Q1 impact: Hindustan Unilever can rally to Rs 3,000-mark, indicates chart

The HUL chart has seen breakout of the 'Inverse Head and Shoulder' after the stock conquered the Rs 2,400-level, thus indicating an upside target of Rs 3,000 in the medium-term.

The oldest and one of the largest Fast Moving Consumer Goods (FMCG) company, Hindustan Unilever beat street estimates by recording a 13.5 per cent yearly growth in net profit at Rs 2,391 crore for the June quarter.

Revenue too on a consolidated basis were above estimates. It rose 19.6 per cent YoY to Rs 14,357 crore in Q1FY23 as against Rs 12,004 crore a year ago. READ MORE

Technically, here's how the stock can perform in the near term:

Hindustan Unilever Ltd (HINDUNILVR)

Likely target: Rs 3,000

Upside potential: 15%

Shares of Hindustan Unilever are just 9 per