Worst may be behind for Trent, but Nuvama prefers DMart
Published on 23/04/2026 11:50 AM
Worst may be behind for Trent, but Nuvama prefers DMartAbneesh Roy, Executive Director at Nuvama Institutional Equities, highlights improving sentiment in FMCG, likely price hikes ahead, and selective opportunities across retail and consumption stocks such as Titan, V Mart, Page Industries, Bajaj Consumer Care and Marico.By Mangalam Maloo | Prashant Nair April 23, 2026, 11:50:36 AM IST (Published)2 Min ReadA recovery is building in retail and fast-moving consumer goods (FMCG), but stock selection remains key, says Abneesh Roy, Executive Director at Nuvama Institutional Equities, who prefers Avenue Supermarts (DMart).
“I think the worst seems behind for Trent,” Roy said, citing an overall revenue growth of 20% and improving visibility from price hikes and steady core demand. He, however, added, “Post-election, the petrol price hike will come, and that will put pressure on a lot of the demand side for many consumer categories. The discretionary category could see slightly more pressure versus staples.”
His conviction is stronger on DMart. “DMart is a very good compounding story… between DMart and Trent, will prefer DMart,” he said, citing expansion and staples-led growth.
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Titan Company, V-Mart Retail, and Page Industries are some of his other preferred picks.
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The bigger shift is in FMCG. “We have completely come the other way around,” Roy said, highlighting improving sentiment and sector rotation. “Price hikes will definitely happen across the board in FMCG,” though “Q1 (April-June 2026-Q1FY27) will see margin pressure.”
He cautioned against a blanket approach. “The overall investment cycles have become very short… take it quarter to quarter,” Roy said, even as he identified “buy and forget kind of stories” like Nestle India, Pidilite Industries and Asian Paints.
On emerging winners, Roy flagged turnaround plays as well. “We have a buy on Bajaj Consumer Care… very high visibility,” he said, while also backing structural stories like Marico. “We like Marico a lot… we expect that copra correction… will help Marico report good margins going ahead.”
Catch all the latest updates from the stock market hereContinue ReadingTagsAvenue SupermartsBajaj Consumer Careconsumption spaceDMartFMCG stocksMarico sharesNuvamaPage Industries sharesretail stocksTitan share priceTrent share priceVMart