The Nifty FMCG index gained 2% on Friday amid heavy buying seen Tata Global Beverages
, Godrej Consumer Products
, GlaxoSmithKline Consumer Healthcare
, and HUL
Shares of Tata Global Beverages and Godrej Consumer, which gained 7% and 5%, respectively, were leading the index’s gain.
Shares of Tata Global extended its gain for the third consecutive trading session
after Tata Group on Wednesday transferred all its branded food businesses to Tata Global Beverages Ltd (TGBL) from Tata Chemicals Ltd (TCL). TGBL will be renamed as Tata Consumer Products.
Shares of Dabur, GSK Consumer, and HUL also contributed to the index’s gain, rising 3% each. Shares of Britannia Industries
, Jubilant Foodworks
, Godrej Industries
, and Colgate Palmolive (India)
also gained 2% each.
Meanwhile, equity benchmark indices were trading in the green on Friday with the Sensex gaining 379 points at 37,772 levels. The Nifty gained 101 points at 11,358 levels, trading above its key level of 11,350.