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Shares of Hindustan Unilever were buoyed by analyst comments. The stock climbed as much as 1.7 per cent to Rs 1,597.10, its biggest intraday percentage gain since May 31.
Credit Suisse has raised the price target to Rs 1,750 from Rs 1,675, and it has maintained “outperform” rating.
At its annual analyst meet on Wednesday, HLL showcased cutting edge work within the FMCG industry on digital and data analytics, and how it is reshaping new age marketing ... this could be an advantage for HLL against existing competitors, Credit Suisse says in a note.
Jefferies is convinced of HLL's superior algorithm of delivering volume-led sales growth and driving cost efficiencies to expand margins without compromising on investments required to improve business. It has maintained “buy” rating, and a price target of Rs 1,680.
Over 267,000 shares changed hands against 30-day moving average of 1.3 million. About 26 of the 40 analysts covering the stock have a “buy” or higher rating, 8 have “hold” while 6 rate it at “sell” or lower; their median price target is Rs 1,639.50, according to Thomson Reuters data.
HLL stock had risen 43.9 per cent in 12 months up to Wednesday's close against 9.8 per cent gain in the Nifty FMCG index.
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