In an interview with CNBC-TV18 he said that retails are witnessing around a 20 percent drop in demand which is led by the fact that there is a liquidity constraint in the channel and people are very carefully spending the cash they have in hand.
Market in the short-term can go lower than what we expected earlier as an impact of this demonetisation along with global factors but the medium to long term view still remains positive, says Vibhav Kapoor of IL&FS.
According to an analysis by domestic brokerage firm Motilal Oswal Securities, with low circulation of money, household consumption has taken a hit and caused business across sectors to decline in the range of 30-80 per cent within the first five days of the demonetisation move.
Gautam Duggad of Motilal Oswal India Strategy says against the current backdrop, he expects Q3FY17 earnings to be impacted the most and, thus, the earnings recovery thesis of 2HFY17 is now in jeopardy.
Over the long term, demonetisation will be beneficial for the Indian economy but what it is too early to speculate what impact it will have on the third quarter earnings, says Adi Godrej, Chairman of Godrej Group.
Future Group food and FMCG arm Future Consumer Ltd has formed a 50:50 joint venture with the UK's largest wholesaler, Booker Group, to expand and develop Booker India.
Assam Chief Minister Sarbananda Sonowal laid the foundation stone of the Patanjali Herbal and Mega Food Park at Balipara in Sonitpur district.
In an interview to CNBC-TV18, Deven Choksey, MD of KRChoksey Investment Managers Private Limited shared his readings and outlook on specific stocks and sectors.
Equity benchmarks continued to fall amid consolidation and mixed Asian cues. FMCG stocks rallied after GST panel fixed rates yesterday while pharma stocks were under pressure on reports of US probe in drug pricing.
Varun Lohchab, MD & Head, Research at Religare Capital Markets said that within the consume sector, it seems the new GST rates will be positive for ITC. For other FMCG items, it would depend on what slabs under which goods fall.
The Centre has proposed 4-tier tax structure of 6, 12, 18 and 26 per cent, the peak rate being for FMCG and consumer durables.
Wipro wants to use the momentum derived from acquisition of a Chinese FMCG company to enlarge this footprint and replicate this success in other developing economies in the region.
The acquisition will mark Dabur's entry into the South African personal care market, the company said in a statement.
Even though Maggi is on an improving trajectory and market share seems to be stabilising in the mid to high 60s, Citi has cut forecasts in 2016 by 3 percent/ 9 percent / 9 percent respectively.
Country's seven leading FMCG companies have fared better than their multinational peers in terms of revenue growth in India during 2015-16 fiscal, says a report.
Sanjay Manyal of ICICI Direct is positive on stocks of HUL and expects a volume growth of over 5 percent. Rural growth is expected to come due to good monsoon.
Domestic volume growth stood at 4.5 percent in Q2 compared to 4.1 percent on quarterly basis and 5 percent (YoY).
Surprisingly, its cigarette revenue grew 7 percent in Q2 at Rs 8528 crore against Rs 7963 crore year-on-year. In Q2, EBITDA grew 7.3 percent at Rs 3630 crore against Rs 3383 crore while margins were almost flat at 26.7 percent against 26.8 percent (YoY).
Cigarette-hotel-to-FMCG major ITC is expected to show good performance in quarterly earnings on Tuesday as profit is likely to increase 10 percent year-on-year to Rs 2,673 crore with likely cigarette volume growth of 3-4 percent in Q2.
Sarwate will work closely with founders and senior leadership team of FCL in building a robust institutional framework for the FMCG arm, Future Group said in a statement.
The FMCG sectors looks very promising but is it indeed. To know what is the scene at the ground level and if there is still value in the space, CNBC-TV18's Sumaira Abidi spoke to VK Sharma of HDFC Securities, G Chokkalingam of Equinomics Research & Advisory and Gautam Benjamin of ICICI Securities.
Mihir Vora, Director And Chief Investment Officer at Max Life Insurance expects a 10-15 percent compounded growth from the market over the next two years. He says the market has delivered a little more than the economy till now. It is high time the economy delivers too.
Abneesh Roy of Edelweiss Securities expects the rate for home, personal care and paints to be around 18 percent. More clarity is needed on GST rates before any clarity is needed.
Harsh Mariwala, CMD, Kaya says 22 percent is an effectiver GST rate for fast moving consumer goods (FMCG) companies. He also says that any sin tax below 40 percent will be beneficial for the industry.
The long-delayed tax, which would transform Asia's third-largest economy into a single market for the first time, should boost revenues through better compliance while making life simpler for businesses that now pay a host of federal and state levies.