FMCG Stocks Outlook
May track cos' business update before Jul-Sept earnings
This story was originally published at 20:09 IST on 3 October 2025
Register to read our real-time news.Informist, Friday, Oct. 3, 2025
MUMBAI – The stocks of fast-moving consumer goods companies will take cues from provisional updates provided by them ahead of the September quarter earnings, analysts believe. The impact of goods and services tax rationalisation on the market is seen having subsided following a post-rally profit booking in these stocks.
The Nifty FMCG closed 0.1% higher at 55170.60 points, up 65.25 points. The index closed 0.6% higher over this week but has fallen more than 3% in over 30 days. "FMCG index is trading around the lower band of the six-month-long congestion range (54000-57200 zone). An either-side break from this range is required for any directional move in that direction," said Vipin Kumar, assistant vice-president of equity research and senior derivatives analyst at Globe Capital Market. He expects the index to find support at 54400 points and face resistance at 55800 points.
Additionally, the benefit of goods and services tax rationalisation is expected to be visible from the December quarter, while the September quarter earnings are likely to take a slight hit due to deferred purchase and stock of inventory with previous prices. In its quarterly update, Marico Friday said its consolidated revenue growth is expected to touch thirties in the September quarter on a year-on-year basis on the back of pricing interventions and mix improvement. The company expects modest operating profit growth on year as it extended discounts on pipeline inventory to channel partners during the two weeks leading up to the effective date of the GST rate rationalisation.
The Union Cabinet Wednesday approved a 300-basis-point increase in dearness allowance and dearness relief to 58% of basic pay and pension, respectively, for central government employees and pensioners, effective Jan. 1. The increase will cost the exchequer INR 100.84 billion per annum, Information and Broadcasting Minister Ashwini Vaishnaw said at a press conference. This move will put extra money in the wallets of the consumers before the festival season. With this revision, the allowance has been increased to 58% from 55% of basic pay and pension. The move is set to benefit 4.92 million employees and 6.87 million pensioners.
Market participants expect a recovery in rural demand as well as a growth in sales volume, analysts said. While they do not expect the volume growth to be "supernormal", they see a shift of consumer sentiment towards premium products. The fall in prices of goods due to GST cuts and more money to spend due to income tax changes are expected to attract customers towards premiumisation, analysts said.
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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:
| Company | Price | Week-on-week change in % | Resistance | Support |
| AWL Agri Business | 265.40 | 1.50 | 269.90 | 258.40 |
| Britannia Industries | 5992.50 | 1.20 | 6061.80 | 5896.80 |
| Colgate Palmolive India | 2213.90 | (-)0.50 | 2248.90 | 2174.10 |
| Dabur India | 496.15 | (-)0.70 | 502.00 | 487.90 |
| Emami | 550.55 | (-)1.30 | 560.40 | 537.40 |
| Godrej Consumer Products | 1148.00 | (-)1.40 | 1162.50 | 1127.70 |
| Hindustan Unilever | 2544.90 | 1.30 | 2574.20 | 2493.60 |
| ITC | 404.30 | (-)0.20 | 407.20 | 400.80 |
| Jyothy Labs | 313.80 | 1.10 | 328.20 | 304.80 |
| Marico | 710.95 | 1.80 | 722.30 | 692.00 |
| Nestle India | 1169.90 | 0.60 | 1182.10 | 1148.30 |
| Procter & Gamble Hygiene and Health Care | 14337.00 | 5.10 | 14656.30 | 13780.30 |
| Tata Consumer Products | 1137.50 | 1.70 | 1159.80 | 1118.00 |
| Varun Beverages | 443.45 | (-)0.30 | 449.70 | 434.40 |
| Nifty FMCG | 55170.60 | 0.60 | 55554.90 | 54486.80 |
| Nifty 50 | 24894.25 | 1.00 | 25006.10 | 24691.60 |
| S&P BSE Sensex | 81207.17 | 1.00 | 81638.70 | 80433.80 |
End
Reported by Simran Rede
Edited by Akul Nishant Akhoury
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