Nifty FMCG slides down nearly 1%; Dabur India sheds ~4% post quarterly earnings

Godrej Consumer shed 2%. Varun Beverages was the only company in the sector marginally in the green.

Aug 04, 2021 01:08 IST India Infoline News Service

Bear Market
The Nifty FMCG index dropped to the bottom on Wednesday after leading the markets on Tuesday. The sector shed ~1% with all the listed companies on Nifty FMCG which is trading lower with exception of Varun Beverages. Dabur India led the gloomy picture in the sector by sinking ~4% post Q1 earnings.

The markets led by banking and financial services were bullish but other sectors struggled with FMCG emerging the top bear. At around 1.10 pm, BSE Sensex was trading at 54,252.83 up 429.47 points or 0.80% and Nifty50 at 16,225.20 up 94.45 points or 0.59%.

Nifty FMCG was trading at 36,504.00 down 322.05 points or 0.87%, touching a high of 36,935.65 and low of 36,429.40 during intraday trade on Wednesday.

Dabur India Limited was at the bottom of the sector at Rs591.55 per piece, down 3.7%. The company's net profit surged 28% yoy at Rs437cr; Volume growth at 34.4%.

Godrej Consumer shed 2% at Rs996.90 per piece. Jubilant Foodworks also dropped 1.6% at Rs3,725.00 per piece. Unined Spirits, Marico and Tata Consumer declined between 1.5% - 1.3%. 

Nestle India was down ~1.1% at Rs18,090.05 per piece. Britannia Industries was 0.7% on the downside at Rs3,547.70 per piece. ITC also dropped nearly 0.7%.

Emami was 0.65% down at Rs560.00 per piece. The company's Q1 net profit was 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. 

Procter & Gamble Hygiene and Colgate Plamolive tarded 0.6% lower each. UBL also lost 0.5%. 

Hindustan Unilever also traded 0.36% lower at Rs2,378.20 per piece. 

Varun Beverages was the only company in the sector marginally in the green at Rs789.50 per piece, up 0.11%. The company's profit was up 119% at Rs308.17cr in Q2.

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