FMCG Stocks Outlook for the week – 29.02.2016 to 04.03.2016
(Seen
in range with positive bias, Budget eyed)
( www.rupeedesk.in )
Shares
of fast-moving consumer goods companies are expected to
trade
in range with a positive bias, as the government is likely to
announce
some incentives for rural India in the Union Budget for 2016-
17
(Apr-Mar). The government will announce the Budget in Parliament
on
Monday. However, concerns remain over the likelihood of the
government
hiking excise duty on cigarettes, which will not augur well
for
sector major ITC Ltd.
During
the week, despite rebounding in today's trade, ITC shares closed
down
4.5%. Nifty FMCG concluded week on a dismal note. Stocks like
HINDUNIVR
(Hindustan Unilever Ltd) and MARICO (Ltd) performed
well,
though pressure in FMCG major ITC resisted index to close on
positive
note. Religare continues to prefer shares of Britannia Industries
Ltd
and Marico.
