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Shares of Hindustan Unilever Ltd rose as much as 3.5 per cent to Rs 1,660.80, their highest in over two weeks. The stock posted biggest intraday percentage gain since May 16. Nearly 1.4 million shares exchanged hands, compared with 30-day moving average of 1.4 million shares.
Q2 will largely be a comparable quarter after seven quarters; demand environment continues to sustain in line with the previous quarters, Deutsche Bank Research analysts say after an analyst meet.
HLL has raised prices in home care portfolio to offset the margin pressure due to rupee depreciation, while GST-related rationalisation and cost savings continue to boost margin, says Macquarie.
No major impact from Kerala floods, outlook for demand also remains strong with near normal monsoons, and pre-election spending which should boost rural consumption, CLSA says.
DB, and Macquarie have maintained their ratings on the stock. About 16 of 41 analysts covering the stock rate it “buy” or higher, 14 rate “hold”, 11 rate “sell” or lower, according to Thomson Reuters Eikon. As of last close, HUL stock had risen 17.4 per cent this year.
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