Nifty FMCG extends winning streak; Heavyweights Britannia, Tata Consumer, Dabur drive the index

Dabur India and Emami also gained over 1% while Nestle India was under pressure.

Jun 08, 2021 12:06 IST India Infoline News Service

Nifty FMCG stocks continued the winnings streak to surge over 180 points during Tuesday’s trade. The Index after a bullish start to the week on Monday advanced amid overall bearish markets. 

The gains were led by heavyweights Britannia Industries and Tata Consumer Products. Nestle India was under pressure.

At around 12.45 pm, Nifty FMCG was trading at 35,561.85 up 186.50 points or 0.53%, after hitting a high of 35,575.40 during intraday trade on Tuesday. BSE Sensex was trading at 52,240.82 down 87.69 points or 0.17% and Nifty50 at 15,723.20 down 28.45 points or 0.18%.

Britannia Industries surged 2.18% at Rs3,619.90 per piece on Tuesday. The FMCG major last week said its board has approved a proposal to raise Rs698.51cr by issuing bonus debentures to eligible equity shareholders.

Tata Consumer was 1.8% higher at Rs712.50 per piece. The Tata Group firm reportedly has entered the premium roast and ground coffee segment with the launch of 'Sonnets By Tata Coffee'.

Dabur India at Rs555.80 per piece (up 1.33%) and Emami at Rs541.05 per piece (up 1.17%) also gained over 1%.

Unired Breweries, Jubilant Foodworks, Godrej Consumer and Varun Beverages also made gains. ITC, HUL, United Spirits and Procter & Gamble Hygiene also traded higher on Tuesday.

Nestle India shed 0.53% at Rs17,440.00 per piece to emerge the biggest laggard. Colgate Plamolive was down 0.47% while Marico dropped 0.27%.

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