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.
This story is from the December 10, 2024 edition of Business Standard.
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This story is from the December 10, 2024 edition of Business Standard.
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