HUL slips 2% as it reduces prices of Lux, Lifebuoy and Dove soaps

For the quarter ended June 30, 2019, the FMCG bellwether reported 15 per cent year-on-year (YoY) growth in its net profit at Rs 1,755 crore.

Shares of Hindustan Unilever (HUL) slipped as much as 2 per cent to Rs 1,824.15 apiece on the BSE in the early morning trade on Wednesday after the company said it has cut prices of its Lux, Lifebuoy and Dove soaps in the past month following muted growth in the category.

At 09:55 am, the stock was trading 1.65 per cent lower at Rs 1,830.90 apiece on the BSE. In comparison, the benchmark S&P BSE Sensex was ruling at 37,551.90 levels, down 89 points or 0.24 per cent. 

“HUL does selective and judicious price changes across its portfolio in the