FMCG Stocks Outlook for the week – 29.05.2017 to 02.06.2017
FMCG Stocks Outlook for the week – 29.05.2017 to 02.06.2017
( www.rupeedesk.in )
Prospects of a good monsoon, recovery in sales growth from the demonetisation-led slump for most companies, and underlying bullish sentiment in the market are likely to push stocks of fast moving consumer goods companies higher next week. Pre-monsoon showers accompanied by thunderstorms are likely to cover most parts of the country by Sunday, private weather forecaster Skymet said yesterday. Next week, shares of ITC are likely to rise further, aided by strong cigarette sales in Jan-Mar. Yesterday, the company's stock surged to a fresh lifetime high after the company reported a 6.2% on-year rise in net sales to 150.1 bln rupees due to a near 5% growth in cigarette revenue, its main business, to 89.5 bln rupees. Yesterday, the scrip ended 3% higher at 309.10 rupees and is likely to test 352 rupees in the near term. Stocks of Hindustan Unilever, which gained 3.3% this week, are likely to inch higher as the company has hiked product prices by 2-7% in May. HUL's stock is moving in an uncharted territory with ample volumes. We expects shares of Britannia Industries to plunge further as the stock is trading below the 21-day moving average amid high volumes. The company's failure to improve its operating margin during the quarter ended March--earnings before interest, taxes, depreciation and amortization margin was flat on year at 13.30%--weighed on its stock yesterday and the scrip ended 2.9% lower from the previous close. Through this week, the Nifty FMCG index gained 4.7%, aided by favorable rates under goods and services tax. Yesterday, the index scaled to a lifetime high of 25711.15 points. Next week, stocks of United Spirits, Godfrey Phillips India, Ruchi Soya Industries, Parag Milk Foods, and Manpasand Beverages will be on investors' radar as these companies are set to detail their earnings for the Jan-Mar.
Source : Cogencis Information Services Ltd.
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FMCG Stocks Outlook for the week – 29.05.2017 to 02.06.2017
( www.rupeedesk.in )
Prospects of a good monsoon, recovery in sales growth from the demonetisation-led slump for most companies, and underlying bullish sentiment in the market are likely to push stocks of fast moving consumer goods companies higher next week. Pre-monsoon showers accompanied by thunderstorms are likely to cover most parts of the country by Sunday, private weather forecaster Skymet said yesterday. Next week, shares of ITC are likely to rise further, aided by strong cigarette sales in Jan-Mar. Yesterday, the company's stock surged to a fresh lifetime high after the company reported a 6.2% on-year rise in net sales to 150.1 bln rupees due to a near 5% growth in cigarette revenue, its main business, to 89.5 bln rupees. Yesterday, the scrip ended 3% higher at 309.10 rupees and is likely to test 352 rupees in the near term. Stocks of Hindustan Unilever, which gained 3.3% this week, are likely to inch higher as the company has hiked product prices by 2-7% in May. HUL's stock is moving in an uncharted territory with ample volumes. We expects shares of Britannia Industries to plunge further as the stock is trading below the 21-day moving average amid high volumes. The company's failure to improve its operating margin during the quarter ended March--earnings before interest, taxes, depreciation and amortization margin was flat on year at 13.30%--weighed on its stock yesterday and the scrip ended 2.9% lower from the previous close. Through this week, the Nifty FMCG index gained 4.7%, aided by favorable rates under goods and services tax. Yesterday, the index scaled to a lifetime high of 25711.15 points. Next week, stocks of United Spirits, Godfrey Phillips India, Ruchi Soya Industries, Parag Milk Foods, and Manpasand Beverages will be on investors' radar as these companies are set to detail their earnings for the Jan-Mar.
Source : Cogencis Information Services Ltd.