What is your sense about consumer driven names and the stocks that you may like?
Ajay Bodke: We are constructive on the consumer sector and the three stocks our analyst recommend to investors with a medium term perspective in the sector are Britannia, Colgate Palmolive and ITC.
We have been positive on Britannia for the last year and a half and we still feel that there is tremendous value from a medium term perspective.
The other company in FMCG we are positive on is Colgate Palmolive and there, we are expecting a revenue growth of 16.5% CAGR over this year and next year and a strong 18.5% earnings growth next year followed by 24% growth in earnings in 2016.
ITC has underperformed massively as compared to the other players because of various concerns but we believe that the stock has become so inexpensive that one can start accumulating the stock although there is a concern about the hike in excise duties but the market more or less is discounted a hike in excise duties.
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