HUL settles at record high, GSK Consumer up 4% after board approves merger

Shares of Hindustan Unilever (HUL) and GlaxoSmithKline Consumer Healthcare (GSKCH) moved higher by up to 6% on the BSE in intra-day trade, after their respective boards approved their merger, subject to obtaining requisite approvals from statutory authorities and shareholders.

HUL settled 4.1% higher at Rs 1826 on the BSE. It had hit a new high of Rs 1,839 in intra-day trade, rising 4.9%, surpassing its previous high of Rs 1,808 touched on August 20, 2018, on the BSE in intra-day trade.

GSKCH rose 3.75% to settle at Rs 7543 on the BSE. It rallied as much as 5.7% to