FMCG shares gain on govt's relief package announced by Nirmala Sitharaman
Published On: Thursday, March 26, 2020 | By: Team KnowMyStock
Shares of fast-moving consumer goods (FMCG) companies gained up to 8 per cent on the National Stock Exchange (NSE) on Thursday after Finance Minister Nirmala Sitharama announced an economic package to deal with Covid-19 impact. The government would provide a relief package of Rs 1.7 trillion under the Pradhan Mantri Garib Kalyan Scheme to the underprivileged, poor and migrant workers. Amid the COVID-19 outbreak, migrant workers in major cities have been suffering to obtain essential supplies since the 21-day lockdown began. Under Pradhan Mantri Garib Kalyan Anna Yojana scheme an additional 5 kg of rice or wheat will be given over the next three months, along with an additional 1 kg of preferred pulses to each household. Among individual stocks, Marico and Godrej Consumer Products have moved higher by up to 8 per cent, while ITC, Hindustan Unilever, Emami, Dabur India, Colgate Palmolive (India), and Britannia Industries were up in the range of 5 per cent to 7 per cent on the NSE.
Tags: FMCG
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