HUL gains as parent hikes stake

Meanwhile, the S&P BSE Sensex was up 92.43 points or 0.46% at 20,050.90.

On BSE, 1.68 lakh shares were traded in the counter as against average daily volume of 3.01 lakh shares in the past one quarter.

The stock hit a high of Rs 618 and a low of Rs 596 so far during the day. The stock had hit a record high of Rs 631.95 on 5 July 2013. The stock had hit a 52-week low of Rs 432.25 on 7 March 2013.

The stock had underperformed the market over the past one month till 12 July 2013, rising 1.31% as compared to the Sensex's 4.82% rise. The stock had, however, outperformed the market in the past one quarter, jumping 25.82% as compared to the Sensex's 9.41% surge.

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

Hindustan Unilever's (HUL) parent Unilever PLC on 11 July 2013 said that pursuant to the voluntary open offer to increase its stake in HUL, the shareholders of HUL tendered a total of 31.99 crore shares, out of which 31.95 crore shares have been accepted by Unilever PLC on completion of the verification of the shares tendered. Based on the shares tendered which represent 14.78% of HUL, the Unilever Group will increase its stake in HUL from 52.48% to 67.26%.

The offer of Rs 600 per share values the transaction at approximately Rs 19174 crore, Unilever PLC said. The payment for shares accepted will be completed on or before 18 July 2013, at which point Unilever PLC will acquire full beneficial ownership of the shares accepted in the open offer.

HUL's net profit rose 14.7% to Rs 787.20 crore on 12.5% growth in net sales to Rs 6367.14 crore in Q4 March 2013 over Q4 March 2012.

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.

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