Packaged food firms may witness growth rebound soon, say analysts

Investor sentiment towards packaged food majors — Nestlé, Britannia Industries (Britannia), and ITC — has taken a hit, following reports and notes by brokerages on slowing sales growth of packaged/read-to-eat products in August. The impact was relatively sharper on Britannia and Nestlé, given their pricey valuations. While ITC fell 2 per cent on Monday, Britannia and Nestlé shed over 4 per cent each. The benchmark Sensex also lost 2.1 per cent. Analysts, however, do not see this as a major concern and believe corrections could be bought into. Sachin.....

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