While Anand Rathi and Share Khan see minor growth in PAT in the final quarter of FY24, Axis Securities sees a 2.6% drop in the net profit over the corresponding period of the last financial year.
FMCG companies reported muted performance in Q3FY24 due to sluggish rural demand and increased competitive intensity, affecting overall volume growth. Amid this environment, let s analyse between ITC and Hindustan Unilever (HUL), which stock has better long-term investment opportunities.
Nifty 50 reaches new record high amidst bullish sentiment. Optimism remains despite widening valuation gap. Market volatility expected globally due to national elections. Kotak Mahindra Bank, HDFC Bank, and HUL struggle post weak Q3 results.
The Nifty 50 index, representing the top 50 blue-chip companies, has seen a significant downturn primarily driven by selling in banking stocks. Foreign portfolio investors have been actively selling, withdrawing over ₹28,000 crore from Indian markets.
HUL target price: There appears to be a risk that FY25E EPS growth could also be muted, said Nirmal Bang. It cut the HUL target to Rs 2,670 from Rs 2,700 earlier, as it rolled forward its estimates to value HUL at 50x December 25 EPS.