homevideos Newsmarket Newsstocks NewsEdelweiss Securities bullish on HUL, Nestle and Godrej Consumer
Edelweiss Securities bullish on HUL, Nestle and Godrej Consumer
In broader consumer space, Edelweiss Securities is bullish on Hindustan Unilever (HUL), Nestle, and Godrej Consumer and in the discretionary prefers Asian Paints, said Abneesh Roy of the financial services firm, on Tuesday.
In broader consumer space, Edelweiss Securities is bullish on Hindustan Unilever (HUL), Nestle, and Godrej Consumer and in the discretionary prefers Asian Paints, said Abneesh Roy of the financial services firm, on Tuesday.
Paint companies are in focus as reports suggest there could be a second round of price hikes soon.
Speaking in an interview with CNBC-TV18, Roy said, “In broader consumer space we like Hindustan Unilever, Nestle, and Godrej Consumer and in the discretionary, we like Asian Paints a lot. These four are our top picks.”
On paint companies, he said, “The current material scenario is quite inflationary across the board and not just for paint companies.”
“However, for paint companies, it is not that inflationary versus Pidilite or a soap player or tea companies; it is less inflationary. Yes, here also supply disruptions are happening and that’s why we see paint companies take price hike,” said Roy.
On Asian Paints, he said, “Asian Paints is taking only one hike. They took around 2.8 percent hike from May 1. Asian Paints is very aggressive and under the new CEO Amit Syngle. He is very aggressive on market share expansion. Therefore, I would expect Asian Paints to gain market share.”
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(Edited by : Aditi Gautam)
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