More consumer-centric companies are looking to capitalize on India's booming stock market and strong economic growth, by going public.
More consumer-centric companies are looking to capitalize on India's booming stock market and strong economic growth, by going public., according to a report by BMI, backed by strong growth from consumer-focused companies in sectors ranging from healthcare, transportation and consumer staples. "The first leg of the consumption story was for big ticket items like cars, but the momentum is slowly shifting to consumer staples. So a lot of the smaller ticket consumption is is now gaining momentum," he added.Consumer names looking to go public include Softbank-backed food delivery platform Swiggy, which reportedly filed for an IPO on Sept.
Among the listings from this theme is PN Gadgil Jewellers which listed on both Indian stock exchanges this month, and made a strong debut on the bourses. The company listed at 834 Indian rupees on the Bombay Stock Exchange and 830 Indian rupees on the National Stock Exchange.Jewelry spending typically peaks during Dhanteras — a day that's considered auspicious to buy gold.
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