Thirteen FMCG stocks rose by 0.14% to 6.22% at 13:53 IST on BSE as a bountiful rainfall this year has prepared the ground for bumper harvest.
Britannia Industries (up 6.22%), Hindustan Unilever (up 5.49%), Dabur India (up 4.94%), Colgate-Palmolive (India) (up 3.41%), Tata Global Beverages (up 3.38%), Jyothy Laboratories (up 2.69%), ITC (up 2.51%), Procter & Gamble Hygiene & Healthcare (up 2.4%), Marico (up 1.48%), Nestle India (up 1.41%), Bajaj Corp (up 1.18%), Godrej Consumer Products (up 1.03%) and GlaxoSmithKline Consumer Healthcare (up 0.14%), edged higher.
Dabur India hit a record high of Rs 167.55 in intraday today, 17 July 2013.
ITC hit a record high of Rs 370.20 in intraday today, 17 July 2013.
Nestle India hit a record high of Rs 5,795 in intraday today, 17 July 2013.
Hindustan Unilever hit a record high of Rs 670.30 in intraday today, 17 July 2013. The company's parent Unilever PLC on 11 July 2013 said that pursuant to the voluntary open offer to increase its stake in HUL, the shareholders of HUL tendered a total of 31.99 crore shares, out of which 31.95 crore shares have been accepted by Unilever PLC on completion of the verification of the shares tendered. Based on the shares tendered which represent 14.78% of HUL, the Unilever Group will increase its stake in HUL from 52.48% to 67.26%.
The offer of Rs 600 per share values the transaction at approximately Rs 19174 crore, Unilever PLC said. The payment for shares accepted will be completed on or before 18 July 2013, at which point Unilever PLC will acquire full beneficial ownership of the shares accepted in the open offer.
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The BSE FMCG index was up 2.72% at 7,352.79. It outperformed the Sensex, which was up 0.30% at 19,910.80.
The BSE FMCG index had outperformed the market over the past one month till 16 July 2013, rising 8.76% compared with the Sensex's 3.51% rise. The index had outperformed the market in past one quarter, rising 19.35% as against Sensex's 5.90% rise.
India's monsoon is so far progressing well across the country and if the rains continue as expected, this could boost rural Indians' income. FMCG companies derive substantial revenue from rural India.
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