Latest News
-
Rs 55/Share Dividend Announced: Multibagger Refineries PSU Declares 72% Jump In Q4 Profit -
PayU Gets RBI's In-principle Nod To Operate As Payment Aggregator -
Rekha Jhunjhunwala Portfolio Stock Jubilant Ingrevia Hits Record High; More Upside Ahead? -
Gold Prices: 10 Grams Of 22-24 Carats Rise By Rs 9,500 To Rs 10,600 From 2024 Lows; Strategy For Buying -
JNK India IPO: Retail Investors Lead With Subscriptions On Day 2; GMP Hints Premium Listing; Check Status -
Rs 60 Dividend: Multibagger Small Cap Power Stock To Consider Dividend Again On May 2 -
40000% Returns In 10 Years: This Microcap Dividend Paying Multibagger Stock Acquires Square Port Shipyard -
Gold Prices India: 10 Grams Of 22K Yellow Metal Jumps After Falling By Rs 2000 -
New Safety Check System for Cooking Gas Connections Rolled Out Amidst Delivery Boy Grievances; Reports -
Okay Play India Posts 12.79% Revenue Growth In Q4 After 1:10 Stock Split Approval
FMCG stocks crash ahead of expiry
The S&P FMCG index was down more then 2 per cent in trade. Shares of ITC were the worst hit and the stock was down 3%, while Hindustan Unilever was down more then 1% and Colgate crashed almost 3%.
Among the other stocks that lost ground from the sector were Dabur and Godrej Consumer.
FMCG stocks have been the darling of foreign institutional investors (FIIs) in the last few months, as investors have looked to hide in defensives. FIIs have been buying these stocks as they tend to perform relatively better even in weak economic conditions.
However, analysts have warned that stocks from the sector are heavily over priced, making them vulnerable to more downside. Investors have been willing to pay significantly higher price to earnings and price to book value multiples for these stocks.
Shares of Hindustan Unilever fell earlier this week as investors worried over volume growth at the company.
GoodReturns.in
