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Manoj Menon of ICICI Securities: FMCG Growth Will Be Stock-Specific, Not a Broad Market Rally
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FMCG to be stock-specific, not broad rally: ICICI Securities' Manoj Menon
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CNBC TV18
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16-03-2026, 15:31
FMCG to be stock-specific, not broad rally: ICICI Securities' Manoj Menon
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ICICI Securities' Manoj Menon predicts the FMCG sector will see stock-specific gains, not a broad rally.
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Demand headwinds and intense competition are expected to weigh on overall sector earnings.
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Strong players like Marico, Godrej Consumer, and Tata Consumer are projected to outperform.
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Input cost pressures remain a risk, but gradual consumption recovery offers select opportunities.
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The Head-Research & Consumer Analyst emphasizes that broad-based gains are unlikely.
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