FMCG stocks are buzzing led by Hindustan Unilever, Colgate Palmolive, Dabur India, Nestle India and Tata Consumer which added over 2 percent each.
The Indian stock market continues trading in the positive territory with Sensex up 195.20 points or 0.56 percent at 35106.52, and the Nifty gained 66 points or 0.64 percent at 10377.20.
FMCG stocks are buzzing intraday on June 23 led by Hindustan Unilever, Colgate Palmolive, Dabur India, Nestle India and Tata Consumer which added over 2 percent each.
Hindustan Unilever shares were among the top index gainers with the stock witnessing spurt in volume by more than 1.70 times. It was trading with volumes of 133,735 shares, compared to its five day average of 67,106 shares, an increase of 99.29 percent.
The stock was quoting at Rs 2,156.00, up Rs 55.35, or 2.63 percent and was also one of the most active stocks on NSE in terms of volumes with 24,65,508 shares being traded at 11:49 hours.
Brokerage firm Motilal Oswal remains positive on HUL in the medium term with a Buy rating and target price of Rs 2,400 per share.
Colgate Palmolive share price rose after foreign brokerage Nomura initiated coverage on the stock with a buy call for a target at Rs 1,620 per share. According to Nomura, the elevated oral hygiene consciousness is going to drive consumer habit changes, while stepping up new launches, filling up white spaces boosting the direct reach.
The Japanese brokerage forecasts FY21/22/23 earnings growth of 8%/15%/15%, reported CNBC-TV18.
The other gainers included Varun Beverages, Marico, ITC, Godrej Consumer and Britannia Industries.
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