Directory Image
This website uses cookies to improve user experience. By using our website you consent to all cookies in accordance with our Privacy Policy.

Top sector gainers today – Banks and FMCG Beverages

Author: Bappaditta Jana
by Bappaditta Jana
Posted: Sep 16, 2016

The dawn of 16th September saw the rise of the Banking and FMCG Beverage Sectors. The Banking Sector stocks rallied up 1.92 per cent while the FMCG Beverage Sector stocks surged 2.48 per cent.

Banking Sector:Yesterday, a US data showed that factory orders and retail sales were below market expectations. This led to a rise in US markets as the possibility of rate hike by the Fed has almost been ruled out. In the morning today, Indian markets opened a gap up (30 points plus) and the market continued to show an upward movement.Bank stocks are high beta stocks. Beta can be defined as the measure of volatility, or systematic risk, of a security or a portfolio when compared to the market as a whole. In the last three days, banking stocks were underperforming against Nifty. However, since morning banking stocks are up with the hope that there will be a rate cut by the Reserve Bank of India (RBI) this year.Today, PSU banks have a meeting with the Finance Minister on review of the NPA and Q1 performance of the PSU banks.

The top 4 performing stocks in the Banking Sector today are as follows:

SL No. Name of the BankTrading %1 Punjab National Bank2.34%2Bank of Baroda2.20%3Bank of India2.56%4Federal Bank2.10% FMCG Beverage Sector:

The top 4 performing stocks in the FMCG Beverage Sector today are as follows:

SL No. FMCG- Beverage Sector Stock NamesTrading %1 United Breweries Limited7.47%2GM Breweries Limited5.77%3Radico Khaitan Limited3.21%4Pincon Spirit Limited4.54% On 14th September an announcement was made that the FSSAI – Food Safety and Standards Authority of India has come up with draft regulations for alcoholic beverages, laying down standards which the products will have to comply with before it seeks approval. Alcoholic beverages such as vodka, brandy, rum and wine will soon have to pass through a regulatory scanner before it enters the market. Once alcohol gets a stamp of FSSAI, the beverage industry is bound to boost and the ascension already began this morning when the FMCG Beverage Sector stocks were seen going up.

The draft Food Safety and Standards (Alcoholic Beverages Standards) Regulations, 2016, define an alcoholic beverage as a ‘beverage or a liquor or brew comprising more than 0.5 per cent ethyl alcohol or ethanol by volume as the active agent. The ethyl alcohol which is used in the manufacture of alcoholic beverages shall be of agricultural origin’. It can either be a distilled alcoholic beverage or one which is not distilled.

For the very first time, the government has standardised alcohol as "a consumable" beyond the purposes for excise tax. FSSAI has invited comments of stakeholders on the draft standards by 9th October, following which they shall be notified. The draft regulations have clearly listed out the requirements for each of the product category. Apart from this, it has also penned down specific labelling requirements for alcoholic beverages which include declaration of alcohol content by volume with its geographical designation or names allowed to be utilised only for products having their origin strictly from that geographical location and an obligatory allergen warning. As far as imported alcoholic beverages are concerned, products will have to carry the FSSAI logo and license number along with both the name and address of the importer. The proposed regulations have also barred any nutritional information on the label of alcoholic beverage.

About the Author

A writer by day and a passionate reader by night. Writing just doesn't fill my pocket but it also fills my heart. Passion for writing about new events & happenings is what soothes my mind & soul.

Rate this Article
Leave a Comment
Author Thumbnail
I Agree:
Comment 
Pictures
Author: Bappaditta Jana

Bappaditta Jana

Member since: Jun 26, 2016
Published articles: 280

Related Articles