Devang Mehta, Head-Equity Advisory, Centrum Wealth Management said we are positive on FMCG space.

Speaking on Bharti Airtel he said, " Both Bharti Airtel and Idea are sort of losing market share plus the pricing power loss and the competitive intensity that we have seen in the sector has kept all such stocks or all such businesses on tenterhooks."

"My sense is that there will be relief rallies in between where such set of news will come and it is very important for these companies to deleverage themselves and this provides an opportunity to raise some level of cash and also utilise it in a prudent way or to reduce debt rather. It is just a small positive but on a sector per se because of the competitive intensity I would avoid these type of businesses."

On FMCG space he said, "FMCG post couple of brokerage reports and what we saw in the last 7 days, there has been a sharp correction amongst the discretionary as well as the non-discretionary ones. Clearly these are buying opportunities. It is just a sell-off because of healthy profit booking and it should not be a reason to just get out or exit these type of businesses."

"Godrej Consumer, Dabur and Havells have fast moving electrical goods, and without recommendation I can say that these are some of the extraordinary businesses which have been doing well and they have shown a good bit of numbers, very good volume growth amongst Dabur as well as Godrej Consumer, so these are the types of FMCG businesses which will keep on growing as the consumption boom again starts and the next 2-3 quarter numbers would be amazing for all these type of companies," he added.

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