In India's sizzling bourses, consumer stocks rise 18% but are laggards thehindu.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindu.com Daily Mail and Mail on Sunday newspapers.
The yawning divide between the super-rich and middle-class in India's booming economy is set to persist, if the "underperformance" of consumer stocks in the raging stock market is anything to go by. Stock prices of consumer firms selling soap, hair oil and refrigerators are seeing double-digit gains but are still lagging benchmark Indian stock indexes as low income growth and volatile inflation hurt demand for everyday goods. Asia's third-largest economy is set for a 7.6% expansion in the financial year ending this month, but private consumption, which contributes 60% of economic growth, is expected to grow at just 3% - the slowest in two decades, excluding the COVID-19 pandemic years.
By Bharath Rajeswaran MUMBAI (Reuters) - The yawning divide between the super-rich and middle-class in India's booming economy is set to persist, if the "underperformance" of consumer stocks in the raging stock market is anything to go by. Stock pr.
Analysis-In India's Sizzling Stock Market, Consumer Stocks Rise 18% but Are Laggards usnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from usnews.com Daily Mail and Mail on Sunday newspapers.
Stock prices of consumer firms selling soap, hair oil and refrigerators are seeing double-digit gains but are still lagging benchmark Indian stock indexes as low income growth and volatile inflation hurt demand for everyday goods. Meanwhile, luxury goods are flying off the shelves.