Nifty FMCG index surges 1%; UBL, Britannia, Nestle, HUL among top gainers

Godrej Consumer also gained over 1%. Emami was under pressure post quarterly earnings.

Aug 03, 2021 01:08 IST India Infoline News Service

Bull-stock
Nifty FMCG surged over 1% and was among top bulls on Tuesday lifting broader markets despite mixed global cues. United Breweries led the charge while heavyweights Britannia Industries, Hindustan Unilever and Nestle India also outperformed to boost the sector. Emami was under pressure post quarterly earnings.

Except for media and metal stocks, all other sectoral indices were bullish. Nifty 50 has hit a new 52-week high of 16,025, while Sensex touched a new 52-week high of 53478.57.

At around 1.15 pm, BSE Sensex was trading at 53,524.34 up 573.71 points or 1.08% and Nifty50 at 16,038.40 up 153.25 points or 0.96%.

Nifty FMCG was trading at 36,564.65 up 364.70 points or 1.01%, after touching a high of 36,627.85 and low of 36,196.30 during intraday trade.

UBL led the gains at Rs1,478.55 per piece, up 2.63%. Britannia continued to move upwards post quarterly earnings. The company stock was selling 1.63% higher at Rs3,561.95 per piece. The FMCG major has recorded a 29% decline in consolidated profit of Rs387cr from a profit of Rs543cr in the corresponding period of the previous year. In the quarter under review, Britannia's total income of Rs3,464cr was lower from Rs3,514cr in the same period last year.

Hindustan Unilever surged 1.5% at Rs2,368.00 per piece to lift performance while Nestle India gained 1.3% at Rs17,941.95 per piece. Godrej Consumer also advanced 1.2%. Marico and ITC were also around 0.9% higher each. Jubilant Foodworks and Tata Consumer gained over 0.5%. 

Varun Beverages was ~0.3% higher after emerging the top gainer on the index on Monday post quarterly earnings. The company's consolidated net profit for June ended quarter 2021, rises two-folds to Rs318.80cr from Rs142.87cr a year ago same period. United Spirits and Dabur were also amrginally higher.
Emami Ltd shed 0.3% at Rs568.00 per piece. The company's Q1 net profit up 96.44% at Rs77.79cr on inventory efficiency gains and lower interest costs. It reported 37.31% rise in total sales revenues for the Jun-21 quarter on consolidated basis at Rs660.95cr.

Colgate Palmolive and Procter & Gamble Hygiene also were 0.17% lower each. 

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