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Green shoots emerging in rural markets, says BOBCAPS

Brokerage firm BOBCAPS has observed that green shoots are emerging in rural markets, which will benefit companies such as Britannia Industries and Nestle India. 

BOBCAPS has recommended a buy rating for Britannia Industries with a target price of 5,623 rupees and Nestle India with a target price of 22,860 rupees. 

According to BOBCAPS, its channel checks with key players in the FMCG supply chain indicate that the revival in rural markets has continued in the current quarter.

Rural consumption has started to recover due to policy measures such as wage hikes under the MGNREGA scheme, free food grains, and higher budget allocation for infrastructure development. 

BOBCAPS believes that inflation headwinds have started to moderate from the second quarter of FY23. 

The brokerage firm believes that companies with strong product portfolios, a large rural presence, and localised marketing strategies are gaining market share.

Britannia Industries and Nestle India are BOBCAPS' top picks from the consumption space due to their deepened rural footprint.

Click here to know more about what BOBCAPS says about rural recovery

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Green shoots emerging in rural markets, says BOBCAPS; find out more

A respite from inflation and strong winter crop sowing should boost consumption in these markets, said BOBCAPS.

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