The stock market is right now in a most unpredictable place. Yet, at times, it displays textbook behavior. All through 2024, even as there were several instances of mayhem on the street, one narrative held firm. That FMCG stocks will do well because money is moving into defensive stocks. One question: How can FMCG companies, considered defensive stocks way back in 1994 and 2000 when the Indian economy was just opening up, still be considered the
