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Stocks of fast moving consumer goods companies are seen taking cues from earnings of behemoth Hindustan Unilever and Godrej Consumer Products that are scheduled to detail their Jan-Mar earnings on Monday. FMCG stocks have significantly underperformed the benchmark indices over the last week on forecast of a poor monsoon. For the week ended Apr 25, the BSE FMCG index ended down 2.5%, while the Sensex closed up 0.3%.
The India Meteorological Department on Thursday made its first forecast for the 2014 southwest monsoon, saying rains would be 95% of the long period average, with a model error margin of 5%. FMCG companies that are scheduled to detail their earnings this week are seen reporting modest profit growth.
Stocks of fast moving consumer goods companies are seen taking cues from earnings of behemoth Hindustan Unilever and Godrej Consumer Products that are scheduled to detail their Jan-Mar earnings on Monday. FMCG stocks have significantly underperformed the benchmark indices over the last week on forecast of a poor monsoon. For the week ended Apr 25, the BSE FMCG index ended down 2.5%, while the Sensex closed up 0.3%.
The India Meteorological Department on Thursday made its first forecast for the 2014 southwest monsoon, saying rains would be 95% of the long period average, with a model error margin of 5%. FMCG companies that are scheduled to detail their earnings this week are seen reporting modest profit growth.
