FIIs dump Indian consumer stocks despite tax cut boost

Meanwhile, spending during the festival season between Sept. 22 and Oct. 21 increased 8.5% from the same time last year, according to data from retail intelligence platform Bizom shared with Bloomberg News. Positions were “notably reduced” compared with both the previous quarter and year-ago levels, Morgan Stanley analysts including Sheela Rathi wrote in a note. Of stocks under their coverage, Trent Ltd. and BrainBees Solutions Ltd. were among those with the largest reductions.Meanwhile, spending during the ...