Parle Buyout Rumours Prop Up Hll

Market operators today made a sudden U-turn to focus their attention on FMCG major Hindustan Lever Ltd (HLL) pushing up the share price by 3.34 per cent to close at Rs 230.65 on the BSE after the scrip touched an intra-day high of Rs 233.50. More than 16.55 lakh shares changed hands today. Since HLL is a Sensex heavy-weight, high-level operator activity saw the benchmark index zoom during the day. The rise in the HLL scrip was aided by the rumours that the FMCG major is set to acquire Parle, a Mumbai-based biscuit company.

However, neither companies have confirmed the rumours. In the last 16 trading sessions, the HLL scrip has risen by 6.08 per cent, to Rs 223.20 on February 7, 2002 from Rs 210.40 on 16 January 2002. In the same period, volumes reached a high of 9.65 lakh shares on February 7, 2002, and a low of 1.85 lakh shares on February 5, 2002.

 

As per reports, the company has introduced 125 gm Lifebouy soap at Rs 9, in place of the earlier 150 gm pack priced at Rs 8.50.

Lifebuoy is among the company