ALSO READMarkets end flat on poor macroeconomic data; Smallcap buck the trend, up 1% HUL to prune workforce in line with Unilever directive Hindustan Unilever hits new high; surpasses SBI in m-cap ranking HUL may not toe parent's line on F&B, say analysts Indo-Pak tensions drag markets: Nifty ends below 9400, Sensex drops 200 pts
Other companies like Biocon, Birla Corporation, Dalima Bharat, Future Consumer, OCL India, Quess Corp and Tata Investment Corporation from the Nifty 500 and S&P BSE 500 indices hit their record highs too in today's trade.
HUL hit a new high of Rs 1,190, up 3% on BSE in intra-day, ahead of April-June quarter (Q1FY18) results today.
Analysts at Edelweiss Securities expect HUL to record a volume decline of around 1-2% year-on-year (YoY) on a base of 4% YoY (volumes grew 4% YoY in Q4FY17 on a base of 4% YoY) owing to impact in CSD (canteen-store-departments) sales (CSD offtake has been negligible over past 1 month – CSD contributes 5-6% of sales), destocking in wholesale channel owing to GST.
GST albeit will not impact the consumer demand but destocking by wholesalers is inevitable - share of wholesale lower for HUL and hence impact would be lower compared to many other staple companies.
“Company is expanding its focus on Herbal segment under brand Aayush which should also aid volumes to some extent. Prices have been holding well. This coupled with benign raw material prices should aid HUL in holding its margins. Further, with multiple cost reduction initiatives such as ZBB, efficiencies in ad spends, etc should cushion EBITDA,” the brokerage firm said in Q1FY18 result preview.
ACC (up 3% to Rs 1,810), along with other cement companies like Dalmia Bharat, OCL India and Birla Corporation (up 1% each) hit record high after ACC reported a good set of numbers for the quarter ended June.
ACC reported an about 33% rise in June-quarter consolidated profit at Rs 326 crore, boosted by higher cement sales volume.
The company's cement sales volume rose 10.1% to 6.74 million tons in the quarter, it said in a statement on Monday.
Future Consumers zoomed 11% to 42.50, on back of over four-fold jump in trading volumes. A combined 18.41 million equity shares changed hands on the counter on BSE and NSE so far.
The S&P BSE Sensex was down 0.78% at 31,825, while Nifty 50 index trading 0.61% lower at 9,855 at 12:07 pm.
|COMPANY||LATEST||ALL TIME HIGH||PREV HIGH||PREV DATE|
|POWER GRID CORPN||219.70||220.00||217.90||13-Jul-17|