We are expecting 2-3 percent volume growth in Q2 for Dabur and Colgate, said Abneesh Roy, executive vice president -Institutional Equities, Edelweiss Securities.

“We are expecting market share gains for a lot of these companies, for example, Dabur will gain against Patanjali and some of the regional players. Similarly, Colgate now seems to be broadly growing in line with the market. Therefore, most of the companies in my space — I would expect 2-3 percent volume growth. Laggard like Emami will be flattish to minus 1 percent number in terms of volume growth,” Roy said in an interview with CNBC-TV18.

HUL reported better than expected numbers for the second quarter.

On HUL’s Q2 numbers, Roy said, "It was challenging for most consumer companies in Q2. Therefore, we do expect companies like Dabur and Colgate which have higher rural exposure to see muted volume growth in this quarter. We do not expect 5 percent volume growth, which HUL has done, for some of the rural-focused companies."

“Therefore, investors should stick to Hindustan Unilever, Marico, Britannia and Godrej Consumer Products (GCPL) kind of companies in the current context and once the rural recovery starts then investors can also have a look at Dabur and Colgate kind of companies,” he further added.