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Sometimes a rationale which goes against owning a set of stocks at the start of a bull run, comes in handy in the case of a correction in stock markets. There is one sector where business updates from companies talk in the common lingo. First one is: growth will be muted. Second, margins will be under pressure due to cost inflation and third, competition is increasing in different categories. The sector is FMCG where the narrative is that it is a bad time to buy FMCG stocks. Probably, it is time to take a contrarian call in this sector. ....
Volume projections too, failed to impress. Godrej Consumer Products’ volumes are set to grow in high-single digits in Q3FY24, while Marico’s volumes are expected to grow in low-single digits. ....
Marico s Q3 FY24 domestic volumes grew in low single digits on a year-on-year basis, with low single-digit volume growth in Parachute Coconut Oil and Saffola Edible Oils, along with low single-digit value growth in Value Added Hair Oils. ....
Short-term traders can look to buy the stock now or marginal dips for a possible target around Rs 1,050 levels in the next 2-3 weeks, suggest experts. After creating a strong base in March 2023, the stock has been making higher lows for the past nine months. The momentum pushed the stock to a fresh record high last week. ....