HUL corrects on profit booking

Hindustan Unilever fell 1.34% to Rs 575.80 at 12:20 IST on BSE on profit booking after the stock surged 25.46% in the preceding two trading sessions to Rs 583.60 on 30 April 2013 from a recent low of Rs 465.15 on 26 April 2013.

Meanwhile, the BSE Sensex was up 233.26 points, or 1.20%, to 19,737.44.

On BSE, 2.79 lakh shares were traded in the counter as against an average daily volume of 2.01 lakh shares in the past one quarter.

The stock hit a high of Rs 582 and a low of Rs 574.40 so far during the day. The stock had hit a record high of Rs 597 on 30 April 2013. The stock had hit a 52-week low of Rs 406.50 on 5 June 2012.

The stock had outperformed the market over the past one month till 30 April 2013, rising 25.21% compared with the Sensex's 3.55% rise. The scrip had also outperformed the market in past one quarter, gaining 22.16% as against Sensex's 2.50% fall.

India's largest FMCG company by sales has an equity capital of Rs 216.25 crore. Face value per share is Re 1.

FMCG major Hindustan Unilever (HUL) surged 17.28% to Rs 583.60 on Tuesday, 30 April 2013, after the company's foreign parent Unilever PLC on that day announced an open offer to acquire additional 48.70 crore shares, or 22.52% stake in Hindustan Unilever at Rs 600 per share.

As on 31 March 2013, foreign promoters held 52.48% stake in HUL. After the open offer, holding of foreign promoters will rise to 75% in HUL.

HUL stock had vaulted 6.98% to Rs 497.60 on Monday on good Q4 results. HUL's net profit before exceptional items rose 18% to Rs 781 crore on 12.13% growth in total income from operations to Rs 6465.81 crore in Q4 March 2013 over Q4 March 2012. The company announced the Q4 results during market hours on Monday, 29 April 2013.

HUL is India's largest FMCG company in terms of sales with over 35 brands spanning 20 distinct categories such as soaps, detergents, shampoos, skin care, toothpastes, deodorants, cosmetics, tea, coffee, packaged foods, ice cream, and water purifiers. HUL is a subsidiary of Unilever Plc, one of the world's leading suppliers of fast moving consumer goods with strong local roots in more than 100 countries across the globe.

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