Positives still remain for the FMCG companies which have been under pressure in trade over the past few days, said Abneesh Roy of Edelweiss Securities.
"Lot of positives still remain. Last 10 years, if you see, FMCG sectors always has had concerns on valuation, correction happens and then the sector comes back very strongly,” he said.
The stocks that witnessed pressure are Hindustan Unilever Ltd (HUL), Nestle, Britannia, Jubilant Food and Godrej Consumer.
“Things are absolutely fine. The risk of Patanjali as a big disruption two years back versus now has reduced significantly. Now with this 10-20 percent correction, a lot of that froth has gone. Maybe 4-5 percent correction in some of the more expensive names like Unilever, Nestle can still happen but currently our top picks will be essentially Dabur and ITC in the consumer staple and in the discretionary we like Jubilant Food,” he said.
“FMCG continues to remain one of the best sectors from a defensive point of view,” he added.