Shares of Hindustan Unilever Ltd (HUL) and Nestle India Ltd touched new 52-highs on Wednesday in early morning deals. With stocks world-over correcting owing to the impact of covid-19, the performance of Indian consumer stocks is striking to say the least.
In comparison, shares of Unilever Plc are trading about 22% lower on London Stock Exchange compared to 52-week highs. The outperformance of Indian fast moving consumer goods (FMCG) stocks is largely driven by a flight to safety by some investors.
While foreign investors have fled the Indian stock market in droves, domestic institutions are still receiving regular flows and are buying.
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