HLL down 4 per cent on results' eve blues

DALAL STREET SPIKES

FMCG major Hindustan Lever Ltd(HLL) witnessed selling pressure ahead of the company's Q4 result announcement. The stock of the FMGC major lost nearly four per cent in yesterday's trading, pushing the Sensex down at close.

Market analysts said there were concerns that the company would announce disappointing quarterly numbers. More than 13 lakh shares were traded on BSE on Thursday. With yesterday's fall, the stock has fallen 10 per cent from the February 4 high of Rs 170.20.

However, few domestic broking firms are bullish on the FMGC sector on back of domestic demand lead growth for most of the companies.

Meanwhile, MS Banga, has been elevated to the apex management team of Unilever. He is appointed as president, foods division.