Consumer goods stocks trade in fine fettle

Johnson Controls - Hitachi Air Conditioning India Ltd. | Air Conditioners | Consumer Durables | BSE: 523398 | NSE: JCHAC

18 Oct 2016 Evaluate

Consumer goods stocks remained on buyers’ radar on an Assocham report that riding high on an uptick in the economy and improving perception of job prospects, coupled with steady lowering of interest rates, consumer demand may soar 40 percent in the ongoing festive season.

Johnson Controls - Hitachi Air Conditioning India (JCHAC) is currently trading at Rs. 1546.00, up by 23.65 points or 1.55% from its previous closing of Rs. 1522.35 on the BSE. The scrip opened at Rs. 1560.10 and has touched a high and low of Rs. 1560.10 and Rs. 1546.00 respectively.

Symphony is currently trading at Rs. 1145.05, up by 15.20 points or 1.35% from its previous closing of Rs. 1129.85 on the BSE. The scrip opened at Rs. 1142.00 and has touched a high and low of Rs. 1150.00 and Rs. 1140.00 respectively. So far 347 shares were traded on the counter.

Rajesh Exports is currently trading at Rs. 498.00, up by 9.90 points or 2.03% from its previous closing of Rs. 488.10 on the BSE. The scrip opened at Rs. 490.00 and has touched a high and low of Rs. 507.75 and Rs. 489.75 respectively. So far 67185 shares were traded on the counter.

Rural demand is adding to the festive fervour, as good monsoon has boosted confidence among the farmers and farm labour. Clear demand pick up is visible in the sale of two-wheelers, jewellery and even consumer durables in the rural and semi-rural areas in most parts of the country.

Kolkata and other major cities in the east have witnessed a splurge on Durga Puja shopping while the western cities of Maharashtra and Gujarat have seen good rush of shoppers during Navratri. Delhi and other north Indian cities would pick up pace in the next few days in jewellery buying, apart from consumer durables.