December quarter typically is a seasonally strong quarter marked with festivals and the onset of winter. However, this time it was characterised by uneven monsoon, delayed winter and slow growth in demand for mass products compared with the premium end of the shopping basket.
HUL s management said that the FMCG sector is likely to see a gradual recovery with tailwinds from the festive season, sustained buoyancy of services, and centre’s thrust on capex
Federal Bank was mutual funds' biggest bet in value terms. Domestic fund managers bought increased their holdings in Federal Bank by 12.32 crore (worth Rs 1,670 crore) to 81.59 crore shares in July.