Hindustan Unilever (HUL) has declined 3% to Rs 222 in intraday deals, near to its one-year low on concerns about a renewed price war emerging in the detergents category. The stock has shed around 7% in last two days.
The counter opened at Rs 227 and touched low of low Rs 221. It has seen huge volumes with as many as 833,000 equity shares changing hands so far as compared to an average 287,000 shares that were traded in last two weeks.
According to reports, the company's competitor Procter & Gamble raised the weight of its 'Tide Naturals' detergent powder by 25%, effectively offering consumers lower pricing.
A 25% increase in grammage implies that a 200-gram pack of Tide Naturals, which costs Rs 10, will now have an additional 50 grams. So, a 250-gram pack will now cost Rs 10. The same goes for the 400-gram pack of Tide Naturals, which will now have an additional 100 grams, at Rs 20 only.
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