[ad_1]
Synopsis
“FMCG 2QFY21 performance confi rms our thesis of K-shaped business recovery. Industry tailwinds, multiple margin levers and falling capex are likely to support healthy FMCG profit,” said CLSA, raising estimates by 3-4 per cent on improved fundamentals.
Brokerages have maintained a buy rating on ITC as its FMCG business performed better than market expectations in the September quarter. The stock ended down 0.7 per cent at Rs 172.80 on Monday. The company on Friday posted a 19.65 per cent drop in standalone net profit to Rs 3,232.40 crore. Revenue from FMCG business rose to Rs 8,916.25 crore from Rs 8,615.14 crore in the same quarter last year. Antique, IIFL, Elara, Jefferies, Kotak
- FONT SIZE
AbcSmall
AbcMedium
AbcLarge
To Read the Full Story, Become an ET Prime Member
Sign in to read the full article
You’ve got this Prime Story as a Free Gift
Access the exclusive Economic Times stories, Editorial and Expert opinion
Already a Member? Sign In now
Why ?
Sharp Insight-rich, Indepth stories across 20+ sectors
Access the exclusive Economic Times stories, Editorial and Expert opinion
Clean experience with
Minimal AdsComment & Engage with ET Prime community Exclusive invites to Virtual Events with Industry Leaders A trusted team of Journalists & Analysts who can best filter signal from noise
[ad_2]
Source link
[ad_2]
