Bengaluru dominated as the country's top city for job opportunities and salary growth as it has registered a 9.3 per cent year-on-year increase, closely followed by Chennai and Delhi, a report said on Thursday. This growth underlines Bengaluru's reputation as a technology and business hub as the average monthly unified salary in the city stood at Rs 29,500, making it the highest-paying city in the country, according to TeamLease Services Jobs and Salaries Primer report for FY24. The report is based on an analysis of unified salaries across temporary and permanent hiring markets.
'Domestic investors are opening up to the idea of high-growth Internet companies as a pool of value creation.' 'They like the execution that they see with Zepto, and for us, that is the most important factor.'
The VBL board approved the purchase of SBC Tanzania for Rs 1,304 crore and SBC Beverages Ghana for Rs 127 crore. These own manufacturing/distribution rights for NARTD (PepsiCo branded) beverages in Tanzania and Ghana. The acquisitions will help VBL gain ground in East and West Africa.
FMCG CEOs indicate that the market should stabilise post the general elections and that some growth should make its way back especially in rural areas
The prospective bidders of Haldiram Snacks Foods (HSFPL), a leading food firm, have sought clarity on the ownership of the brand as it is currently owned by different family factions. The Delhi and Nagpur families have decided to merge their operations and formed a joint venture to sell part of their stake. On the other hand, the Kolkata family runs its separate, independent operations. Bankers said prospective bidders of the company do not want any confusion over the brand in future. They have sought clarity over usage of the brand.
Days before Diwali, the monthly economic review by the finance ministry has highlighted moderation in urban demand, softening consumer sentiments and limited footfall as areas that need to be watched. In its review, released on Monday, the ministry also noted the early signs of artificial intelligence displacing workers, as described in anecdotal reports. The commentary from several large consumer goods companies, including Nestl India, Hindustan Unilever, and ITC, in their recent quarterly earnings, has been around a sluggish urban demand. Rural consumption, however, has mostly seen a revival, the companies pointed out.
Overall, the domestic FMCG market bounced back to levels of 98 in June compared with 75 in May and 101 in March before the nationwide lockdown was announced. The pre-Covid March index for foods was 103, and for non-foods, it was 99.
A break-up of business shows that 75% of a firm's turnover is led by volume growth, while 25% is price-led. Companies such as Britannia, Nestl, Dabur, Marico, Kellogg, Parle Products, and Hindustan Unilever have increasingly focused on smaller packs of their key products, aimed at improving sales.
The severity of the second wave of COVID-19 infections in India poses a key challenge for the FMCG industry and the spread of the virus to rural areas on a relatively higher scale as compared to the first wave is also expected to weigh on industry growth outlook, according to ITC Ltd. There is heightened uncertainty around the timing and shape of the recovery trajectory of overall economic growth in India due to the virus, the company said in its Annual Report for 2020-21. In terms of consumption, urban-led recovery may be relatively muted compared to the first wave as consumers switch to precautionary savings mode and rising healthcare costs eat into household spending, while rural demand may also be blunted by the large-scale spread of the virus to the hinterland in the second wave.
While there was a 6 to 7 per cent increase in volume compared to last year in the first few days of the month which coincided with festivals, a large part of the demand is yet to hit the market.
While green shoots are beginning to emerge, with June sales rebounding to pre-Covid levels thanks to a rural revival, most FMCG chief executives have voiced concerns about localised lockdowns that began in July and have extended into August in some states.
Overall market reaction to the Budget was neutral. Investors absorbed the changes to the tax rates (positive for salaried class) and capital gains taxes (CGTs, negative due to the removal of indexation and increases. Other proposals largely pertain to supporting rural development, buybacks taxed as dividends, Custom duty changes that impact multiple sectors, higher outlays for clean energy, etc. There's some moderation in the growth of capex outlay across defence, fer
Benchmark equity indices Sensex and Nifty pared early gains to settle lower on Wednesday due to late selling in index major Reliance Industries, ITC and HDFC Bank even as the RBI took the first step towards a rate cut in its monetary policy review. Erasing its early gains, the 30-share BSE Sensex fell 167.71 points or 0.21 per cent to close at 81,467.1. During the day, it surged 684.4 points or 0.83 per cent to hit an intra-day high of 82,319.21.
Most brokerages are betting that the new government will shift to a policy focussing on boosting rural incomes and consumption since that has clearly been a pain point.
Recent data from market analytics firm Nielsen shows that the rural market in the country's 630,000-odd villages is pulling down the overall FMCG business.
60-65 per cent of the FMCG industry's overall sales come from urban areas; 35-40 per cent from rural areas.
Infosys fell the most among Sensex stocks, declining by 2.85 per cent. Among other IT stocks, TCS fell by 1.87 per cent, Wipro by 1.52 per cent, and HCL Tech by 1.70 per cent. NSE Nifty plunged by 174.65 points to close at 17,938.40.
Companies whose products have not been picked up for distribution in Gujarat under a "non-cooperation movement" include Marico, Dabur, Emami, Britannia, Reckitt Benckiser, and Godrej Consumer Products.
Mahindra & Mahindra, Titan, Sun Pharma, ITC, Nestle and Tata Motors were the other big gainers. Reliance Industries, Kotak Mahindra Bank, Bajaj Finance and JSW Steel were among the laggards.
Net capital gains from the sector over a full cycle may be more than the gains logged by cyclical sectors.
ITC was the top gainer in the Sensex pack, rallying over 7 per cent, followed by Asian Paints, Hero MotoCorp, Maruti, Bajaj Auto, Sun Pharma, TCS and HCL Tech. On the other hand, IndusInd Bank, NTPC, Bajaj Finance, HDFC and L&T were among the laggards. NSE Nifty advanced 39.70 points, or 0.44 per cent, to 9,106.25.
'A long-term investor with a 4 to 5 year horizon could invest in this theme via SIPs.'
MNC funds invest in companies where foreign promoters have more than 50 per cent shareholding.
The combined wealth of India's dollar billionaires is now equivalent to 33.81 per cent of India's nominal GDP.
These 10 stocks represent the best mix of value and growth, offering relatively low price-to-earnings and price-to-book ratios, a high return on equity, and sufficiently high potential from current levels.
The Budget proposals are expected to boost the fortunes of consumer goods and fast-moving consumer goods companies, which have been struggling with poor consumer demand for more than a year. The Budget announcements, such as the increase in standard deduction by Rs 25,000 for income-tax payers and slab revisions, will put more money in their hands, boosting consumer demand. Private consumption is also likely to benefit from a new scheme to offer internships to 10 million youths in the country's top 500 companies.
India Inc continued to grapple with muted revenue growth in the September 2024 quarter (Q2FY25) and witnessed a decline in margins and profits. The headwinds were especially severe for non-financial companies, while banking, financial services, and insurance (BFSI) firms significantly outpaced the rest of the corporate sector. The total profit of 1,353 listed companies that have released their Q2FY25 results thus far dropped by 0.6 per cent year-on-year (Y-o-Y) - the first cumulative earnings decline in eight quarters.
From the Sensex firms, Wipro, NTPC, Sun Pharma, Mahindra & Mahindra, ITC and Reliance Industries were among the biggest laggards. IndusInd Bank, Axis Bank, Bajaj Finance, HDFC Bank, Larsen & Toubro and State Bank of India were among the major gainers.
The surge in IT, auto and FMCG stocks were led by investors seeking safety against market volatility.
Patanjali Foods has been served a show cause notice by the GST intelligence department, asking the company to explain why input tax credit worth Rs 27.46 crore should not be recovered from it. The yoga guru Ramdev-led Patanjali Ayurved Group firm, which is mainly into the edible oil business, has received the notice from the Directorate General of GST Intelligence, Chandigarh Zonal Unit, according to a regulatory filing made by the company on April 26.
FMCG has been behaving unlike a defensive category in recent quarters.
The slowdown had been brewing since 2016 but was intensified further by several disruptions in the past two years including demonetisation.
The government is set to examine concerns over quick commerce companies potentially undermining businesses of local kirana stores, particularly in the context of the draft Digital Competition Bill, according to official sources. The Ministry of Consumer Affairs recently raised the issue with the Ministry of Corporate Affairs during discussions around the proposed legislation. "We need to assess if and how the Bill can address these concerns and explore further steps to include provisions to keep a check," a senior official stated.
The lowest FMCG index valuation has been around PE 27, while the highest have been above 42PE.
From the Sensex pack, Larsen & Toubro, Bajaj Finserv, Mahindra & Mahindra, UltraTech Cement, State Bank of India, IndusInd Bank, Reliance Industries and Sun Pharma were among the biggest gainers. Bharti Airtel, Titan, ITC, Kotak Mahindra Bank, Tech Mahindra and HDFC Bank were among the laggards.
Equity benchmark indices Sensex and Nifty settled higher on Thursday, powered by a rally in banking and power stocks amid a largely firm trend in global markets. The stock markets mostly traded range-bound in the absence of any major trigger and persistent foreign capital outflows, traders said. The 30-share BSE Sensex rose 144.31 points, or 0.18 per cent, to settle at 81,611.41.
Among the 30 Sensex companies, UltraTech Cement, Larsen & Toubro, Tata Motors, Nestle, Tata Steel, Hindustan Unilever, Bajaj Finance, Reliance Industries, Mahindra & Mahindra and State Bank of India were the biggest laggards. In contrast, Bharti Airtel, Infosys, JSW Steel, Tata Consultancy Services, Wipro and NTPC were among the biggest gainers.
ITC was the top loser in the Sensex pack, shedding 1.97 per cent, followed by Tata Steel 1.80 per cent, HUL 1.57 per cent, Vedanta 1.44 per cent, Bharti Airtel 1.37 per cent and M&M 1.35 per cent.
Today, the company has created a portfolio of vibrant world-class brands.
