Angshu Mallick, CEO, Adani Wilmar poses with the company's Fortune range of products. The imposition of a 5 percent goods and services tax (GST) on pre-packed labelled food items may have fanned fears of higher inflation but Adani Wilmar CEO and MD Angshu Mallick thinks the move bodes well for FMCG companies. The GST Council in July agreed on a 5 percent tax on single packages of food items like cereals, pulses, flour and paneer weighing up to 25 kg. “Over the last few years, the regulation under which branded players had to pay 5 percent GST while unbranded players were exempt created a lot of confusion. 5 percent is a significant amount when we are talking about packaged rice which is being sold at Rs 30 or even wheat flour,” the CEO told Moneycontrol on the sidelines of first-quarter results. According to Mallick, the move would create a level-playing field between the branded and unbranded players and propel consumers towards branded products in packaged staples. … [Read more...] about GST on unbranded food will create level-playing field for FMCG companies: Angshu Mallick of Adani Wilmar
ITC has exited the lifestyle retailing business after a strategic review of the company's portfolio, the FMCG major said on August 2. In July, ITC chairman Sanjiv Puri said in an interview to the Times of India that the diversified conglomerate was likely to quit the lifestyle business after a two-decade stint. ITC’s lifestyle retail brand Wills Lifestyle had been in the process of “descaling”, the chairman said. The company had previously exited John Players by divesting the trademark. "Following a strategic review of the business portfolio a few years ago, our company has restructured the Lifestyle Retailing Business during the year,” Puri said in the company's annual report for FY22 on June 22. “At the same time, the product portfolio has been strengthened in alignment with new opportunities and enterprise strengths with a sharper focus on fortifying the core, addressing adjacencies through world-class mother brands, and building categories of the future to power … [Read more...] about ITC exits lifestyle retailing business
Marico: Marico says India business volumes decline in mid-single digits. India business volumes in Q1FY23 declined in mid-single digits, particularly dragged by a sharp drop in Saffola Oils, while Parachute coconut oil recorded a minor volume decline. Value added hair oils grew in low single digits in value terms despite weak consumption sentiment, especially in rural. The International business maintained its strong momentum, delivering high-teen constant currency growth. Consolidated revenue in the quarter ended June 2022 was marginally higher on a year-on-year basis. FMCG firm Marico Ltd on Saturday reported a 3.28 per cent increase in its consolidated net profit to Rs 377 crore for the first quarter ended June. The company had posted a net profit of Rs 365 crore in the April-June period a year ago, Marico said in a BSE filing. Its revenue from operations rose marginally by 1.3 per cent to Rs 2,558 crore, as against Rs 2,525 crore in the corresponding quarter of the … [Read more...] about Marico Q1 net profit rises 3% to Rs 377 crore; sales up 1.3% to Rs 2,558 crore
After making a bottom in June, the mood of the market has significantly changed in the last month and a half, and pushed the benchmark indices to a more than three-month high. A rally of about 14 percent in the market may indicate that the concerns of the past few months seem to have abated. A slowing US economy got the Federal Reserve to soften its commentary at its July policy meeting, and global markets heaved a sigh of relief. In India, foreign institutional investors (FIIs) turned buyers after a long period of selling, with most corporate earnings either meeting analysts’ expectations or beating them, even as the Indian rupee came off its record lows and oil prices cooled, all of which gave legs to the rally. After crossing the 200-day exponential moving average (16,520), the market moved back for a couple of days but got major strength on July 27 with the formation of a Bullish Engulfing pattern. Since then it has been in an uptrend and crossed the much awaited 200-day … [Read more...] about More than 40% stocks in NSE500 back above 200 DMA now. Is the market turning stronger?
Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × It was yet another weak session for the market as participants maintained caution on Tuesday ahead of the major global event of the Federal Reserve policy meeting. The BSE Sensex fell nearly 500 points to 55,268 and the Nifty50 closed below 200 days exponential moving average (16,520), falling nearly 150 points to 16,484. All sectors witnessed selling pressure. Nifty IT was the biggest loser, down nearly 3 percent, followed by Auto, FMCG, Pharma and Realty indices which fell more than 1 percent each. The broader markets also joined bears' party as the Nifty Midcap 100 and Smallcap 100 indices were down 1.25 percent and 1.5 percent respectively on weak breadth. About three shares declined for every advancing share on the NSE. The volatility index India VIX increased further, up 2.77 … [Read more...] about Trade Spotlight | What should you do with Delta Corp, Bajaj Finserv, Sun TV Network on Wednesday?
Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × The market remained volatile for the major part of the session and settled with moderate gains on Tuesday after a sharp rally in the previous four consecutive sessions. The benchmark indices continued the uptrend for the fifth straight day, driven by select banks, auto and FMCG stocks, whereas the selling was seen in technology, select financial services, and metal stocks. The BSE Sensex gained 21 points to close at 58,136, while the Nifty50 rose 5.5 points to 17,345 and formed a bullish candle which somewhat resembles Doji kind of indecisive formation on the daily charts. We have seen consistent outperformance in the broader space over benchmarks on positive breadth. The Nifty Midcap 100 index gained third of a percent and Smallcap 100 index rose seven-tenth of a percent as about five … [Read more...] about Trade Spotlight | What should you do with Nazara Technologies, Indigo Paints, Yes Bank on Wednesday?
PRO Only Highlights - Quarterly performance largely backed by improved realisations - Medium-term triggers China plus and protectionist measures for tyre industry - Valuations not inexpensive; but improved medium-term outlook The Q1FY23 results of Godrej Consumer Products (GCPL; CMP: Rs 854; Market capitalisation: Rs 87359 crore) were in line with Street expectations. On a 3-year CAGR (compounded annual growth rate), consolidated volumes grew by 3 percent and India volumes grew by 4 percent. India (57 percent of consolidated revenues) grew by 12 percent mainly due to pricing, while volume saw a decline of 6 percent year on year (YoY). Personal care grew by 25 percent, while home care declined by... … [Read more...] about Godrej Consumer Products: Largely pricing-led growth