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India`s consumer stocks topple on Godrej Consumer`s weak Q3 sales outlook
Monday, December 09, 2024       13:50 WIB

Dec 9, 2024 at 5:14 am GMT
** India's Nifty FMCG Index.NIFTYFMCGfalls 2.3% after a weak quarterly sales forecast by Godrej Consumer Products GOCP .NS
** All 15 stocks on the index trading in red
** GOCP top loser on the index, down 9.6% and set for worst day in more than 4-1/2 years
** Co, which makes Cinthol brand of soap and Good Knight brand of insect repellent products,saidit expects flattish underlying volume growth and around mid-single digit pct sales growth for standalone business in Q3
** Demand conditions in India have beensubdued in past quartersas consumers cut back on spending due to persistently high inflation
** GCP is first among consumer goods companies to post Q3 update
** Larger rivals Hindustan UnileverHLL.NSand Britannia BRIT .NSdown ~4% and 2% respectively; among top losers on the Nifty 50. NSEI
** .NIFTYFMCG down ~1% YTD vs a 13% gain in benchmark Nifty 50 index. NSEI
 Reporting by Ashna Teresa Britto in Bengaluru 

Sumber : Reuters

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