The stake sale in ITC is good news also because BAT is now unlikely to sell more shares in near future for it doesn t want its shareholding in ITC to fall below 25%. BAT s ownership in ITC has now fallen to 25.5% from 29% earlier.
“Recently, large-cap stocks have experienced robust buying, including large-cap auto, banking, and IT stocks. Despite this, strong profit booking in small-cap stocks has contributed to underperformance in the small-cap index compared to the Nifty.”
Subdued demand both in domestic and export markets, competition from low priced Chinese supplies in global markets, sharp reduction in global pulp prices and high-base effect impacted its performance. Lower realisations and increase in input costs impacted the segment s profitability.
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ETMarkets Investors Guide (ET Online) Do consumer stocks remain the best defensive bets for investors?
14:38 Min | May 09, 2021, 11:25 AM IST
As soon as the second wave of Covid hit us, the market s attention naturally shifted to defensives like IT, pharma and FMCG stocks. But while IT and pharma outperformed the market, FMCG has lagged behind and even eroded 2 per cent of investor wealth in the last one month. In today s special podcast with independent market expert Rajiv Nagpal, we put consumer stocks under the lens to understand why the market is punishing these traditional defensives this time around. Listen in.