Higher inflation and lower purchasing by consumers, it seems, has taken a bite out of consumption-related stocks at the bourses, with most counters losing ground in the last few months
The rural markets have outpaced urban demand, registering a 7.6 per cent increase compared to a 5.7 percent rise in urban areas, in the March quarter of FY24
According to analysts, the company's revenue and profit for the quarter under review may remain little changed as demand trends remain muted
However, the counter has lost over 5 per cent from its recent high of Rs 346.25 hit on September 23, 2022 and has underperformed the S&P BSE Sensex, which has lost nearly 2 per cent since then
Though ITC is well-covered by consensus, whether it is well-understood has always remained a question, analysts believe
In the FMCG basket, Britannia, Colgate Palmolive, HUL are on the shopping list of A K Prabhakar, head of research at IDBI Capital
Despite headwinds, the firms posted strong Q2 numbers in their FMCG businesses