Crates of piggy banks. (Photographer: Billy H.C. Kwok/Bloomberg)
Consumer stocks aren’t cheap and will never be. But growth certainty in some less-penetrated pockets and stocks will give higher valuations in the future, according to Gautam Duggad, head of research at Motilal Oswal.The Covid-19 pandemic has created a permanent shift in consumer behaviour, he said, where consumers prefer large, trusted brands, auguring well for such consumption stocks. Great earnings visibility, pricing power, healt...