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A weaker-than-expected sales performance, concerns about higher competitive intensity in the current year, and earning cuts by some brokerages have weighed on the stock of the country s largest paint maker, Asian Paints.
While the Q3 volume show was slightly below expectations, the company s operational and bottom line beat estimates, benefiting from the falling raw material costs.
The stock ended the day with a decline of over 2 per cent at Rs 3,175 apiece.
Even as the near-term outlook for the quick service restaurant (QSR) industry remains muted, brokerages are positive about the prospects of Sapphire Foods India.
Their preference for the QSR chain comes on the back of the steady performance of Kentucky Fried Chicken (KFC), superior execution and reasonable valuations.
The Sapphire Foods stock is up 11 per cent since the start of November.
From its lows in December, the stock of Tata Motors is up about 15 per cent.
The gains came on the back of better than expected December volumes in its UK-based subsidiary Jaguar Land Rover (JLR).
This coupled with gradual recovery in the global passenger vehicle demand, improving profitability due to product mix and lower commodity costs are expected to be key positives for the company.
The stock of Godrej Consumer Products Limited (GCPL) fell about 3.7 per cent in trade after its Q3FY24 earnings disappointed brokerages and led to downgrades.
Further, the stock, after a 15 per cent run-up over the past month prior to Monday s correction, had already factored in the upside from the business front.
Its peer in the consumer space, Marico, too, saw a 4 per cent drop in its stock price.