HUL gains on UBS upgrades
UBS upgraded HUL shares to "buy" from "neutral" and raised its target price to Rs 540 from Rs 500.
Hindustan Unilever (HUL) is trading higher by 2.1% at Rs 463 after the UBS upgraded the stock to ‘Buy” from “Neutral”.
The stock opened at Rs 454 and touched high of Rs 463 on NSE. Around 800,000 shares have changed hands on the counter till 1103 hours on NSE and BSE.
“UBS upgraded HUL shares to "buy" from "neutral" and raised its target price to Rs 540 from Rs 500, citing expectations for a "strong" business outlook and the prospect of rising volumes for its products,” the Reuters report suggests.
Meanwhile, the stock of personal products maker has outperformed the market by surging 7.2% from its recent low of Rs 433 on March 7, compared to 2.2% fall in benchmark Nifty.
The stock opened at Rs 454 and touched high of Rs 463 on NSE. Around 800,000 shares have changed hands on the counter till 1103 hours on NSE and BSE.
“UBS upgraded HUL shares to "buy" from "neutral" and raised its target price to Rs 540 from Rs 500, citing expectations for a "strong" business outlook and the prospect of rising volumes for its products,” the Reuters report suggests.
Meanwhile, the stock of personal products maker has outperformed the market by surging 7.2% from its recent low of Rs 433 on March 7, compared to 2.2% fall in benchmark Nifty.