Over the last six months, the government has put in a lot of building blocks in place for a broad-based growth and focus will now be on implementation of these policies says Bharat Iyer, Head Of India Equity Research at JPMorgan.
Maruti Suzuki touched a record high of Rs 5,572.30, up more than 2 percent and hit market capitalisation of Rs 1.7 lakh crore.
The market breadth also gradually improved. More than three shares declined for every share rising on the exchange against the earlier ratio of 6:1.
Madhu Kela of Reliance Capital is of the view that one can look at the FMCG space whenver stocks becomes cheap.
Speaking to CNBC-TV18 Madhusudan Kela, Chief Investment Strategist, Reliance Capital, said that a small shift from bond to equity is keeping equity valuations elevated.
Interacting with CEOs at FICCI's annual Retail, FMCG and E-Commerce convention, he said that in today's globalised world, it has become essential for India to become a part of the global supply chain. For this, India has opened up its economy and liberalised the FDI regime.
While Shivakumar says PepsiCo has started giving healthier alternatives to its products, Ajay Kaul of Jubilant Foodworks says fast-food is a guilty pleasure for consumers and they don't mind indulging in moderation.
ITC and HUL rallied 1-2 percent while ICICI Bank, Lupin, Sun Pharma and Maruti were down over a percent.
The global economy is likely to face strong deflationary pressures over the medium to long term and central banks' easy money policies to counter this trend will likely have implications for stocks, says Chandresh Nigam, MD and CEO of Axis Asset Management Company.
"We would file a suit against ASCI. We would file the case in the court very soon. We are discussing the possibilities and would take action on this issue very soon," Ramdev said here at a press conference while describing these notices as "love letters" from ASCI.
The markets have run up quite sharply and a correction is likely, he says. He recommends retail investors should look to invest with a long term perspective or else bottom up stock picking.
While the markets continue to rally higher, UBS's Gautam Chhaochharia believes that risk reward is still not attractive here.
According to sources, Sri Sri Ayurveda is looking to scale up its FMCG business with plans to expand franchise outlets to 2500 by end of this fiscal from 1000 now and add 14-15 additional categories from 20-25 categories that they currently operate in.
Earnings of fast moving consumer goods (FMCG)companies in the June quarter quarter is a clear reflection of this sentiment as most the players in this space have disappointed street estimates.
GST will help India become a big unified market, says Kishore Biyani, CEO of Future Group, adding, the company will benefit the most.
The debt was raised to acquire Kesh King brand at a total cost of Rs 1,684 crore. The brand generates 10 per cent of the total revenue and had Rs 60 crore impact on Q1 FY17 profits due to amortisation of intangibles.
RC Bhargava, Chairman of Maruti Suzuki, said that the GST is a good move, but the focus should be on implementing it once the legislation is passed. Legislation on paper won‘t be good unless there is implementation, he said.
"Overall, we should see a boost to consumption in India, following the implementation of the 7th Pay Commission and the passing of GST. We are hopeful that the second half of the year will be better than the first," GCPL Managing Director Vivek Gambhir told PTI.
Speaking to CNBC-TV18, Andrew Holland, CEO of Ambit Investment Advisors said that it is a liquidity market right now.
Healthcare, FMCG and metals stocks continued to support the market while banking & financials, infra and telecom stocks dragged.
Manoj Behera of PhillipCapital is confident of Zee Entertainment posting robust earnings going forward too with a CAGR growth of 25-30 percent.
While the 105th annual general meeting threw no light on succession at the comglomerate, Deveshwar left the company with a plan that should take the FMCG revenues to Rs 1 lakh crore by 2030.
He rejected suggestions that the non-tobacco businesses of the group should be made to grow faster than the tobacco business, but rued that ITC's investment plans were getting delayed due to a long time required for getting approvals.
The affirmation of ASCI, a self-regulatory organisation (SRO) for advertising contents, on the soundness of the product comes in the wake of complaint received by it on the claims being made by the brand, which was dismissed by the regulatory body.
"With respect to the sale of rice export business of HUL carried out primarily under the brands "Gold Seal Indus Valley" and "Rozana", to LT Foods Middle East DMMC, a group Company of LT Foods India Ltd... the company has now completed the said transaction," HUL said in a BSE filing.