GCPL stock slips 9% on weak growth guidance
Business Standard|December 10, 2024
Shares of most other FMCG firms end with losses of up to 4.1%
SIRALI GUPTA
GCPL stock slips 9% on weak growth guidance

The National Stock Exchange (NSE) Nifty FMCG Index was down over 2 per cent in Monday's trade, dragged by Godrej Consumer Products Ltd (GCPL), which lost 10.8 per cent and recorded the day's low at ₹1,101.65 per share, before closing with a net decline of 8.82 per cent at ₹1,126.50.

The selling pressure in the stock came after the soap-to-home insecticide maker said it expects a flat underlying volume growth and mid-single-digit sales growth in the domestic market in the October-December quarter (Q3) of 2024-25 (FY25). This impacted other fast-moving consumer goods (FMCG) stocks too.

At close, the Nifty FMCG index was down 2.2 per cent at 56,460.6. In comparison, the Nifty 50 was down 0.24 per cent at 24,619. On the FMCG index, 14 stocks declined, and one advanced. Among others, Tata Consumer Products shares were down 4.13 per cent, while Dabur, Marico, and Hindustan Unilever shares were down over 3 per cent. Colgate-Palmolive fell 2.87 per cent.

Diese Geschichte stammt aus der December 10, 2024-Ausgabe von Business Standard.

Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.

Diese Geschichte stammt aus der December 10, 2024-Ausgabe von Business Standard.

Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.

WEITERE ARTIKEL AUS BUSINESS STANDARDAlle anzeigen
Gukesh draws against Liren in 13th game
Business Standard

Gukesh draws against Liren in 13th game

Indian Grandmaster D Gukesh (pictured) tried his best but could not break past a resilient defending champion Ding Liren of China and had to settle for a draw after 68 moves in the 13th and penultimate game of the World Chess championship on Wednesday.

time-read
1 min  |
December 12, 2024
Business Standard

Indian tourist boom spurs revival in US hotel revenues

US hotels and travel companies are aiming to tap a surge in Indian tourists to boost revenue as domestic leisure spending falters and demand from East Asian countries remains below pre-pandemic levels.

time-read
1 min  |
December 12, 2024
Business Standard

First human gene therapy for Hemophilia A now in India

Offering hope to around 136,000 Hemophilia A patients in India, the Department of Biotechnology (DBT) along with the Centre of Stem Cell Research (CSCR) at Christian Medical College (CMC), Vellore announced that they have successfully executed a first-in-human gene therapy using lentiviral vectors for the disease.

time-read
1 min  |
December 12, 2024
Pollution levels drop across India as weather improves
Business Standard

Pollution levels drop across India as weather improves

Pollution levels across the country are declining due to changing weather conditions.

time-read
1 min  |
December 12, 2024
Willow sets the stage for AI's quantum leap
Business Standard

Willow sets the stage for AI's quantum leap

With Google announcing the milestone of Willow—a state-of-the-art quantum computing chip that can solve complex problems in under five minutes, a computation so complex it would have taken a supercomputer around 10 septillion years to complete—tech experts believe this breakthrough could impact artificial intelligence (AI), particularly by making it more accessible to the masses.

time-read
1 min  |
December 12, 2024
Content overload causing indigestion
Business Standard

Content overload causing indigestion

PRASOON JOSHI (53) began as a writer in his teens, did an MBA and then got into advertising. From Daag Ache hain (Surf Excel) to Thanda Matlab Coca-Cola, his work shone with an Indianness that changed the way marketers spoke to consumers. His second foray into writing, as a lyricist (Taare Zameen Par, Delhi 6, etc), dialogue writer (Rang De Basanti) and then a scriptwriter (Bhaag Milkha Bhaag) has been successful. In 2017, he became the head of the Central Board for Film Certification (CBFC). In November this year, Joshi forayed into theatre, with Rajadhiraaj: Love. Life. Leela., a musical depicting the journey of Shri Krishna. In a video interview, Vanita Kohli-Khandekar spoke to Joshi about the play and other things. Edited excerpts:

time-read
3 Minuten  |
December 12, 2024
STAR TREK
Business Standard

STAR TREK

As Mercedes completes three decades in India, its three-pointed star sits atop the luxury table. What drives it?

time-read
5 Minuten  |
December 12, 2024
Business Standard

UNREGULATED BOND PLATFORM MENACE Go with regulated entity: Listed bonds subject to ratings, oversight

The Securities and Exchange Board of India (Sebi), through a circular dated December 5, 2024, warned investors against transacting on unregulated online bond platforms that promote unlisted securities.

time-read
2 Minuten  |
December 12, 2024
AI-first, low-cost leader: Bajaj Fin's path to FY29
Business Standard

AI-first, low-cost leader: Bajaj Fin's path to FY29

Bajaj Finance (BFL) shares rose 3.3 per cent intraday to ₹7,165 apiece before closing 2.6 per cent higher (₹7,116) on the BSE on Wednesday.

time-read
2 Minuten  |
December 12, 2024
Business Standard

Day 1: MobiKwik booked 7x, Vishal Mega Mart gets 51% subscription

The initial public offering (IPO) of One MobiKwik Systems was subscribed 7.3 times on Wednesday, on the first day of offer.

time-read
1 min  |
December 12, 2024