FMCG companies reported muted performance in Q3FY24 due to sluggish rural demand and increased competitive intensity, affecting overall volume growth. Amid this environment, let s analyse between ITC and Hindustan Unilever (HUL), which stock has better long-term investment opportunities.
If the uptrend in the broad market were to resume, private banks stand the most to gain, with the Nifty private bank index having closed above 20-day SMA for the first time since 16th January.
The aggregate earnings of the companies in the MOFSL universe exceeded expectations and rose 29% year-on-year (YoY) versus an estimated 19%. Earnings for the Nifty-50 jumped 17% YoY versus an estimated 11%.
ITC shares, which stood at Rs 213.95 on February 25, 2022 ended at Rs 473.95 on January 5 this year, more than doubling investor wealth during the period.