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    Motilal Oswal Financial Services remains bullish on consumption stocks like HUL, Marico

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    Motilal Oswal Financial Services remains bullish on consumption stocks like HUL, Marico

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    Broking firm Motilal Oswal Institutional Equities on Friday said it remains bullish on consumption stocks like Hindustan Unilever Ltd (HUL) and Marico.

    Broking firm Motilal Oswal Institutional Equities on Friday said it remains bullish on consumption stocks like Hindustan Unilever Ltd (HUL) and Marico.
    In an interview to CNBC-TV18, Rajat Rajgarhia, managing director and chief executive officer at Motilal Oswal Securities Ltd, said, "From the global investor’s point of view, somehow India is not on top of their buying charts at this point of time. We have not seen a large active money flowing into the market right now."
    "This market has seen relatively little or a muted participation from institutions both global and local as also evident in the flows that you see. The FII numbers that you see always cover a large part of the big blocks, OFSs or QIPs that have come. However, it is more of a follow-up buying that you have seen in India rather than a lot of active buying that we typically see as a part of such bull markets," Rajgarhia added.
    Gautam Duggad, head of research and institutional equities at Motilal Oswal Financial Services, said, "You have to look at consumption in a slightly longer-term framework as the way things are poised in the short-term, these companies can have a room for disappointing on a volume growth perspective etc. However, what is also emerging from COVID are two very clear trends. One there is a down-trading which is happening. Second is in-home consumption and that is where companies like Tata Consumer, Britannia, Nestle, HUL come in as in-home consumption as a trade has picked up very well post COVID. Third, you have clear market share migration happening from unorganised to organised and that is where branded players are expected to gain market share whether it is staple or a discretionary, we have seen that lay out in the case of HUL and Titan for last five-ten years."
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