Kansai Nerolac Paints has seen its market capitalisation (mcap) erode by over 5 per cent since May 3 after posting a subpar performance in the fourth quarter of 2023-24.
Weighed down by stiff competition, the company has shed Rs 1,172 crore over the past two weeks in mcap.
India s largest paint maker in terms of mcap, expects double-digit growth in the industrial segment and aims to maintain margins, but its performance in decorative paints could suffer amid competition.
The stock of consumer goods major Emami has corrected nearly 3.5 per cent since its 52-week high of Rs 546.25.
On August 29, the stock closed at Rs 521.90 on the BSE.
After underperforming the Nifty FMCG index for a long time, the stock is now doing a catch up and surged over 13 per cent in the past one month.
Except for Westlife Foodworld (Westlife), a weak 2022-23 (FY23) January-March (fourth quarter, or Q4) quarter performance and a muted near-term outlook led to a downward revision of earnings estimates for quick-service restaurant (QSR) players.
Brokerages have slashed estimates by as much as 10 per cent for 2023-24 (FY24) and 2024-25 (FY25).
The downward revisions have weighed on the performance of listed players, who have underperformed the market with low single-digit returns over the past month.
Since its results, the stock of bottling and beverage distribution company Varun Beverages (VBL) is up 7 per cent on the back of a strong 2022-23 January-March quarter performance, robust outlook, and revision in profit estimates.
Given the sharp uptick, it is now part of the trillion-rupee club, with its market capitalisation at Rs 1.01 trillion.
The stock is one of the best performers in the consumer space as well as the S&P BSE 200, of which it is a constituent.