The Nifty FMCG index was trading slightly higher (up 0.4%) on Friday in a rangebound market.
Shares of Emami
were up 3% and led the gains on the index while those of ITC
were also trading 1% higher each. Jubilant Foodworks
and United Spirits
were also trading in the green.
On the flip side, Marico
, Godrej Consumer Products
, and Hindustan Unilever
were trading in the negative zone.
Shares of ITC gained 1% after global brokerage house CLSA maintained its "Buy" call on the stock and raised its price target to Rs400 from Rs390 earlier after taxes on tobacco were left unchanged.
Shares of Eveready Industries India
soared 14% on the BSE in morning trade after a media report said that BM Khaitan's Williamson Magor is planning to sell its stake
in the company.
Meanwhile, equity benchmark indices were trading lower with the Sensex
down 67 points at 36,039 and the Nifty
down 15 points at 10,803.