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Hindustan Unilever (HUL), fast moving consumer goods (FMCG) company, continue at its upward march on the bourses, with the market value of the company crossing the Rs two lakh crore mark today.
HUL scrip gained 2.4% to Rs 943 on BSE, taking its market value to Rs 2,04,090 crore at 0946 hours, the BSE data shows. The company is at the ninth positions in overall market capitalization (m-cap) ranking.
The stock hit a record high of Rs 944 in intra-day trade on BSE today, rallied 25% in past 10 trading sessions from Rs 756 on January 2, 2015. The benchmark S&P BSE Sensex gained 0.54%, while FMCG sector index up 4.2% during the same period.
Nidhi Saraswat, Senior Research Analyst (Fundamental), Bonanza Portfolio said, ““HUL saw a strong surge in last 6 trading sessions and strong volumes were also witnessed. Buying interest in the stock can be attributed to the upcoming third quarterly results on 19th January.”
“Positive upgrades from various houses have further boosted consumer sentiment. Other FMCG stocks like Marico and Nestle also saw buying interest. As markets are showing resistance at higher levels, investment in FMCG could be a safe bet as they have been consistent performers in long run,” she adds.
Meanwhile, HUL has surpassed the private sector lender ICICI Bank in overall m-cap ranking, which is at 10th position with m-cap of Rs 202,692 crore, data shows.
HUL is now stands ahead of Coal India, the country's largest coal miner, which at eight in overall m-cap ranking having m-cap of Rs 234,685 crore.
HUL scrip gained 2.4% to Rs 943 on BSE, taking its market value to Rs 2,04,090 crore at 0946 hours, the BSE data shows. The company is at the ninth positions in overall market capitalization (m-cap) ranking.
The stock hit a record high of Rs 944 in intra-day trade on BSE today, rallied 25% in past 10 trading sessions from Rs 756 on January 2, 2015. The benchmark S&P BSE Sensex gained 0.54%, while FMCG sector index up 4.2% during the same period.
Nidhi Saraswat, Senior Research Analyst (Fundamental), Bonanza Portfolio said, ““HUL saw a strong surge in last 6 trading sessions and strong volumes were also witnessed. Buying interest in the stock can be attributed to the upcoming third quarterly results on 19th January.”
“Positive upgrades from various houses have further boosted consumer sentiment. Other FMCG stocks like Marico and Nestle also saw buying interest. As markets are showing resistance at higher levels, investment in FMCG could be a safe bet as they have been consistent performers in long run,” she adds.
Meanwhile, HUL has surpassed the private sector lender ICICI Bank in overall m-cap ranking, which is at 10th position with m-cap of Rs 202,692 crore, data shows.
HUL is now stands ahead of Coal India, the country's largest coal miner, which at eight in overall m-cap ranking having m-cap of Rs 234,685 crore.
