Nifty FMCG trades higher with Marico leads gain; Nestle drags

Dabur India and Jubilant Foodworks continued the winning streak. Britannia Industries stock was subdued ahead of quarterly earnings.

Jul 30, 2021 02:07 IST India Infoline News Service

Nifty FMCG stocks traded higher as Marico, Dabur, and Jubilant Foodworks continued the winning streak. Britannia Industries stock was subdued ahead of quarterly earnings while Nestle India and Colgate Palmolive dragged post quarterly earnings.

Asian stocks were trading mostly lower on Friday amid escalating coronavirus concerns. The domestic indices however rose however on bullish Pharma, Auto, IT, Media, Realty, and FMCG stocks.

At around 2.10 PM, BSE Sensex was trading at 52,879.70 up 226.63 points or 0.43% and Nifty 50 at 15,853.00 up 74.55 points or 0.47%. Nifty FMCG was trading at 36,168.55 up 178.50 points or 0.50%, touching a high of 36,246.10 and low of 35,859.90 during intraday trade on Friday.

Marico rose 3.05% at Rs543.95 per piece to emerge the top gainer in the sector, Dabur advanced 2.5% at Rs599.00 per piece while Jubilant Foodworks was also up nearly 2% at Rs3,793.00 per piece. 

United Spirits gained 1.4% while Tata Consumer and UBL were around 1.2% higher. Godrej Consumer was 0.9% higher while Varun Beverages (up 0.72%) also continued gaining spree. Hindustan Unilever and ITC also traded in the green.

Britannia Industries stock was marginally higher at Rs3,410.00 per piece ahead off quarterly results on Friday.

Nestle India Ltd shed 1.1% at Rs17,720.10 per piece. The FMCG major reported 13.97% growth yoy in total sales revenues for the Jun-21 quarter on consolidated basis at Rs3,477cr. On a sequential basis, the revenues were down -3.71% compared to Rs3,611cr in the Mar-21 quarter showing some COVID impact.

Colgate Palmolive Ltd also dropped around 0.9% at Rs1,694.85 per piece. The company reported 12.05% growth yoy in total sales revenues for the Jun-21 quarter on consolidated basis at Rs1,165.97cr. On a sequential basis, the revenues were down -9.14% compared to Rs1,283.19cr in the Mar-21 quarter. The sequential fall was largely attributed to the impact of COVID 2.0, which hit demand and supply lines.

Emami and Procter & Gamble Hygiene also traded lower, as out of 15 stocks the Nifty FMCG Index had 11 advances and 4 declines. 

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