India's consumer good sector is on track to deliver sales and operating profit at an average compound annual growth rate of 13 percent between 2011 to 2025, Goldman Sachs says in a note dated on Tuesday.
Goldman says estimates are based on assuming per capita consumption in India would reach the levels of China in 2025.
Within consumer goods, Goldman says skin care, quick service restaurants and jewellery will exceed sector growth, while detergents, oral care and personal wash will lag.
Goldman thus initiates coverage of Jubilant Foodworks , which operates the Domino's pizza chain in India, with a 'buy' rating and a 12-month target price of 1,704 rupees. & The investment bank also maintains 'buy' ratings on cigarette maker ITC and personal care products maker Marico Ltd .