On the day the Reserve Bank of India cut rates by 40 basis points and extended the moratorium on loans by another three months, Bank Nifty slumped as much as 630 points in intra-day trade on Friday before closing at 456.20 po
Interestingly, the banking and financial stocks saw ownership coming down the most as majority of foreign investors expect the impending economic slowdown due to the COVID-19 pandemic to have a greater impact on the sector.
According to Bloomberg, the coronavirus outbreak sparked fears of a global pandemic even as Afghanistan, Bahrain and Kuwait reported their first cases while infections spiked again in South Korea and Iran.
HUL has been a stellar performer, with the stock generating a CAGR of 25% over the past 10 years as investors continue to reward its outstanding earnings growth with an equal and reciprocal growth in re-rating.
On the basis of average six-month free float market capitalisation, Dabur, Godrej Consumer (GCPL) and Shree Cement have marginal differences, though Dabur ranks the highest and Shree Cement the lowest.
The stock fell by another 12% since Saturday after finance minister Nirmala Sitharaman proposed higher levies on cigarettes and other tobacco products in the Budget. The market expects ITC to take 10-12% price hikes, followin