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Nifty FMCG nosedives over 400 pts with all stocks in deep red; Emami, Dabur, ITC, Nestle, Colgate drag

The index has hovered between an intraday high and low of 38,849.45 and 38,028.50 respectively.

October 25, 2021 2:42 IST | India Infoline News Service
Ahead of major Q2 earnings, the Nifty FMCG index was trading in deep red due to broad-based selloff across listed stocks. The index has hovered between an intraday high and low of 38,849.45 and 38,028.50 respectively. All stocks listed on the index were trading lower with heavyweights weighing most.

At around 2.41 pm, Nifty FMCG was trading at 38,466.90 lower by 407.90 points or 1.05%.

Emami was the top bear on the index plunging nearly 4% followed by Radico and Dabur tumbling more than 2% each.

Colgate-Palmolive and Godrej Consumer Products dipped 1.9% each.

Colgate has announced its Q2 earnings today where the company posted a net profit of Rs269.2cr contracting marginally by 1.8% yoy. On the top-line front, the company's sales increased 5.2% yoy to Rs1,344cr in the quarter under review.

Nestle shed 1.6%, while Britannia, ITC, Nestle, Marico and Varun Beverages dropped more than 1% each.

ITC is set to announce its Q2 on October 27, while Marico and Emami's results are scheduled on October 28 and October 29. Dabur is set to announce its Q2 earnings on November 02, 2021.

Tata Consumer and Mcdowell shed 0.9% and 0.7%. HUL, United Breweries and PGHH were marginally down.

Tata Consumer Products garnered a 4.2% yoy increase in consolidated net profit (attributable to owners) to Rs268cr during Q2. While the Group's net profit grew by 5% yoy to Rs286cr in the quarter under review. Meanwhile, the company posted a consolidated revenue from operations to Rs3,033cr increasing by 9% yoy during the quarter under review.

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