FMCG shares under pressure; HUL, Godrej Consumer, Nestle slide up to 4%
Despite the correction, analysts at HDFC Securities expects more valuation risks in the next few years
Shares of fast moving consumer goods (FMCG) companies were under pressure with most of the frontline stocks down up to 4 per cent on growth concerns. Hindustan Unilever
Godrej Consumer Products, Marico, Nestle India, Britannia Industries and Dabur India slipped between 2 per cent and 4 per cent on the BSE in Tuesday’s intra-day trade.
At 12:13 pm; the S&P BSE FMCG index was down 1.8 per cent at 13,064 points, as compared to 0.48 per cent decline in the S&P BSE Sensex
So far this year, the FMCG index has shed 5 per cent, as against 2 per cent fall recorded by the benchmark index.