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Nirmal Bang Report
Most commodities have seen a significant correction from their peak levels while prices of a few commodities such as liquid paraffin, wheat flour, glass, etc. remain elevated on a YoY basis.
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Since there has not been any linear decline in prices, gross margin trends are expected to remain divergent across companies going forward as well.
Our top picks: On one- year forward basis, we continue to remain bullish on ITC Ltd., Hindustan Unilever Ltd. and Britannia Industries Ltd. We also continue to remain structurally positive on Tata Consumer Products Ltd. and Westlife Foodworld Ltd.
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