Jul 15, 2022
By: bhakti.makwana@timesinternet.in
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Indian stock markets have been volatile for many months now due to global uncertainties, rising inflation and interest rates. However, there were some outliers that managed to escape the rout.
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Shares of FMCG companies have been rising high in the last one month aided by the fall in global crude palm oil prices – a key raw material. Hindustan Unilever’s 17 percent gain in the last 30 days gave investors something to celebrate amid the high inflation.
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The automaker has been gaining traction since British International Investment announced plans to invest up to $250 million in a new electric passenger vehicle company to be set up by M&M.
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FMCG stocks, which had underperformed the market in the last two years, are now becoming investors’ favorite as they make defensive bets amid an economic slowdown.
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Shares of one of the largest paint companies are picking up after a downbeat performance due to rising raw material prices and post-covid impact. Meanwhile, analysts say the company has continued to remain a dominant player and has managed to protect margins.
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As input costs soften and auto sales improve, analysts expect the automaker’s earnings for the April-June quarter to improve. “We continue to believe that Maruti Suzuki is well placed to recapture its FY13-18 ‘Golden Phase’,” said a report by DAM Capital.
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Shares of all FMCG companies have been rising in the last one month as crude oil prices have inched down to below $100 per barrel – a big positive for the sector.
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Shares of the Kolkata-based FMCG-to-cigarette conglomerate have been gaining on expectations of strong earnings in the June quarter led by healthy volume growth in cigarettes business.
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The New Delhi-based parent of Royal Enfield posted robust sales in June. Volumes soared 43 percent to 61,407 units in the month, against 43,048 units last year.
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The two-wheeler giant is among automakers that have booked strong sales in the month of June – registering a 3.35 percent growth in sales to 4.84 lakh units. Sales of motorcycles boosted its performance.
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Analysts believe the lender’s credit card segment has witnessed strong growth. Brokerage Jefferies sees ICICI Bank delivering a 17 percent compound annual growth rate in profit over FY 22-24 with return on equity of 16 percent
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The NBFC recently disclosed its June-quarter performance that mentioned 7.4 million new loans as compared to 4.6 million last year. Also it logged the highest ever quarterly increase in its customer franchise of 2.7 million.
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