Godrej Consumer Products fell nearly 9%, leading a fall in FMCG stocks. Tata Consumer Products slumped 4.1% while Marico, Hindustan Unilever and Dabur shed over 3% each. Colgate Palmolive tumbled 2.9% while Nestle and Britannia Industries fell over 1.5%. ITC closed 1.26% lower.
Banks unlikely to reduce deposit rates despite RBI easing
Following the latest repo rate decrease, bankers foresee only slight adjustments to deposit rates. The landscape, characterized by sluggish savings yields and elevated credit-deposit ratios,