FMCG Stocks Outlook
Seen rangebound next week due to lack of fresh triggers
This story was originally published at 19:00 IST on 21 November 2025
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MUMBAI – Fast-moving consumer goods stocks are expected to continue to remain stuck in a range next week as the sector lacks immediate triggers. Weak demand in the September quarter, with purchases being deferred ahead of the goods and services tax cut, also hurt the fundamentals of these stocks.
The September quarter earnings of most FMCG companies showed some improvement on year and a pick-up in consumer demand, but the transition to revised GST tax rates in September limited the improvement. High prices of raw materials such as palm oil and copra also dragged the September quarter earnings of the sector down. Coming on the heels of headwinds faced by the companies in the June quarter because of a shortened, less intense summer and the early onset of the monsoon, this has affected the outlook for the sector.
"Management commentaries (after the September earnings) pointed towards urban consumption picking up while rural remains stable," YES Securities said in a report. "While some GST transition-led impact was seen in October too, volume trend is expected to improve compared to 1H (Apr-Sept), led by festive demand, grammage increases, and normalisation of trade channel operation," it said.
Friday, the Nifty FMCG index closed 0.1% higher at 55504.70 points. On a weekly basis, the sectoral index fell 0.1%, against a 0.6% rise in the benchmark Nifty 50. The sectoral index is expected to face resistance at 55800 points and find support of 55200 points.
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Following are the resistance and support levels for key FMCG stocks for next week, as per calculations based on their prices on the National Stock Exchange:
| Company | Price | Week-on-week change in % |
Resistance | Support |
| AWL Agri Business | 274.10 | (-)0.00 | 290.90 | 258.00 |
| Britannia Industries | 5,813.00 | 0.20 | 5,901.30 | 5,720.30 |
| Colgate Palmolive (India) | 2,180.60 | 0.40 | 2,208.60 | 2,153.40 |
| Dabur India | 515.65 | (-)1.80 | 529.10 | 507.60 |
| Emami | 513.30 | (-)1.40 | 526.30 | 505.50 |
| Godrej Consumer Products | 1,125.20 | (-)1.90 | 1,138.90 | 1,107.10 |
| Hindustan Unilever | 2,433.70 | 0.30 | 2,460.20 | 2,399.80 |
| ITC | 407.85 | (-)0.10 | 410.80 | 403.20 |
| Jyothy Labs | 309.80 | (-)0.30 | 312.80 | 306.00 |
| Marico | 739.90 | 0.20 | 748.60 | 728.60 |
| Nestle India | 1,280.70 | 0.70 | 1,296.80 | 1,265.00 |
| Procter & Gamble Hygiene and Health Care | 12,850.00 | (-)1.40 | 13,168.00 | 12,652.00 |
| Tata Consumer Products | 1,183.10 | 2.20 | 1,202.00 | 1,153.00 |
| Varun Beverages | 447.65 | (-)2.60 | 453.90 | 441.70 |
| Nifty FMCG | 55504.70 | (-)0.10 | 55814.50 | 55085.70 |
| Nifty 50 | 26068.15 | 0.60 | 26226.90 | 25972.90 |
| S&P BSE Sensex | 85231.92 | 0.80 | 85764.60 | 84921.50 |
End
US$1 = INR 89.4800
Reported by Simran Rede
Edited by Rajeev Pai
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