burger King and McDonald’s, Tide and Rin, Mercedes and BMW, Coca-Cola and Pepsi and still look forward to watching their campaigns or tweets openly taking digs at each other. And in the age of social media, anything that is a little different from regular communications generates a lot of chatter. These wars have helped break monotony, given people laughs in dismal times and made sure they don't skip ads while watching TV. As the country continues to fight the pandemic together, these ad wars have also helped consumers stay distracted from the reality for a while. However, the advertising campaigns made to antagonise your rival brand can go either way -- it is like a double-edged sword, which can be sometimes confused with witless sloganeering. The recent raging ad war between FMCG giants <keyword id="6365619" type="DOMAIN" weightage="20" keywordseo="hindustan-unilever">Hindustan Unilever</keyword> (HUL) and German personal care brand Sebamed caught everyone’s attention in the media industry. The battle finally settled on January 19 as the <keyword id="48485" type="COMPANY" weightage="20" keywordseo="Bombay-high-court">Bombay High Court</keyword> allowed Sebamed to continue its advertising campaign with minor tweaks sans comparison with Rin. It made HUL’s Dove taste its own medicine, which is known for using its pH testing with a litmus paper to prove the mildness of its soap than other competitors. <div type="Youtube" id="-urr59Y65aY" title="Dove Litmus Test YouTube" thumbUrl="https://i.ytimg.com/vi/-urr59Y65aY/mqdefault.jpg"></div> In the campaign, Sebamed took a dig at HUL’s Dove, Pears and Lux claiming that it has a lower pH level than the mentioned soap brands and therefore, implying that it is better than soaps that HUL sells. The battle spiraled as HUL retaliated with a print ad and took the matter to court without giving a prior notice to Sebamed. While through an aggressive approach, Sebamed generated engagement on social media platforms and created organic PR. However, there is a thin line to tread between looking down on your competitor versus acknowledging how they let your creative juices flow by simply existing in the market. Was Sebamed’s strategy a great PR spectacle? Will it leave a long-lasting mark on the consumer's mind? How can HUL repair the dent the campaign made on its image in the market and win back its consumers? We reached out to a few experts to ask these questions. Here is what they said: <cmsannotation type="cmsannotation" annotationid="Lloyd Mathias, Business Strategist and former APAC Marketing head of HP Inc:" text="Lloyd Mathias, Business Strategist and former APAC Marketing head of HP Inc:">Lloyd Mathias, Business Strategist and former APAC Marketing head of HP Inc:</cmsannotation> I think Sebamed played a smart gambit by precipitating a competitive war with market leader HUL, and by making consumers aware of acidity in soaps. As a new entrant and marginal player, they propelled themselves into a serious challenger by taking on bigger established brands, forcing them to respond. This helped them build huge awareness overnight that would have taken years to achieve had they not resorted to this competitive strategy. Given that Sebamed’s products are priced at a much higher level than their competitors products, for many consumers it will still be an issue of affordability. Every consumer purchase eventually is about a price-value proposition. So in that sense, Sebamed has just established its value proposition of being low on the acidity scale - and not proved that HUL’s products are inferior. I think HUL can continue to build on its huge legacy of consumer trust and its portfolio of value-for-money products, while continuing to establish the value proposition of its various brands in the personal hygiene segment. HUL’s significant distribution advantage - and products across price segments - is also a big factor that will help overcome any short term image loss. And while engaging in competitive advertising, brands should always stay focused on their core value proposition. Also, very important for them to be 100% factual and not mislead consumers. Being competitive is good but being truthful and anchored in your value proposition is paramount. <cmsannotation type="cmsannotation" annotationid="Ronita Mitra, Founder and Chief Strategist, Brand Eagle Consulting:" text="Ronita Mitra, Founder and Chief Strategist, Brand Eagle Consulting:">Ronita Mitra, Founder and Chief Strategist, Brand Eagle Consulting:</cmsannotation> For Sebamed, a new entrant in a highly saturated market with large established brands, it would have been extremely difficult to make a dent in the market unless backed by massive spends. In such a scenario, leveraging and claiming genuine product superiority backed by scientifically proven data seemed to be an audacious and a smart move, possibly the only way that they could have attracted attention and generated trials. Sebamed will need to move fast in establishing awareness of and credibility for its claims of product compatibility with skin and garner a base of trialists. Once they have got the initial base of trialists based on performance, they should evolve the communication to the next level by focusing on image and identity and building an emotional affinity with the brand, beyond performance and beyond referencing of competitive brands. It should evolve towards creating a strong independent brand story. Large, established brands across industries need to come to terms with a new reality wherein large advertising spends and large market shares are no longer a cover for sub-optimal quality of products and services. Today’s young consumer, especially, does not necessarily equate big with quality. They are open to, in fact sympathetic towards new and fresh stories, especially when backed by honest, proven data. With so much focus on brand purpose, brand purpose cannot be treated as an academic exercise, rather needs to sit as a layer on top of authenticity and transparency. In the not so distant future, HUL might be forced to improve its products and come back with re-formulated soaps that have ph-compatibility with skin to create a level playing field and strengthen its market share further with its advertising spends. Sebamed should be prepared for such a response from its largest competitor. The Sebamed case may just unleash a new wave of boldness among new brands that can genuinely deliver quality product performance regardless of the competitive environment. <cmsannotation type="cmsannotation" annotationid="Harish Bijoor, Brand Guru &amp; Founder, HarishBijoor Consults Inc." text="Harish Bijoor, Brand Guru &amp; Founder, HarishBijoor Consults Inc.">Harish Bijoor, Brand Guru &amp; Founder, HarishBijoor Consults Inc.</cmsannotation> I do not think HUL is a bully or ever has been one. HUL brands are owned by consumers, and their success is testimony to the fact that consumers are with them and their products. A marketing company cannot ever be a bully. A marketing company needs to stand with its consumers, with a firm finger on the pulse of these very consumers. I do believe HUL does that well. Sebamed's campaign on the other hand, was a smart one. They were careful in their tone, tenor and decibel of language. They appeared to be making a mere comparison on the levels of PH across soap brands. The straight line comparison was between Sebamed and Lux. The anughty and nifty equation they established subliminally in the minds of consumers is the one between Lux and Rin, with both their pH levels at 10. That was naughty. That was nifty. And that did it. Sebamed knew for sure that their ads would be pulled down. And it was, for a while. The damage had however been done. The high decibel front-ended spends by the brand ensured that communication on the story of pH was complete. The battle is still open as of now. I think Sebamed has won the image war, not the volume or market share skirmish yet. Brands must make sure that what they are saying is the truth. And that nothing is denigrative of the brand attacked. <cmsannotation type="cmsannotation" annotationid="Karthik Srinivasan, Social Media Expert and Independent Brand Consultant:" text="Karthik Srinivasan, Social Media Expert and Independent Brand Consultant:">Karthik Srinivasan, Social Media Expert and Independent Brand Consultant:</cmsannotation> I always thought Sebamed's campaign idea was both disruptive and clever. Sebamed used an attacking tactic aptly, using science to back them. That they are repeating Dove's own tactic is a good irony to observe, even though the Court has clearly mentioned that 'two wrongs do not make a right' (that is, just because Dove used pH to attack other brands earlier, it doesn't mean Sebamed has the right to use the same tactic now). Also, considering Sebamed retails in a very different, higher price range, any and every deflection from the market shares of Dove, Pears, Lux and Santoor and other soaps would be welcome and add to Sebamed's numbers significantly. Sebamed could have targeted soaps in their price range - that would be conventional marketing wisdom, to go after Kama Ayurvedic, Forest Essentials, Roots Botanica, Good Earth etc. But that would be like aiming for the room's ceiling in terms of market share - what they have done is to aim for the sky, and won, in the process, at least in terms of significant awareness! The soap brand to lose the most, in terms of perception, is Dove, since it used the same pH factor to convince people earlier that they are better. Dove would need to think through their predicament really sharply. Given the heightened trust and interest in all-things science and doctors as a result of the pandemic and the vaccines, I'd think they may use the doctor/dermatologists route to win back trust. But that's also a staple of Sebamed, so it'd be an interesting battle ahead. As for the other soaps (Lux, Santoor, Pears etc.), they have an uphill battle ahead in terms of perception building since they have been showcased as less-than-ideal. It is a great challenge for their brand teams and agencies, to deal with and come out with perception-changing communication. Competitive advertising would obviously bring both disruptive attention and unwanted animosity too - it's a double-edged sword and comes with its own risks. So, while comparing, dissect your logic and points thoroughly. Cross-question your strategy, words and communication yourself, as if you are the rival, dispassionately. Anticipate that the rival would drag you to the court - what would be their arguments? If brands diligently follow these steps, they could anticipate and identify their own weaknesses and plan for it proactively. Also, more importantly, when your brand talks down rivals, from an end-user point of view, that signals another intent - "if they can talk down rivals, then they should be ok when we (users) talk down them too", particularly for larger brands. In this case, Sebamed could be seen as an underdog, so they may have escaped this factor to some extent, even though many users may not appreciate the negativity layered in their communication.

Was Sebamed’s competitive strategy strong enough to leave a long-lasting mark on the consumer’s mind?

New Delhi, Jan 29 () FMCG major Godrej Consumer Products Ltd (GCPL) on Wednesday reported a 5.11 per cent increase in consolidated net profit at Rs 445.20 crore in the third quarter ended December, helped by volume growth in domestic business.
 The company had posted a net profit of Rs 423.52 crore in October-December quarter a year ago, GCPL said in a BSE filing.
 Total income during the quarter under review stood at Rs 2,801.57 crore, 1.99 per cent lower as compared with Rs 2,746.65 crore in the year-ago period. 
 The company's total expenses rose 1.28 per cent to Rs 2,244.16 crore as against Rs 2,215.79 crore a year ago. 
 Commenting on the results, GCPL Executive Chairperson Nisaba Godrej said, "We delivered a steady performance in the third quarter of fiscal year 2020. Our India business delivered a robust volume growth of 7 per cent alongside gaining market shares across major categories, amid further deterioration in staples consumption."
 GCPL's India revenue rose 1.21 per cent to Rs 1,523.87 crore during October-December from Rs 1,505.64 crore in the corresponding quarter a year ago.
 The company's revenue from Indonesian market rose 13.32 per cent to Rs 448.22 crore as compared with Rs 395.51 crore in the year-ago period. 
 "In our international businesses, Indonesia continued its strong performance with high single digit profitable sales growth driven by a consistent performance across categories and several go-to-market initiatives," Godrej said.
 Africa (including Strength of Nature) sales were marginally lower at Rs 678.70 crore as against Rs 682.30 crore a year ago.
 "In GAUM (Godrej Africa, USA, Middle East), we saw a sales recovery with higher than mid-single digit constant currency sales growth. The performance was driven by an improved performance in our South and West Africa cluster," she said.
 "We continue to drive the scale up of the wet hair care business and the relaunch of the Darling brand in the dry hair category, along with expansion in distribution across GAUM," Godrej added.
 Revenue from other markets was 3.23 per cent lower at Rs 161.12 crore as against Rs 166.50 crore in October-December a year ago.
 The company also informed that its board has declared an interim dividend of Rs 2 per share for financial year 2019-20.
 Shares of Godrej Consumer Products Ltd on Wednesday closed 0.87 per cent higher at Rs 742.10 on the BSE. KRH RVK

Godrej Consumer Products Q3 net profit up 5.11 pc to Rs 445.20 cr

Revenue growth of consumer discretionary companies in India has hit a 20-year low and they are expected to report weak earnings for the December quarter as the consumption pattern for products across all categories remains sluggish, says a report. 
 Discretionary companies include <keyword id="6381299" type="COMPANY" weightage="20" keywordseo="automobiles">automobiles</keyword>, <keyword id="161513" type="UNKNOWN" weightage="20" keywordseo="luxury-goods">luxury goods</keyword> and high-end retail, among other categories. 
 "Earnings expectations have been tempered across the sector, more so for discretionary companies and to a lesser extent for the large staples companies. Expectations over the next few years are now considerably lower than historical growth rates," the American brokerage <keyword id="151304" type="CITY" weightage="20" keywordseo="Jefferies">Jefferies</keyword> said in an earnings preview report, without quantifying it. 
 "Discretionary consumption is unlikely to worsen from here, and we are yet to see strong signs of recovery," the report said, adding that <keyword id="34523" type="CITY" weightage="20" keywordseo="fmcg">FMCG</keyword> companies are faring slightly better now but they still face further risks from the deepening rural and low-end consumption down cycle. 
 The report also warned of deflationary trends saying revenue growth for <keyword id="921947" type="UNKNOWN" weightage="20" keywordseo="Consumer-companies">consumer companies</keyword> has been under pressure for several quarters, now the biggest worry is the deflationary trends setting coupled with weak volume growth. 
 
"In real terms, though, FMCG segments seem to be faring better than discretionary categories, where growth has now dropped even below historical lows. While one might wish to bank on the resilience of FMCG, past data suggest that nearly all consumer companies suffer badly in a prolonged slowdown of the kind we are witnessing now," the report added. 
 
Against the backdrop of a weakening rural and low-end consumption cycle, risks to FMCG growth seem significantly high, it said, adding that the only solace being the benign commodity prices, which has boosted profitability for consumer companies. 
 
"This is particularly true for paints and the smaller FMCG firms that have grown earnings far ahead of the sector in recent quarters. Margin gains in paints could likely sustain given the nature of the industry," it said. 
 
However, it is cautious on the margin trajectory for the smaller FMCG companies, as it expects them to pass on the benefits of benign commodity in a weak demand scenario. The report also noted that despite lingering slowdown, valuations for companies continue to be high. 
 
(Image credit: Economic Times)

Consumer
companies' topline growth hits 20-year low: Jefferies

The numbers being forecast for the Internet of Things (IoT) are mind-boggling.
<a href="https://intelligence.businessinsider.com/the-internet-of-things-2013-10?utm_source=House&amp;utm_medium=Edit&amp;utm_term=M-IoT-ORG-7-10-14&amp;utm_content=link&amp;utm_campaign=BIIMobile" onclick="this.href = this.href + '-' + window.location.search.substr(1).replace(/\&amp;|\=/g, '-');">BI Intelligence</a> finds that <a href="https://intelligence.businessinsider.com/the-internet-of-things-2013-10?utm_source=House&amp;utm_medium=Edit&amp;utm_term=M-IoT-ORG-7-10-14&amp;utm_content=link&amp;utm_campaign=BIIMobile" onclick="this.href = this.href + '-' + window.location.search.substr(1).replace(/\&amp;|\=/g, '-');">1.9 billion once-inert everyday and enterprise devices are already connected to the internet - from parking meters to home thermostats - and by 2018 that number will top 9 billion.</a>
That's roughly equal to the number of smartphones, smart TVs, tablets, wearable computers, and PCs combined. 
There are already clear signs that the biggest tech companies - and even smaller players - are trying to get out front of the race to dominate the IOT. Google has acquired Nest. Apple has unveiled its HomeKit platform. Even Staples and Honeywell - not typically companies thought of as tech leaders - are putting out new IOT-related products. 
As uptake among consumers and businesses ticks up, <a href="https://intelligence.businessinsider.com/the-internet-of-things-2013-10?utm_source=House&amp;utm_medium=Edit&amp;utm_term=M-IoT-ORG-7-10-14&amp;utm_content=link&amp;utm_campaign=BIIMobile" onclick="this.href = this.href + '-' + window.location.search.substr(1).replace(/\&amp;|\=/g, '-');">BI Intelligence finds in a recent report that the IOT market will drive trillions in economic value as it permeates consumer and business life.</a> Soon, it will be perfectly normal to have a refrigerator that talks to you and a garage door you open with your smartphone.
<div class="KonaFilter image-container"><div class="image"><a href="https://intelligence.businessinsider.com/the-internet-of-things-2013-10?utm_source=House&amp;utm_medium=Edit&amp;utm_term=M-IoT-ORG-7-10-14&amp;utm_content=link&amp;utm_campaign=BIIMobile"></a>BII</div></div>
In the consumer space, <a href="https://intelligence.businessinsider.com/the-internet-of-things-2013-10?utm_source=House&amp;utm_medium=Edit&amp;utm_term=M-IoT-ORG-7-10-14&amp;utm_content=link&amp;utm_campaign=BIIMobile" onclick="this.href = this.href + '-' + window.location.search.substr(1).replace(/\&amp;|\=/g, '-');">many products and services have already crossed over into the IoT</a>, including kitchen and home appliances, lighting and heating products, and insurance company-issued car monitoring devices that allow motorists to pay insurance only for the amount of driving they do. 
<a href="https://intelligence.businessinsider.com/the-internet-of-things-2013-10?utm_source=House&amp;utm_medium=Edit&amp;utm_term=M-IoT-ORG-7-10-14&amp;utm_content=link&amp;utm_campaign=BIIMobile" onclick="this.href = this.href + '-' + window.location.search.substr(1).replace(/\&amp;|\=/g, '-');">Access The Full Report And Data By Signing Up For A Free Trial Today &gt;&gt;</a>
In the report, we also find that there's a huge amount of innovation happening in the business-to-business IOT space right now.
Here's a look at some of the most important enterprise applications that are already being developed:
<ul>
<li><a href="https://intelligence.businessinsider.com/the-internet-of-things-2013-10?utm_source=House&amp;utm_medium=Edit&amp;utm_term=M-IoT-ORG-7-10-14&amp;utm_content=link&amp;utm_campaign=BIIMobile" onclick="this.href = this.href + '-' + window.location.search.substr(1).replace(/\&amp;|\=/g, '-');">Connected advertising and marketing.</a> Cisco believes that this category (think Internet-connected billboards) will be one of the top three IoT categories, along with smart factories, and telecommuting support systems.</li>
<li><a href="https://intelligence.businessinsider.com/the-internet-of-things-2013-10?utm_source=House&amp;utm_medium=Edit&amp;utm_term=M-IoT-ORG-7-10-14&amp;utm_content=link&amp;utm_campaign=BIIMobile" onclick="this.href = this.href + '-' + window.location.search.substr(1).replace(/\&amp;|\=/g, '-');">Intelligent traffic management systems.</a> Machina research, in a paper prepared for the GSM Association, sees $100 billion in revenue by 2020 for applications such as toll-taking and congestion penalties. A related revenue source will be smart parking-space management, expected to drive $30 billion in revenue.</li>
<li><a href="https://intelligence.businessinsider.com/the-internet-of-things-2013-10?utm_source=House&amp;utm_medium=Edit&amp;utm_term=M-IoT-ORG-7-10-14&amp;utm_content=link&amp;utm_campaign=BIIMobile" onclick="this.href = this.href + '-' + window.location.search.substr(1).replace(/\&amp;|\=/g, '-');">Waste management systems</a>. In Cincinnati, residential waste volume fell 17% and recycling volume grew by 49% through use of a "pay as you throw" program that used IoT technology to monitor those who exceed waste limits.</li>
<li><a href="https://intelligence.businessinsider.com/the-internet-of-things-2013-10?utm_source=House&amp;utm_medium=Edit&amp;utm_term=M-IoT-ORG-7-10-14&amp;utm_content=link&amp;utm_campaign=BIIMobile" onclick="this.href = this.href + '-' + window.location.search.substr(1).replace(/\&amp;|\=/g, '-');">Smart electricity grids that adjust rates for peak energy usage.</a> These will represent savings of $200 billion to $500 billion per year by 2025, according to the McKinsey Global Institute.</li>
<li><a href="https://intelligence.businessinsider.com/the-internet-of-things-2013-10?utm_source=House&amp;utm_medium=Edit&amp;utm_term=M-IoT-ORG-7-10-14&amp;utm_content=link&amp;utm_campaign=BIIMobile" onclick="this.href = this.href + '-' + window.location.search.substr(1).replace(/\&amp;|\=/g, '-');">Smart water systems and meters.</a> The cities of Doha, Sa~o Paulo, and Beijing have reduced leaks by 40 to 50% by putting sensors on pumps and other water infrastructure.</li>
<li><a href="https://intelligence.businessinsider.com/the-internet-of-things-2013-10?utm_source=House&amp;utm_medium=Edit&amp;utm_term=M-IoT-ORG-7-10-14&amp;utm_content=link&amp;utm_campaign=BIIMobile" onclick="this.href = this.href + '-' + window.location.search.substr(1).replace(/\&amp;|\=/g, '-');">Industrial uses</a> including Internet-managed assembly lines, connected factories, and warehouses, etc.</li>
</ul>
To access BI Intelligence's full report, <a href="https://intelligence.businessinsider.com/the-internet-of-things-2013-10?utm_source=House&amp;utm_medium=Edit&amp;utm_term=M-IoT-ORG-7-10-14&amp;utm_content=link&amp;utm_campaign=BIIMobile" onclick="this.href = this.href + '-' + window.location.search.substr(1).replace(/\&amp;|\=/g, '-');">Here Comes The Internet Of Things</a>, sign up for <a href="https://intelligence.businessinsider.com/the-internet-of-things-2013-10?utm_source=House&amp;utm_medium=Edit&amp;utm_term=M-IoT-ORG-7-10-14&amp;utm_content=link&amp;utm_campaign=BIIMobile" onclick="this.href = this.href + '-' + window.location.search.substr(1).replace(/\&amp;|\=/g, '-');">a free trial subscription here</a>. Subscribers also gain access to over 100 in-depth reports on social and mobile, and <a href="https://intelligence.businessinsider.com/the-internet-of-things-2013-10?utm_source=House&amp;utm_medium=Edit&amp;utm_term=M-IoT-ORG-7-10-14&amp;utm_content=link&amp;utm_campaign=BIIMobile" onclick="this.href = this.href + '-' + window.location.search.substr(1).replace(/\&amp;|\=/g, '-');">hundreds of charts and datasets</a>.

The 'Internet Of Things' Will Soon Be A Truly Huge Market, Dwarfing All Other Consumer Electronics Categories

<ul class="summary-list"><li>Bank of America predicts large-cap value stocks will start to outperform growth stocks.</li><li>Value has underperformed growth stocks for two decades but that could soon reverse.</li></ul>The most boring area of the stock market is poised for a "renaissance" of outperformance, according to <a target="_blank" href="https://markets.businessinsider.com/stocks/bac-stock?miRedirects=1">Bank of America.</a>"Read my lips: Large. Cap. Value," Bank of America strategist Savita Subramanian wrote in a note.According to the bank, boring value stocks, which have practically been left for dead as investors chase AI-fueled growth names, are set to outperform the broader stock market for the first time in a long time."After two decades of steady underperformance, US value may outperform growth again," Bank of America said.According to the bank, there are three scenarios where value should be the preferred area of the stock market to own.<h3 id="9b4aaee9-3753-427f-8930-6850ca58f356">Broader earnings growth</h3>"After a decade of underinvestment, low quality earnings, and the onset of inflation, corporates focused on efficiency should mean broader S&amp;P 500 earnings growth through 2025," the bank said.That means it won't be just the mega-cap tech companies driving earnings growth and higher stock prices."Value sectors starved for capital, such as energy with newfound capital discipline and financials with stronger balance sheets and better lending capacity should be rewarded as earnings growth catches up," Bank of America said.<h3 id="5d5a172d-d263-4bec-b387-750eb99854d5">A hard landing</h3>Another scenario in which value stocks should outperform is if the economy experiences a hard landing.That would likely lead to a sharp sell-off in growth-oriented stocks and the relative outperformance of value stocks."Equity allocations are near record highs, and if recession odds begin to rise, investors rotating from equities to bonds will necessarily be selling more growth than value," Bank of America said.<h3 id="e255f11a-87cf-47ac-9765-7ff85a6f3e04">A 5% interest rate world</h3>A <a target="_blank" href="https://www.businessinsider.com/category/interest-rates">"higher for longer" interest rate regime</a> should benefit value stocks and drive their outperformance, according to the bank."US value stocks have lagged growth by an unprecedented 230% in the '2% world' interruption caused by peak globalization, deflationary technology, optimal demographics, and low debt burdens. A world of structurally higher rates and inflation should bolster value stocks," Bank of America said.The bank said a reversion to the mean in interest rates and other macro factors could support an annualized five percentage points of outperformance for value stocks relative to growth stocks.For investors seeking to take advantage of the potential value trade, the bank recommends <a target="_blank" href="https://www.businessinsider.com/category/investing">investors take a look at four sector ETFs</a> that are value oriented.<h3 id="5cd31905-1e4a-4110-ba9b-8328f2e32293">Utilities</h3>"Utilities (XLU, FXU) have one of the lowest ETF valuation scores with P/Es at their lowest level since 2009 vs. the S&amp;P 500. Utilities control the power required for AI to realize its potential," Bank of America said.<h3 id="67c3bb25-d151-4750-92ae-a5383c39c27f">Energy</h3>"Energy (XLE, OIH, MLPX) screens cheap at the sector and industry levels. Energy companies should benefit from tight markets and the embrace of capital discipline. Energy industries like services should benefit from rising demand while MLPs offer strong balance sheets, high yields, and access to supply-constrained natural gas markets," Bank of America said.<h3 id="5a8bf34f-8aab-453b-817a-bab2cb7ec586">Banks</h3>"Banks (KBE, KBWB) look more attractive today than the broad financials sector. Head of North American Banks research Ebrahim Poonawala expects strong mega-cap bank performance to continue and thinks regionals can get a boost from more certainty around Fed cuts," Bank of America said.<h3 id="3b87a766-e3f9-4cb0-9438-d90fb4b2ea9c">Consumer Staples</h3>"Staples (IYK) ETFs look relatively cheap - understandable given recent concerns over consumer behavior. Sativa Subramanian is underweight staples, but in a hard landing scenario our stock analysts see scope for deeper food retail promotions, which should help boost volumes," Bank of America said.

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