 "The analysts also say that weak domestic remittances (due to reverse migration) and weak perishables output (in the past few months) do not leave rural households to spend much on FMCG and other products")
The Nifty FMCG index hits a new all-time high post Marico reported 18 per cent growth in the net profit for the fourth quarter ended March31, 2023. The stock was seen skyrocketing 9 per cent in the early trades on Monday.
Barring Britannia Industries and United Breweries, all other FMCG stocks were seen trading in green on Monday. Shares of Dabur, Tata Consumer Products and Mc-Dowell were the top gainers, soaring over 1 per cent each.
The FMCG index has so far risen 10 per cent since the start of the current year, with ITC, Nestle India, Radico Khaitan, and Varun Beverages zoomed 31 per cent, 12 per cent, 11 per cent and 10 per cent, respectively.
