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The stock of fast-moving consumer goods major Tata Consumer Products has been reaching new all-time highs on better-than-expected results for the July-September quarter (second quarter, or Q2), strong growth in the food business, and margin gains in the beverage/international business.
Most brokerages are positive on the stock, given growth prospects, and believe that rich valuations are justified.
The near-term trigger has been the robust operational performance in Q2. ....
After underperforming its peers in the consumer space in 2022-23, and experiencing a mixed bag in the 2023-24 (FY24) April-June quarter (first quarter, or Q1), brokerages are positive about the medium-term outlook for liquor stocks.
Higher raw material costs, concerns regarding increased duties, regulatory changes, and competitive pressures weighed on performance returns in the past quarters.
Analysts believe that the sector could experience a reversal of fortunes due to better demand and margin improvements. ....
P&G Hygiene and Healthcare s June quarter numbers were better than Street estimates, led by strong sales and robust margins.
The company, which owns leading consumer brands like Whisper, Vicks and Old Spice, posted a 12.6 per cent year-on-year (Y-o-Y) growth in sales at Rs 852.5 crore during the quarter.
The double digit sales growth, led by expansion of its distribution reach, reverses a sluggish sales graph with three of the last four quarters reporting a fall in sales. ....
Stocks of alcoholic beverage makers have corrected over the last few trading sessions on worries that taxes, competition and costs will hurt sales and profitability.
The recent trigger for the decline is Karnataka, which accounts for 15 per cent of overall liquor consumption, increasing duties.
The state increased by 20 per cent the additional excise duty on Indian-made foreign liquor (IMFL) on all slabs. ....