More Stories

Informist, Friday, Oct. 11, 2024

MUMBAI – Shares of fast-moving consumer goods are seen falling or moving in range next week, owing to weakness in consumer demand highlighted by several companies in their September quarter earnings. However, analysts remain hopeful of better performance due to a pickup in demand during the festival season and as rural demand becomes prominent.   

Consumer demand remained muted in Jul-Sept, which was visible in the quarterly earnings of FMCG major Hindustan Unilever Ltd., which reported a decline in its net profit. The company said it witnessed a slowdown in urban demand, while a recovery in rural demand was still muted. Apart from weak demand, higher input costs of several commodities, including palm oil, tea, and wood, have affected FMCG companies' profitability this quarter.

Several FMCG companies reported earnings this week and uncomfortable valuations of several of these stocks meant investors were quick to sell these post disappointing results. Among major companies, HUL, Tata Consumer Products, Nestle India, and Godrej Consumer Products have reported their September quarter earnings so far and all of these stocks declined this week. Shares of Tata Consumer were down nearly 11% this week, and those of HUL fell 7%.

Bucking the trend, shares of ITC rose over 4%. The company reported its earnings Thursday and impressed analysts with its ability to improve its margin despite a tough demand environment.

TOP HEADLINES

* Analyst Concall: Patanjali sees FY25 top line at INR 1 bln-INR1.25 bln
* Nirmal Bang, Prabhudas Lilladher cut ITC target price, Nuvama raises it
* Patanjali Foods Jul-Sept food, FMCG revenue falls on yr, EBITDA margin rises
* Earnings Review: Cigarettes, agri business drive ITC's Jul-Sept PAT, revenue
* Analyst Concall: Godrej Consumer won't cut quality to tweak soap formulations
* Earnings Review: Patanjali Foods' PAT jumps 21% YoY on higher revenue, EBITDA
* Analyst Concall: Lower growth of top-end pdts slows down United Spirits
* Earnings Review: Palm oil costs hit Godrej Consumer; Africa, US ops muted
* Bikaji Foods Jul-Sept consol PAT rises 13% on year to INR 691.63 million
* United Breweries Jul-Sept PAT rises 23% on year to INR 1.32 billion
* Radico Khaitan Jul-Sept PAT rises 33% on year to INR 822 million
* Adani Wilmar posts 3.11 billion consol PAT in Jul-Sept vs loss yr ago
* Earnings Review: Colgate India Jul-Sept PAT growth lowest in six quarters
* Zomato hikes platform fees to INR 10 in certain cities Wed
* Nirmal Bang, Prabhudas Lilladher cut HUL target price, Nuvama raises it
* Analyst Concall: Have option of selling ice-cream ops, or listing - HUL CFO
* Earnings Review:Weak demand hits United Spirits' revenue, but PAT meets view
* HUL hopes to keep margins stable; says urban slowdown hitting all products
* Earnings Review: HUL Jul-Sept PAT down on year as raw material cost rises
* HUL board OKs separation of ice cream ops, to decide mode of demerger yr-end
* UB's promoter Heineken says India Jul-Sept premium volume up in thirties
* Analyst Concall: Zomato sees no sign of slowdown despite weak consumption
* Earnings Review: Zomato Jul-Sept consol net up 5 times but misses estimates
* Bikaji Foods subscribes to additional 2.52 mln shares in Bikaji Foods Retail
* Triveni Engineering forays into whisky mkt, launches 2 whisky brands in UP
* Nestle India introduces Cerelac with no refined sugar, to hit market by Nov
* Patanjali Foods to mull interim dividend at board meet Thu
* Earnings Outlook: Volume, segment growth, Blinkit to drive Zomato earnings
* Brokerages keep Tata Consumer's rating unchanged post Jul-Sept earnings
* PRESS: Bhartia group to raise INR 125 bln to buy Coke bottling arm stake
* Analyst Concall: Tata Consumer to focus on long-term mkt shr gain over margin
* Earnings Review: Tata Consumer's consol PAT for Jul-Sept beats Street view
* Six brokerages cut Nestle India's target price, one cuts rating to 'reduce'
* Earnings Outlook: Volume growth to drive Jul-Sept consol PAT for Britannia

Following are the resistance and support levels for the stocks for next week as per calculations by Informist based on their prices on the National Stock Exchange:

End

Reported by Anshul Choudhary

Edited by Manisha Baxla

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.

Informist Media Tel +91 (22) 6985-4000

Send comments to feedback@informistmedia.com

© Informist Media Pvt. Ltd. 2024. All rights reserved.