After stepping down from the board with effect from September 30, he will remain as Chairman Emeritus of the FMCG firm, according to a statement issued on Wednesday. The 79-year-old industrialist passed on the baton of GCPL to his younger daughter Nisaba Godrej in 2017 after leading the company for 17 years.
HR guru Mayank Rautela provides a three-point plan.
Godrej Consumer Products Ltd is trying to make sure it does not overload shops with stocks. And Marico is teaching store owners to use computers.
The price hikes in the fast moving consumer goods category have increased the basket size
The earnings are, however, expected to be down around 2 per cent on a sequential basis due to pent-up demand getting exhausted and the adverse impact of rising metals and energy prices on consumer goods and manufacturing companies.
Steel, cement, aluminum, fertilisers, tractors, two-wheelers, beverages and carbonated drinks, tyres and FMCG could see demand back to near normal levels by the third or the fourth quarter of the financial year, or even earlier.
While consumer electronics, technology, mobile phones, auto and sports-wear categories dominate the top 20, FMCG has only one entry in the list
HCL Tech was the top gainer in the Sensex pack, rallying around 5 per cent, followed by Tech Mahindra, Infosys, PowerGrid, Sun Pharma, L&T and Nestle India. NSE Nifty climbed 137.90 points or 1.03 per cent to 13,466.30.
Titan was the top gainer in the Sensex pack, rising around 4 per cent, followed by HDFC, Nestle India, IndusInd Bank, UltraTech Cement and Bharti Airtel. On the other hand, Bajaj Auto, Tata Steel and NTPC were the laggards.
Samvat 2072: Auto sector could see faster recovery
With growing revenues, a spreading business empire, and surging aspirations, companies are seeing a strong demand for luxury products from Tier 2 and Tier 3 cities.
Relaunched and indigenous brands fare better in India.
Photo-messaging app Snapchat on Wednesday said its monthly user base has reached 100 million in the country, and the company will continue to anchor its efforts towards growing and providing more resources to its community of Indian creators. Snap Inc, the parent company of Snapchat, virtually hosted the second edition of 'Snap in India'. At the event, Snap co-founder and CEO Evan Spiegel announced the milestone of reaching 100 million Snapchatters monthly in India.
"This is historic that our maiden issue of Rs 250 crore NCD is fully subscribed within 3 minutes of opening of the issue... This shows the excitement and faith of investors, said Patanjali Ayurved Managing Director Acharya Balkrishna.
Starting with the third quarter of financial year 2020-21 (Q3FY21), we have seen "unlock" trades at various times. Whenever lockdowns have been eased, traders have taken long positions in consumer-facing businesses. Let's look at the logic. Since March 2020, sectors like retail, personal vehicles, hospitality, aviation, fast-moving consumer goods (FMCG), multiplexes, etc., have been under severe pressure. As a result, there's been a low base effect. Every company in these spaces has suffered top line contraction. Many suffered losses, especially in the first half of FY21.
In 2020, retail and e-commerce sector will lead the table and is expected to generate 112,000 jobs followed by IT & ITeS (105,500), FMCG (87,500), manufacturing (68,900), BFSI (59,700) and healthcare (98,300), the survey said.
Hiring activity in the country, which was hit by the second COVID wave, bounced back with a 15 per cent growth in June compared to May, according to a report. The activity was led by the IT-software/software services sector. The latest Naukri JobSpeak report on Thursday said that India's hiring trends grew 15 per cent in June with 2,359 job postings from 2,047 in May.
M&M was the top gainer in the Sensex pack, soaring over 10 per cent, followed by L&T, IndusInd Bank, Bajaj Finserv, SBI, Bajaj Finance, ICICI Bank and Kotak Bank. On the other hand, HUL, ITC, Titan TCS and Bharti Airtel were among the losers.
