Hindustan Unilever hits 52-week low; declines 14% in nine days

Hindustan Unilever slumped 5.17% to Rs 1,983.55, extending its losing run to ninth consecutive trading session.

Shares of Hindustan Unilever have declined 14.2% in nine trading sessions from its previous closing high of Rs 2,312 posted on 18 February 2022. The counter has fallen nearly 30.6% from its 52-week high of Rs 2859.10 hit on 21 September 2021. The stock hit a 52-week low of Rs 1,982 in intraday today.

In one month, the stock has fallen 14% as compared to a 7.7% fall in Nifty 50 index.

On the technical front, the stock's RSI (relative strength index) stood at 20.169. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.

The stock is trading above its 50 and 100 days simple moving average placed at 2297.96 and 2350.13 respectively. These levels will act as crucial resistance zones in near term.

HUL manufactures branded and packaged consumer products including soap, detergent, personal care products and processed food

The FMCG major posted 16.76% rise in standalone net profit to Rs 2,243 crore on 10.43% increase in revenue from operations to Rs 12,900 crore in Q3 FY22 over Q3 FY21.

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