Positive on Dabur, says Sanjay Manyal

Sanjay Manyal of ICICI Direct told CNBC-TV18, "What we basically believe for specifically Dabur and Marico - these are the domestic companies. Specifically for Dabur India where the volume is majorly coming from rural India, one have seen pretty good growth volumes even in last quarter when actually most of the FMCG players have not seen very good volume growth. It is trading significantly to the other players as Hindustan Unilever (HUL) or Nestle or for that matter even ITC."

"So we are positive on Dabur, basically, on the fact that we believe volume growth which has done would sustain. There will be higher spending consumption levels still at a pretty nascent stage in rural India and that story will still play out with some stocks like Dabur or Marico for that matter," Manyal said. Also Read: List of consumer cos to hit from rupee depreciation