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Dealer inventory for Symphony at 2-3 weeks, buyback option still on the table

Dealer inventory for Symphony is at two-three weeks, said Achal Bakeri, chief managing director of the company, adding that the firm has not taken any price cuts.
Consumer durables stocks are in focus on reports that companies have cut prices by 20 percent. The last few months have been tough in terms of consumer demand for these companies.
Bakeri said 2019 summer is expected to be better given low base. "If the summer were to be at 2017 levels, then the industry would be likely looking at high double-digit growth. Margins in FY19 got impacted due to decline in topline but margins may reach 2017 levels if sales pick up," he said.
According to him, the consumer sentiment is not buoyant because of various reasons like delayed summer, demonetisation, GST. However, if temperatures were to soar, then regardless of sentiment, the company would do good sales, he added.
He also specified that the option of buyback is still on the table and could be announced in short-term.

Market Movers

CompanyPriceChange%Loss
Larsen1,503.45 -16.25
HDFC Life682.60 -6.65
SBI Life Insura988.10 -9.45
IndusInd Bank1,015.10 -9.25
Divis Labs4,334.50 -38.05
CompanyPriceChange%Loss
Larsen1,502.75 -16.30
IndusInd Bank1,015.45 -8.20
Bajaj Finserv11,898.45 -93.15
Bharti Airtel540.90 -4.15
ICICI Bank635.60 -4.55
CompanyPriceChange%Loss
Larsen1,503.45 -16.25 -1.07
HDFC Life682.60 -6.65 -0.96
SBI Life Insura988.10 -9.45 -0.95
IndusInd Bank1,015.10 -9.25 -0.90
Divis Labs4,334.50 -38.05 -0.87
CompanyPriceChange%Loss
Larsen1,502.75 -16.30 -1.07
IndusInd Bank1,015.45 -8.20 -0.80
Bajaj Finserv11,898.45 -93.15 -0.78
Bharti Airtel540.90 -4.15 -0.76
ICICI Bank635.60 -4.55 -0.71

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