The top 3 consumer picks are Godrej Consumer Products, Dabur India and Tata Consumer Products, said Manoj Menon, head of research and FMCG analyst at ICICI Securities, on Tuesday, adding that “Godrej Consumer is our top pick in the consumer sector.”

He further said that Tata Consumer is a high-beta fast-moving consumer goods (FMCG) company.

According to Menon, consumers' re-allocation of spending has aided discretionary businesses. “In the last 18 months, consumers could not spend on holiday and possibly that has gone into paying for jewellery. So there has been a sort of reallocation of spends,” he said.

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Talking about HUL, he said that investors are waiting for Hindustan Unilever’s (HUL) GlaxoSmithKline Consumer Healthcare (GSKCH) portfolio theme to play out.

For the entire interview, watch the video