Hind Lever gets block deal booster

DALAL STREET SPIKES

FMGC major HLL managed to buck the overall negative trend to end marginally high on back of a huge block deal. The stock in Tuesday's trading witnessed huge volumes of more than 60 lakh shares on the BSE, far higher than the normal volumes.

The scrip closed at Rs 121.05 after hitting the day's high of Rs 121.05. The FMGC major has been under pressure and trading in a narrow range on concerns that the company's bottomline will be affected because of price war among the rival brands.

The cautious approach is also on concerns of delayed monsoon, which can directly impact the rural demand where HLL has a huge presence, said analysts. The stock has witnessed a sharp fall over the last few months.

From Rs 202.95 on February 13, 2004, HLL has plunged to Tuesday's close of Rs 121.05.