Consumer goods shares lead as Marico jumps about 10% after results
The Nifty FMCG index was the best-performing sector on 3 November, up 3.65%. Marico rose about 10% after its September-quarter profit beat expectations, helped by lower copra (dried coconut) costs. Britannia gained 6.4%, Nestlé India 4.47%, Tata Consumer 4.29%, HUL about 3.4% and ITC about 2.8%. Analysts linked the move to festive-season demand ahead of Diwali and lower oil, which reduces packaging and transport costs. Some brokers remain cautious on the sector because of cost pressures, uneven rural demand and the risk of a weak monsoon next year.
The chain of consequences
- 1Marico reports better-than-expected profit as copra costs ease
- 2ITC results also well received
- 3Nifty FMCG index rises 3.65%
- 4Festive-season demand hopes add support
Tends to gain
Packaged-food and household-goods makers such as Britannia, Nestlé, Tata Consumer and HUL
Tends to lose
None directly; some analysts still flag cost pressures and weak rural demand
If it reverses
If raw-material costs rise again or rural demand stays soft, the sector's gains could fade.
Other stories today
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- Apollo Hospitals and NHPC report September-quarter results today