An outperformance by HUL helped it surpass ITC. HUL has been gaining momentum while ITC has merely held on to the same level where it was in the last one-year.
While Britannia’s attempt to expand its portfolio and focus on high margins products is commendable, increasing competition in the premium biscuits and cheese categories needs to be watched carefully.
In the medium-term, the company is expected to benefit from strong industry-wide positive trends in its non-cigarettes businesses, particularly FMCG and hotels.
The company reported EBITDA margin of 39.1 percent compared to 38.4 percent a year ago
The Kolkata-based company's net sales for March quarter is seen at Rs 12,126 crore, 9 percent higher on year
“Breaking out 10,700 brightens the possibility of sift up-move towards 10,780 .” says Jaydeb Dey, Technical Analyst at Stewart & Mackertich Wealth Management Ltd.
The market breadth was in favour of the declines with 694 stocks advancing while 1014 declined and 339 remained unchanged. On the other hand, in the BSE, 1082 stocks advanced and 1509 declined and 131 remained unchanged.
"We recommend traders to buy this around Rs 283 to Rs 280 with a price target of Rs 320 and a stop loss placed below Rs 266," says Aditya Agarwal, Head Technical Research at Way2Wealth Brokers.
Rajat Bose of rajatkbose.com is of the view that one can buy ACC with stop loss below Rs 1529.80 and target at Rs 1551, a buy on Bharti Infratel with stop loss below Rs 320 while targets are Rs 332 and Rs 335 while one can sell Asian Paints with stop loss above Rs 1216 and targets are Rs 1197 and Rs 1182.
Ashwani Gujral of ashwanigujral.com is of the view that one can buy ITC with a stop loss of Rs 283, target of Rs 297, a buy in Pidilite Industries with a stop loss of Rs 1080, target of Rs 1240 and a sell in Balrampur Chini with a stop loss of Rs 70, target of Rs 62.
Rajesh Agarwal of AUM Capital recommends buying Yes Bank with target at Rs 365 and stop loss at Rs 341, a buy on Tata Steel with target at Rs 589 and stop loss at Rs 569 and a buy also on Wockhardt with target at Rs 810 and stop loss at Rs 780.
These 25 aspirational districts are in Assam, Bihar, Jharkhand, Madhya Pradesh, Maharashtra, Rajasthan and Uttar Pradesh and partnership is for a period of four years, i.e. up to April 2022, ITC said in a statement.
Net Sales are expected to increase by 4.7 percent Y-o-Y (up 16.9 percent Q-o-Q) to Rs. 11,521.2 crore, according to ICICI Direct.
Net Sales are expected to increase by 5.2 percent Y-o-Y (up 19.7 percent Q-o-Q) to Rs. 11,700 crore, according to Prabhudas Lilladher.
Net Sales are expected to decrease by 30.2 percent Y-o-Y (up 5.3 percent Q-o-Q) to Rs. 10,477.5 crore, according to KR Choksey.
"We are expecting an upside movement in the counter up to the level of Rs 295-312 while downside support comes at Rs 253," says Sumeet Bagadia, Associate Director, Research at choiceindia.com.
Net Sales are expected to increase by 6.5 percent Y-o-Y (up 19 percent Q-o-Q) to Rs. 11,845 crore, according to HDFC Securities.
Prakash Gaba of prakashgaba.com recommends buying CG Power with target at Rs 84 and stop loss at Rs 81.50, a buy on ITC with target at Rs 275 and stop loss at Rs 265 and a buy also on Jet Airways with target at Rs 680 and stop loss at Rs 630.
Besides, the ministry is keen to take the ETF route to sell off government shares held through SUUTI in private companies -- ITC, Axis Bank and L&T, an official told PTI.
It looks like the worst is over for Indian markets which is reasonably priced; however, stock picking has become difficult. Going forward, if we look at what is happening across the globe and back home, most investors have moderated their return expectations from the market, indicated Porinju Veliyath of Equity Intelligence India.
“If the monsoon predictions are accurate, the agricultural sector is set for a boost. Rain vs Food inflations although are not so directly related deficient rainfall should theoretically result in lower crop output and drive up prices due to a demand-supply mismatch,” Ritesh Ashar – Chief Strategy Officer (CSO), KIFS Tarde Capital told Moneycontrol.
"We expect the company’s performance to improve with steady rise in revenues and improvement in margins due to GST," says Sumit Bilgaiyan, Founder of Equity99.
Pepsico India Holdings Pvt Ltd had rushed to the high court after ITC, the manufacturer of B Natural, also a juice product, came out with full page advertisements in national dailies today and in electronic and social media for last two days, allegedly belittling its product 'Tropicana' and Dabur's 'Real'.
Ambareesh Baliga is of the clear belief that it is time to start buying. “Buy in small quantities; it is time to buy bluechips like ITC, Dabur, HUL,” he said.
The company has already filed FIRs in Kolkata and Hyderabad.