2023 in Review: Nifty FMCG soars 25%; 3 stocks jump over 50%, only 1 in the red
Dabur India), gave positive returns in the current calendar year with 3 rallying over 50 percent. Varun Beverages was the top gainer, surging almost 87 percent in 2023, followed by Radico Khaitan and Colgate-Palmolive, which soared 58 percent and 56 percent, respectively. Meanwhile, ITC, Tata Consumer Products, Nestle India, United Spirits, Godrej Consumer, and Britannia Industries advanced between 20 and 37 percent each.
P&G Hygiene and Emami added around 17 percent each whereas Marico was up 3 percent. United Breweries and Hindustan Unilever were flat but in the green, however, Dabur shed 5.5 percent. Varun Beverages recently hit its record high of ₹1,380.45 on December 20 after the company announced the acquisition of South Africa’s Bevco, which analysts expect to be a good value-creation opportunity.
It has now skyrocketed over 150 percent from its 52-week low of ₹550, hit on February 3, 2023. The stock has gained 13 percent in December after a 21.5 percent rise in November. It gave positive returns in 9 of the 12 months of 2023.
"Varun Beverages’ success in SA, in our view, will require marketing investments (ATL/BTL) and product/packaging innovation to influence consumer habits. Presence at magic price points also remains key to increasing market share from regional players. However, proof points of success in Zimbabwe/Nepal (>50% share now after starting from scratch) and VBL’s best-in-class execution strengths give us confidence of share gains in SA as well," Emkay Global Financial Services said in a note.
Meanwhile, Radico Khaitan added 6 percent in December, extending gains for 3rd straight month. It rallied 24 percent in November and was up 1 percent in October. The stock also gave positive returns in 9 of the
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