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Nifty has declined for the second consecutive day but remains above the 24,600 mark. Attention is focused on Ceat and Godrej Consumer as market movements continue to unfold. Investors are encouraged to stay updated on relevant transactions and market developments.
The Sensex and Nifty closed lower on December 9, with the Nifty Auto Index dropping 0.8% following a year-on-year decline in vehicle sales. Investors are awaiting key economic data, including US consumer price inflation on December 11 and India's CPI on December 12, while the market is expected to consolidate between 24,000 and 25,000 until the FOMC's interest rate decision on December 18.
Godrej Consumer has warned investors that its standalone sales growth and profitability may be negatively impacted by challenging business conditions. This announcement follows a trend in the FMCG sector, where companies like Dabur India have also reported issues such as inventory pile-ups, leading to declining sales. As a result, shares of Godrej Consumer and other FMCG stocks have seen a downturn.
Godrej Consumer Products (GCPL) shares fell over 9% following a weak growth outlook for Q3, with anticipated sales growth in the mid-single digits and a 'temporary downward breach' in margins. The company expects flattish Underlying Volume Growth (UVG) amid subdued demand conditions in the Indian economy. Despite recent challenges, GCPL has maintained an average organic UVG of approximately 7% over the past six quarters.
GODREJ CONSUMER PRODUCTS
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Nifty Declines for Second Day While Ceat and Godrej Consumer Gain Attention
11:28 09.12.2024
Sensex and Nifty decline as investors await key economic data
10:26 09.12.2024
Godrej Consumer Warns of Sales Decline Amid Tough FMCG Market Conditions
07:16 09.12.2024
Godrej Consumer Shares Plunge Amid Weak Growth Outlook and Margin Concerns
04:52 09.12.2024
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