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Stocks of fast-moving consumer goods companies are likely to remain muted in the week ahead, after a stellar performance this week. The BSE FMCG Index gained 6% this week against a meager 0.5% gain in the Sensex. It was positive sentiment and some good news on certain companies like ITC that drove up prices of FMCG stocks. In the week ahead, sentiment will fade and ground realities will come into play; stocks of most FMCG players will consolidate for some time now.
India's largest tobacco company ITC said it has raised prices of Gold Flake Filter and Gold Flake Premium Filter cigarettes by 4 rupees and 3 rupees, respectively, for a pack of 10 cigarettes. This is the second hike in cigarette prices by the Kolkata-based company in the current financial year. This week, Unilever Plc's open offer to acquire shares in its Indian arm Hindustan Unilever ended on Thursday. Unilever acquired 319.7 mln shares of Hindustan Unilever against 487.0 mln shares it had sought in the open offer.
Stocks of fast-moving consumer goods companies are likely to remain muted in the week ahead, after a stellar performance this week. The BSE FMCG Index gained 6% this week against a meager 0.5% gain in the Sensex. It was positive sentiment and some good news on certain companies like ITC that drove up prices of FMCG stocks. In the week ahead, sentiment will fade and ground realities will come into play; stocks of most FMCG players will consolidate for some time now.
India's largest tobacco company ITC said it has raised prices of Gold Flake Filter and Gold Flake Premium Filter cigarettes by 4 rupees and 3 rupees, respectively, for a pack of 10 cigarettes. This is the second hike in cigarette prices by the Kolkata-based company in the current financial year. This week, Unilever Plc's open offer to acquire shares in its Indian arm Hindustan Unilever ended on Thursday. Unilever acquired 319.7 mln shares of Hindustan Unilever against 487.0 mln shares it had sought in the open offer.
