Monday, October 26
Rural volume growth continued to outpace that of urban in the December ’24 quarter, packaged consumer goods maker Dabur India said in a quarterly business update on Friday. The company, which derives 48% of its sales from rural markets, said in a stock exchange filing that it expects operating profit growth to remain flat on a year-on-year basis for the quarter ended December 31, on account of inflationary pressures.The maker of Vatika shampoo and Real juices said it expects low single digit consolidated revenue growth in Q3. However, it said that going forward, it anticipated FMCG growth to improve sequentially, adding that it intended to focus on enhancing its market share within the portfolio.During the quarter, rural consumption remained resilient and continued to grow faster than th
A long bear candle was formed on the Nifty daily chart that was placed beside the long bull candle of Thursday. Technically, this pattern indicates a profit booking in the market after a stellar rise on Thursday. Nifty is currently placed near the support of 23900 levels, which is halfway to a long bull candle of Thursday and also support as per change in polarity.On the weekly chart, a reasonable bull candle was formed with upper and lower shadows, which indicates a high wave type candle formation. The near-term uptrend remains intact for Nifty. A decisive move above Thursday's high (24,226) could open renewed buying participation towards 24,400-24,500 levels. Immediate support is around 23,930-23,840 levels, said Nagaraj Shetti of HDFC Securities.In the open interest (OI) data, the highe
