As stocks of fast-moving consumer goods (FMCG) companies keep growing, the sector growth has slowed down due to less packaged food consumption among the Indians and slowdown in daily online grocery demand on various digital platforms
The company’s stock was trading around Rs 640 a piece (down 4.9 per cent) during the day trading.
The Sensex was down 676.51 points or 0.84% at 79,825.57 while the Nifty was down 234.50 points or 0.96% at 24,274.80 at noon.
Bank Nifty opened in green territory with an increase of 704 points or 1.35 per cent at 52 872.30 whereas the Nifty Midcap opened at 56149.90, an up of 295.20 or 0.53 per cent increase.
Major sectors such as pharma/biotech (6 per cent), AI-ML (20 per cent) and fast-moving consumer goods (FMCG) (12 per cent) showed positive growth in hiring activity in the month of June, a new report showed on Monday.
Reliance Retail (RR) has begun appointing super-stockists to distribute its private label products in multiple FMCG categories, Kotak Securities said in a report.
Margin profiles for FMCG businesses are superior to that of grocery retailers with gross margins of 40-60 per cent and EBITDA margin of 15-25 per cent versus 15 per cent and 9 per cent, respectively, for DMart.
Khadi and Village Industries Commission (KVIC) for the first time, has posted a turnover of Rs 1.15 lakh crore, which is unprecedented by any FMCG company in the country. This makes KVIC the only company in the country to have recorded a turnover of Rs 1 lakh crore.
"Both Patanjali and Ruchi Soya will cross Rs 35,000 crore target,'' Baba Ramdev said at a press conference here.
The company, in its draft papers, said that the (OFS) includes "1.53 crore compulsory convertible preference shares, which will be converted up to a maximum of 91.51 lakh shares prior to the filing of the red herring prospectus with the RoC, solely for the purpose of the offer".
