HUL edges higher on reports foreign bank upgrades stock

Hindustan Unilever rose 0.2% to Rs 762.25 at 12:20 IST on BSE after reports that a foreign investment bank upgraded the stock to buy from hold and also raised its target price for the stock.

Meanwhile, the BSE Sensex was down 617.18 points, or 2.22%, to 27,225.14.

On BSE, so far 71,599 shares were traded in the counter, compared with an average volume of 74,354 shares in the past one quarter.

The stock hit a high of Rs 768.55 and a low of Rs 755.75 so far during the day. The stock hit a record high of Rs 828.75 on 8 December 2014. The stock hit a 52-week low of Rs 536 on 15 January 2014.

The stock had underperformed the market over the past one month till 5 January 2015, falling 7.22% compared with 2.16% fall in the Sensex. The scrip had also underperformed the market in past one quarter, gaining 3.49% as against Sensex's 4.8% rise.

The large-cap FMCG company has an equity capital of Rs 216.32 crore. Face value per share is Re 1.

Hindustan Unilever's net profit rose 8.1% to Rs 988.16 crore on 11.4% rise in total income to Rs 7885.81 crore in Q2 September 2014 over Q2 September 2013.

Powered by Capital Market - Live News