HUL stock recovers after two days of blood bath

They made an ideal pick for bargain hunters

The stock of Hindustan Unilever inched up nearly two% today on the Bombay Stock Exchange (BSE) following two straight days of underperformance on the bourses. The stock rose to a day's high of Rs 470 and closed trade at Rs 468.75, up 1. 86% over the previous day's close.

HUL's stock was trading in the Rs 458-460 band following its nearly 6-7% fall two days ago post announcement of its third quarter results as well as a hike in royalty payment. This made it an ideal pick for bargain hunters, analysts said.

Nearly 3.97 lakh shares changed hands at the HUL counter today in comparison to an average of 1.81 lakh shares in the past one quarter.

India's largest fast moving consumer goods company by sales has an equity capital of Rs 221.51 crore, with a face value of  Re 1 per share.