“The stock market is a giant distraction to the business of investing,” according to John C. Bogle.
Let us look at what has happened to the BSE Sensex market and the giant FMCG stocks in the past few hours.
On Friday, August 2nd, 2024, BSE SENSEX, India’s benchmark index dropped by 886 points which could be marked as the 6th major drop of the year 2024 and finally shows that 80,982 while the NSE index dropped by 284 points. This stock market has achieved a 52-week high which is crucial for traders and investors judging their investment portfolios during the upcoming days. It also helps in forecasting potential future price trends and evaluating the current value of a stock.
5 FMCG COMPANIES WITH HIGH MARKET PRICES
Referring to the first company, Bikaji Foods International, which was established by Shri Shivratan Agarwal in the late 80s who successfully laid the foundation of his dream and started producing Bhujia on a large scale. In order to entirely satisfy their clients, Bikaji Foods International Limited aims to become the market leader in the FMCG sector of snacks and savory goods by inventing and creating new items.
It has achieved 52 weeks high of rupees 776.9. Next comes Gillette India, a public company that manufacturers personal grooming and all character products under its various brands, formalin has Indian shaving products Gillette India is a subsidiary of the Procter and Gamble company and has manufacturing facilities in Rajasthan and Himachal Pradesh.
The third company is Gokul Agro Resources Limited ( GARL), one of the fastest-growing FMCG companies in India, which is engaged in the production distribution, and exports of various edible nonedible oils and their derivatives as well as feed meals. Gokul Agro Limited operates diverse business verticals like refineries castor oil derivatives seed crushing and oleo chemicals. The company has a manufacturing facility in Gujarat, India. The company proudly holds credentials indicating dedication to quality and best practices that are acknowledged both nationally and internationally. At Rs 200.75, it topped its 52-week high price. In the last month, the company has gained about 10%.
Let us talk about the well-known brand Kokuyo Camlin, which was established in 1946 as a private firm and became a public limited corporation in 1998.Their partnership began when Japanese stationery giant Kokuyo Co Ltd obtained more than 60% of the market share in Camlin, the top Indian producer at the time. In the most recent ,It has increased by around 19% this month, reaching a 52-week high of Rs. 197.75. The final business is LT Foods, which was established in 1950 by Sri Raghunath Arora to offer families premium rice. The companies that produce and market rice under the DAAWAT brand. This brand’s stock price has risen to Rs 315, a new 52-week high.
In a nutshell, it is right to say that despite the drop in SENSEX, the FMCG industry has stood high and tall in the market by showcasing a strong spike in price. The spike in prices possibly have been caused by the positive response from the side of investors to the strong emphasis in Budget 2024 by the government on boosting rural consumption.
