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HUL drops in early trade

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was down 0.72% to Rs 999.15 at 9:35 on amid volatility after the company announced Q4 March 2017 after market hours yesterday, 17 May 2017.

Meanwhile, the S&P Sensex was down 111.09 points or 0.36% at 30,547.68.

On the BSE, 55,000 shares were traded on the counter so far as against the average daily volumes of 1.58 lakh shares in the past one quarter. The stock had hit a high of Rs 1,014 so far during the day, which is a record high. The stock hit a low of Rs 993.35 so far during the day.

The stock had hit a 52-week low of Rs 782.95 on 23 December 2016. It had outperformed the market over the past one month till 17 May 2017, advancing 10.18% compared with the Sensex's 4.23% rise. The scrip had also outperformed the market over the past one quarter, gaining 19.47% as against the Sensex's 7.69% rise.

The large-cap company has equity capital of Rs 216.43 crore. Face value per share is Rs 1.

Hindustan Unilever's (HUL) net profit rose 6.2% to Rs 1183 crore on 6.8% rise in net sales to Rs 8100 crore in Q4 March 2017 over Q4 March 2016.

HUL's Chairman Harish Manwani said that Q4 March 2017 has been a strong quarter with profitable volume driven growth. With gradual improvement in market conditions, the company remains optimistic about the medium term outlook for its sector.

Manwani believes that the Goods & Services Tax (GST) will be a win-win for all stakeholders.

HUL recommended a final dividend of Rs 10 per share for the financial year ended March 2017.

HUL is a leading fast moving consumer goods (FMCG) company.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, May 18 2017. 09:36 IST