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Dr Reddy's Laboratories CEO on becoming a market leader in India
  + stars: | 2024-11-07 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDr Reddy's Laboratories CEO on becoming a market leader in IndiaErez Israeli, CEO of Dr Reddy's Laboratories highlights the moves he is undertaking to position his company as a market leader in India. He discusses the acquisition of a nicotine replacement therapy business, a joint venture with Nestlé India, and introducing new drugs aimed at improving standards of care as part of his growth strategy.
Persons: India Erez Organizations: Reddy's, Reddy's Laboratories, Nestlé Locations: India, Nestlé India
Interest in India has been rising steadily among investors, thanks to its growing economy , strong stock market performance and burgeoning population . Amid some talk of an Indian stock market bubble , however, Pramod Gubbi, co-founder of Marcellus Investment Managers, revealed how he is playing the market. So, our job is to evaluate whether the management teams are hungry enough to identify changes that are happening and adapt to them," he told CNBC Pro last week. Women-led themes One theme that Gubbi is interested in is how India's growing numbers of working women are spending their money. Other stocks Other Indian companies Gubbi likes include Divi's Laboratories and HDFC Bank .
Persons: Pramod Gubbi, Marcellus, Gubbi, Maggi, Nescafe Organizations: Marcellus Investment, Management, CNBC Pro, Bombay Stock Exchange, Tata Group, Brands, Nestle, , Paints, Divi's Laboratories, HDFC Bank, Novartis, GSK, Merck Locations: India, U.S, China
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDr Reddy's Laboratories' CEO says Nestle has an 'amazing portfolio'Erez Israeli, CEO of Dr Reddy’s Laboratories, discusses its joint venture with Nestle India.
Persons: Reddy's, Nestle, Erez Organizations: Reddy's Laboratories, Reddy’s Laboratories, Nestle India
Which economic giant should emerging markets investors go for: China or India? India is the "best structural growth opportunity" in emerging markets, according to Malcolm Dorson, head of emerging markets strategy at Global X ETFs. LPL Financial's chief technical strategist, Adam Turnquist, added that India has emerged as an increasingly attractive alternative to China. Where and how to invest in India Investors could go for the "booming areas" in India — renewables such as hydrogen and solar energy, as well as agricultural tech, according to Sharma. But both Krosby and Dorson would advocate active management in emerging markets such as India, given political and economic complexities, among other reasons.
Persons: Malcolm Dorson, Morgan Stanley, Dorson, Quincy Krosby, Krosby, LPL, Adam Turnquist, Alejandra Grindal, Ned Davis, Rahul Sen Sharma, Sharma, Morningstar Organizations: Shenzhen Component, CNBC, Global, Chinese Communist Party, LPL, Ned, Ned Davis Research, India Investors, India, Hindustan Unilever, Nestle India, Jewelry, India Active Locations: China, India, Shenzhen, Asia, Beijing
India's ITC misses profit estimates as competition, costs rise
  + stars: | 2023-10-19 | by ( ) www.reuters.com   time to read: +2 min
REUTERS/Vivek Prakash/File Photo Acquire Licensing RightsBENGALURU/CHENNAI, Oct 19 (Reuters) - India's ITC (ITC.NS) reported a smaller-than-expected rise in its second-quarter profit on Thursday, as the consumer goods major grappled with stiff competition from smaller rivals and higher prices of some commodities. Dove-soapmaker Hindustan Unilever said earlier in the day it lost some market share in its mass segment - comprising lower-priced products - due to competition. The tobacco-to-hotels conglomerate's profit still rose 10% to 49.27 billion rupees ($592.81 million), but missed analysts' average estimate of 49.54 billion rupees, according to data from LSEG. Revenue from operations rose 3% to 177.05 billion rupees, helped by a 10% surge in its cigarettes business. Other consumer goods majors Nestle India (NEST.NS) and Hindustan Unilever eased past quarterly earnings estimates earlier on Thursday, as city dwellers spent more on affordable pick-me-ups like cookies and coffee.
Persons: Vivek Prakash, Shirish Pardeshi, Navamya Ganesh Acharya, Varun, Anil D'Silva Organizations: ITC, REUTERS, Hindustan Unilever, Centrum Broking, Nestle India, Varun Vyas, Thomson Locations: Mumbai, BENGALURU, CHENNAI, LSEG ., Bengaluru, Praveen, Chennai
Major economies were hit by higher inflation during the Covid-19 pandemic, but India's inflation was already elevated. In June, India's inflation rate was 4.81%, which remains within the Reserve Bank of India's tolerance band of 2% to 6%. There is a paradigm shift and flight of capital from Indian households savings to equity to contribute to the India growth story," Azeez told CNBC's "Squawk Box Asia" last week. "So whichever way one looks at the economic numbers, India appears as an oasis in the global desert," he added. watch nowHowever, Matthew Asia's Mittal said that instead of buying into pharmaceutical companies, upstream companies such as Syngene will be a good investment opportunity.
Persons: Goldman Sachs, Darren Robb, Feroze Azeez, Anand, Azeez, CNBC's, Nifty, it'll, Soumya Rajan, Peeyush Mittal, Nilesh Shah, Shah, Financials, Rajan, Waterfield's Rajan, We've, we've, Hindenburg, Matthews, Mittal, India's, Nestle, Kotak's Shah, Punit Paranjpe, Matthew Asia's Mittal Organizations: Bank, Getty, Wealth, Reserve Bank, Monetary Fund, Waterfield, Matthews Asia, CNBC, Mahindra Asset Management, IDFC, IDFC Ltd, HDFC Bank, Housing Development Finance Corporation, India's HDFC Bank, ICICI Bank, Bajaj Finance, Mahindra Finance, Nestle, World Bank, Nurphoto, Hindustan Unilever, Britannia Industries, Manufacturing Global, Godrej Aerospace, Afp Locations: India, United Kingdom, Japan, Mumbai, China, Nestle India, LuLu, Lulu, Kerala
BENGALURU, Oct 19 (Reuters) - Nestle India (NEST.NS) reported a bigger-than-expected rise in third-quarter profit on Wednesday, benefiting from price increases and a rebound in demand for its chocolates and packaged foods in rural areas. The Maggi noodles maker's profit rose 8.3% to 6.68 billion Indian rupees ($81.1 million) in the quarter ended Sept. 30. Analysts on average were expecting a profit of 6.57 billion rupees, according to IBES data from Refinitiv. "Growth has been very strong in the large metros and mega cities and continued to be robust across smaller town classes, including rural markets," Nestle India Managing Director Suresh Narayanan said in a statement. However, analysts says that certain categories, including noodles and biscuits, defied the trend as people consider such items small treats during economic downturns, adding to Nestle's resilient urban sales momentum.
BENGALURU, Oct 19 (Reuters) - Indian shares surrendered some of their earlier gains to close slightly higher on Wednesday as Nestle India's strong earnings boost consumer stocks, though lingering fears of high inflation and interest rates on corporate profits capped the increase. The NSE Nifty 50 index (.NSEI) ended up 0.14% at 17,512.25, while the S&P BSE Sensex (.BSESN) climbed 0.25% to 59,107.19. The Nifty fast-moving consumer goods (FMCG) index (.NIFTYFMCG) gained 0.4%, led by a 1.8% jump in Nestle India (NEST.NS) after the consumer giant reported a bigger-than-expected rise in third-quarter profit. Support for markets is seen coming from domestic investors buying, even as foreign institutional investors sold shares. Foreign institutional investors sold a net of 1.53 billion Indian rupees ($18.6 million) worth of equities on Tuesday, while domestic investors bought 20.85 billion rupees worth of shares, as per provisional data available with the NSE.
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