This has been a sector which has been in a strong trend. We last covered it a year back – Sector in Focus – FMCG - They have been leaders apart from ITC being a major laggard.
Now we are looking at a potential momentum and breakout in ITC in coming weeks if it can take out the 275-285 resistance.
Godrej Consumer on the other hand has broken out into All Time Highs… Showing strong momentum.
Just a quick update on Hotels – We have been bullish on Hotels as sector for the last few months - Sector in Focus–Hotels–Sinclairs Hotels, Indian Hotels,EIH Limited, EIH Associated Hotels, Kamat Hotels, Advani Hotels, Royal Orchid Hotels
The breakout move in last 2 days is a strong indication of momentum building up with many stocks crossing all time highs. Continue to remain bullish and believe the trends in ARRs and Occupancy Ratio could last much longer than what people expect it to.
Disclosure – Invested in Hotels and Biased. Please do your own research.
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SEBI Registration disclosure – Investment Adviser ( INA000002991)
Nooresh Merani and his family/associates/ analysts do have exposure in the securities mentioned in the above report/article. ( Sinclairs Hotels )
Nooresh Merani and his family/associates/ analysts do not have any financial interest/beneficial ownership of more than 1% in the company covered by Analyst.
Nooresh Merani and his family/associates/ analysts have not received any compensation from the company/third party covered in the above report/article ever.
Nooresh Merani and his family/associates/ analysts has not served as an officer, director or employee of company covered in the report/article and has not been engaged in market-making activity of the company covered in the report/article.
The views expressed are based solely on information available publicly and believed to be true. Investors are advised to independently evaluate the market conditions/risks involved before making any investment decision