HUL drops on profit booking

Hindustan Unilever lost 1.41% to Rs 592.55 at 11:44 IST on BSE, with the stock sliding on profit booking after recent rally.

Meanwhile, the S&P BSE Sensex was up 53.44 points or 0.22% at 24,738.29.

On BSE, so far 64,000 shares were traded in the counter as against average daily volume of 1.66 lakh shares in the past two weeks.

The stock hit a high of Rs 605.90 and a low of Rs 591 so far during the day.

Shares of Hindustan Unilever had rallied 7.88% in two trading sessions to settle at Rs 601.05 on Monday, 2 June 2014, from a recent low of Rs 557.10 on 29 May 2014.

Hindustan Unilever's net profit rose 10.8% to Rs 872.13 crore on 8.9% growth in net sales to Rs 6935.82 crore in Q4 March 2014 over Q4 March 2013.

Hindustan Unilever 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.

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