FMCG sector News

FMCG major Hindustan Unilever Ltd on Monday reported 6.82 percent increase in standalone net profit to Rs 1,037.93 crore for the third quarter of the current fiscal.

Sensex extended its losses on weak global cues in early trade on Friday. The benchmark BSE Sensex surrendered another 64 points to quote at 25,915.41 in early trade today.  

The hopes of FMCG companies on the back of a good monsoon and the Seventh Pay Panel award came partially unstuck after the government's sudden move to pull back currency notes upset the applecart towards the end of 2016.

Country's seven leading FMCG companies have fared better than their multinational peers in terms of revenue growth in India during 2015-16 fiscal, says a report.

India`s top companies are expected to report their weakest pace of growth in two years in the quarter to March, held back by drought and slack demand - a slowdown analysts and companies expect to reverse with an `above-normal` monsoon in 2016.

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Godrej group will continue to scout for acquisitions in the FMCG sector in the developing economies, including India, to fulfill its vision of having 10-fold growth by 2020.

Shares of Nestle today closed at Rs 7,012.80 per share on BSE, up 2.68 percent from previous close.

Emami shares today closed at Rs 941.25 apiece on the BSE, up 1.25% from previous close.

The voluntary retirement scheme which was offered to the employees of the toothpowder manufacturing factory of the company at Aurangabad has been accepted.

FMCG giant Unilever CEO Paul Polman and technology major Intel President Renee James today met Prime Minister Narendra Modi as a slew of global corporate honchos continue to line up to express their intention to invest in India.

State-owned Life Insurance Corporation (LIC) has cut 2.03 percent stake in FMCG firm Colgate-Palmolive to bring down its shareholding in the company at 2.98 percent after selling 27.60 lakh shares in the open market.

They are called 'Fast Moving Consumer Goods' companies, but it has turned out to be a year of slow business for the FMCG sector, even as movements were quite visible in 2014 among those at the helm of affairs.

FMCG major RB would spend Rs 100 crore in next five years in creating awareness about the importance of hygiene and sanitation and has roped in Bollywood mega star Amitabh Bachchan as a face of the campaign.