Why Nuvama's Abneesh Roy prefers these consumer stocks

While there is a consumption slowdown across the board, whether it's apparel, footwear, spirits, or fast moving consumer goods (FMCG), there are some companies that defy this trend, according to Abneesh Roy, Executive Director at Nuvama Institutional Equities.

He noted that while major players like ITC and Marico showed mixed results in their latest quarterly reports, there were signs of resilience in certain segments. Roy pointed out ITC's strong performance in the hotel business and FMCG sector, while also acknowledging challenges in their cigarette volumes and paper business.

"The next trigger for the ITC stock will be the hotel demerger, and what happens in the Budget post-elections," he said. He does not see much change in tax rates in the upcoming Budget on February 1. However, given the cigarette volumes are a bit soft there could be slight cut in consensus estimates which will cause pressure on the stock in the near term.