 "The analysts also say that weak domestic remittances (due to reverse migration) and weak perishables output (in the past few months) do not leave rural households to spend much on FMCG and other products")
Higher food inflation, sluggish demand, and weak macro environment skewed purchasing power among consumers in the April-June quarter of FY23 (Q1FY23). All this impacted the fortunes of consumer goods companies, said analysts, who expect the second half of fiscal FY23 (H2FY23) to be better as commodity prices cool off. That apart, they expect a gradual pick-up in demand.
At the bourses, the Nifty FMCG index has outperformed with a gain of over 18 per cent thus far in FY23. In comparison, frontline indices like Nifty50 and the S&P BSE Sensex have gained over 1 per cent each, during the same
