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Some brokerages have downgraded its ratings, and this was accompanied by earnings revision by as much as 18 per cent.
Given the multiple concerns, the stock of the pizza market leader in the organised quick service restaurant segment slipped 4.3 per cent to Rs 505.9.
The company reported a 4.5 per cent growth in revenues over the year ago quarter and the growth was led by opening of new stores even as like-for-like growth remained weak falling 1.3 per cent.
While the four largest listed paint companies have seen marginal negative returns, the S&P BSE Fast Moving Consumer Goods (FMCG) and the National Stock Exchange Nifty FMCG indices have delivered a solid 16 per cent return during the same period.
Initially, volume growth and reduced costs bolstered the sector s sentiment, but brokerages have grown cautious due to increased competitive pressures.
In the near term, if crude oil prices stay high, it could drive up costs and hurt the sector’s profitability outlook. In a competitive landscape where companies are often pushed to give out rebates and discounts, this is bad news.