Fast moving consumer goods (FMCG) major Marico may be prepared to transition to the new tax regime, goods and services tax (GST) but expects the June quarter to be impacted because of this transition. In an exclusive interview to CNBC-TV18's Priya Sheth, Marico's Harsh Mariwala said that the company is prepared for some degree of degrowth.
Marico, Godrej Consumer Products and Dabur said they are helping their trade partners to liquidate current inventory to ensure a smooth transition and reduce the loss of sale at the retail level.
A National Anti-profiteering Authority will be set up for two years and will have the power to order price changes or impose penalties.
FMCG major Marico's founder Harsh Mariwala has termed Patanjali “the most overhyped brand in India", expressing skepticism about its success in future.
The company, which today opened its first outlet in Mumbai, said it will soon have similar set ups in New Delhi, Madhya Pradesh and Rajasthan.
HUL Chief Financial Officer P B Balaji took home a salary of Rs 8.33 crore for the period under review, although he also did not get any raise in 2016-17.
PhillipCapital is hosting their Annual Ground View Conference in Mumbai. In an interview to CNBC-TV18, Naveen Kulkarni, Co-Head of Research at Phillipcapital spoke about the mood at the conference and specific stocks.
The S&P BSE Sensex pared gains in the last two trading sessions and eventually closed in the green largely led by weak global cues.
Mutual funds have been picking up shares of FMCG such as HUL, Marico, ITC, Colgate, Dabur
However, Kotak MF remains constructive on markets and corrections are likely to remain short-lived, said CIO Harsha Upadhyaya,
The GST will be positive for Colgate and Dabur and will have neutral to negative for cigarette manufacturers
ITC surging to record high in trade today - analysts believe that the fast moving consumer goods (FMCG) sector is likely to benefit the most from the onset of the goods and services tax (GST) regime and in that ITC tops the list.
Niche indices such as BSE FMCG and Nifty FMCG gained over 2 percent. Major stock such as ITC and Hindustan Unilever too gained
The Nifty50 rose to a fresh record high of 9,521 in morning trade on Wednesday, but many are still waiting for a slight dip as a lot of smart money is still waiting on sidelines, Nilesh Shah, MD, Kotak AMC said in an interview with CNBC-TV18.
The company had posted a net profit of Rs 143.27 crore during the same period last year, Colgate-Palmolive said in a BSE filing.
The company had posted a net profit of Rs 124.84 crore in the January-March quarter a year-ago, GCPL said in a BSE filing.
"Kareena's vibrant persona, pan-India appeal and her confident attitude makes her a great fit for our brand," Dabur India DGM - Hair Oils, Rajat Nanda said.
The Haridwar-based FMCG firm had clocked a turnover of Rs 10,561 crore in the financial year ended March 31, 2017.
Association of International Metallizers, Coaters & Laminators (AIMCAL) conferred the Marketing Excellence Award 2017 (in food category) to the 3 Dimensional Slide to Close (STC) Zipper Bag with a Side Gusset Handle that Uflex Limited manufactured for Samaa Basmati Rice.
"This is inform that the ongoing disputes at various courts between the company and various group companies of Procter & Gamble Inc. in India, have been settled with mutual consent and concluded positively for JHS," JHS Svendgaard Laboratories said in a BSE filing.
Net Sales are expected to increase by 41.2 percent Q-o-Q (up 12 percent Y-o-Y) to Rs 1295.9 crore, according to KR Choksey. Blue Star to report net profit at 44.3 crore up 205.2% quarter-on-quarter.
Net Sales are expected to increase by 15.7 percent Q-o-Q (up 9 percent Y-o-Y) to Rs 937.6 crore, according to KR Choksey. Whirlpool of India to report net profit at 71.4 crore up 28.8% quarter-on-quarter.
Net Sales are expected to increase by 39 percent Q-o-Q (up 5 percent Y-o-Y) to Rs 428.51 crore, according to KR Choksey. Prabhat Dairy to report net profit at 11.7 crore up 43.3% quarter-on-quarter.
Net Sales are expected to decrease by 12 percent Q-o-Q (up 15 percent Y-o-Y) to Rs 158.6 crore, according to KR Choksey. Symphony Ltd to report net profit at 44.6 crore down 20.4% quarter-on-quarter.
Net Sales are expected to increase by 13.1 percent Q-o-Q (up 5 percent Y-o-Y) to Rs 468.38 crore, according to KR Choksey. Parag Foods to report net profit at 1.31 crore down 91.9% quarter-on-quarter.