Funds buy FMCG Stocks

A combination of factors like above normal rainfall, improved fundamentals and reasonable valuations has rejuvenated interest in fast moving consumer goods (FMCG) scrips, which were earlier seen to be lagging.

The scrips have been attracting a lot of fund-based buying and have, in fact, emerged as market outperformers over the past two months. Sources said mutual funds (MFs) have been accumulating leading stocks such as ITC and Hindustan Unilever (HUL), which are perceived to be good defensive bets when the market is highly volatile.

Read more