Brokerages remain hooked to HUL post Q4 numbers, eye up to 24% upside

Following the results, most brokerages retained their bullish stance on the stock and advised either buying or holding it

Shares of Hindustan Unilever (HUL) slipped 3 per cent to Rs 2,331 on the BSE in Friday's session, a day after the fast-moving consumer goods (FMCG) maker reported its March quarter results.  

While the company's performance in the fourth quarter of the financial year 2020-21 (Q4FY21) was better than Street's estimates, analysts flagged Covid-19-led disruption, raw material inflation and higher-than-anticipated tax rates as near-term challenges. Brokerage JM Financial said it expects the stock to remain rangebound in the absence of any firm trigger. 

The company on Thursday reported Q4 standalone net profit at Rs 2,143 crore, up 41.07 per cent