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Unilever cuts sales guidance as growth concerns in India market remain

"In the last month and a half, HUL's stock price has corrected from levels of about Rs 2,179 per share to Rs 1,964 now"

Viveat Susan Pinto  |  Mumbai 

Unilever, the world’s second-largest consumer goods company, has cut its sales guidance for calendar years 2019 and 2020 amid growth concerns in India, its largest market by volume and second-largest by value.

The unscheduled sales update on Tuesday, which said underlying sales growth would be below guidance in 2019 and in the first half of 2020 because of a slowdown in South Asia and weakness in West Africa, sent Unilever’s stock price tumbling 6.6 per cent in Amsterdam, its steepest decline in three years. The Indian investor response, however, was muted to the ...

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First Published: Wed, December 18 2019. 02:11 IST
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