Hindustan Unilever (HUL) is trading lower by 3% at Rs 609 after its parent company Unilever said it expects underlying sales growth of 3 to 3.5% in July-September quarter due to weakening in the market growth of many emerging countries.
The emerging market slow-down has accelerated as a result of significant currency weakening. Developed markets remain flat to down, Unilever said in a press release.
In April-June quarter, Unilever had reported underlying sales growth of 5% with volume growth of 3%, while HUL’s domestic consumer business grew at 7% with 4% underlying volume growth.
The stock opened at Rs 630 and hit a low of Rs 607 in early noon deals on the NSE. A combined 847,000 shares have changed hands on the counter till 1055 hours on BSE and NSE.
The emerging market slow-down has accelerated as a result of significant currency weakening. Developed markets remain flat to down, Unilever said in a press release.
In April-June quarter, Unilever had reported underlying sales growth of 5% with volume growth of 3%, while HUL’s domestic consumer business grew at 7% with 4% underlying volume growth.
The stock opened at Rs 630 and hit a low of Rs 607 in early noon deals on the NSE. A combined 847,000 shares have changed hands on the counter till 1055 hours on BSE and NSE.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%