For quality stocks that trade at premium valuations amidst expectations of strong growth rates, there is no leeway for disappointment. That’s what happened with Page Industries.
The Indian franchise and manufacturer of Jockey innerwear reported lower-than-expected numbers for September 2018 quarter (Q2) on Wednesday, mainly due to the shift in festive season from Q2 of FY19, to the current quarter, indicating high probability of an improved performance in Q3. Yet, the stock fell about five per cent to Rs 27,880 even as the BSE FMCG index was up 0.9 per cent, on Wednesday. Page ...
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