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IIFL’s Mitra Says Indian Consumer Companies to Continue Growing
Arnab Mitra, a Mumbai-based analyst with India Infoline Ltd., comments on stocks of consumer goods makers. Mitra spoke in a telephone interview.
Britannia Industries Ltd. (BRIT) climbed 5.3 percent to 470.7 rupees, the highest since September 2010. Emami Ltd. (HMN), a maker of skin care products, rose 3.2 percent to 447 rupees, the most in four weeks. The Bombay Stock Exchange’s Sensitive Index, or Sensex, added 0.2 percent to 18,308.66, the most in a week, at the 3:30 p.m. close in Mumbai.
“All stocks, be it Unilever, ITC, Godrej or Emami, in the last one month have been showing strength.
‘‘The only visibility of growth and earnings is in the consumer sector. The other sectors are seeing very low growth visibility so you’d see people shifting into consumer stocks.
‘‘The sector should continue to be strong. Next quarter results could be a point when people would again relook at volume growth and such things. If it sustains, and I think it will, I don’t think there’s any major risk to the sector coming down from this level.’’
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