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Shares of Hindustan Unilever surged to a 52-week high ahead of the third quarter results, following which the company's market capitalisation reached Rs 3 lakh crore.
After opening strong at Rs 1,365, the stock touched a 52-week high of Rs 1,388.45, up 1.56 per cent over its previous closing price. On the NSE, the stock opened at Rs 1,369.30, then gained further ground to touch a 52-week high of Rs 1,389.50. Following the uptick in the counter, the market capitalisation of the company reached Rs 3 lakh crore in intraday trade.
“A meeting of the board of directors of the company will be held on Wednesday, January 17, 2018, at Mumbai to take on record the unaudited financial results for the quarter ended December 31, 2017 along with the limited review report of the auditors for the corresponding period,” HUL had said in a regulatory filing on January 8.
According to an Edelweiss Securities report, HUL is expected to report significant jump in volume growth. “We expect HUL to record a volume growth of around 11 per cent,” Edelweiss Securities had said in a research note.
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