Hindustan Unilever lost 4.56% to Rs 655.20 at 12:55 IST on BSE after net profit fell 23.43% to Rs 1019.25 crore on 5.89% growth in total income to Rs 6985.79 crore in Q1 June 2013 over Q1 June 2012.
Hindustan Unilever (HUL) declared Q1 June 2013 results during market hours today, 26 July 2013.
Meanwhile, the S&P BSE Sensex was down 35.38 points, or 0.18%, to 19,769.38
On BSE, 8.29 lakh shares were traded in the counter as against an average daily volume of 3.75 lakh shares in the past one quarter.
The stock hit a high of Rs 682.50 and a low of Rs 647.70 so far during the day. The stock had hit a record high of Rs 725 on Wednesday, 24 July 2013. The stock had hit a 52-week low of Rs 432.25 on 7 March 2013.
The stock had outperformed the market over the past one month till 25 July 2013, rising 16.83% compared with the Sensex's 6.31% gain. The scrip had also outperformed the market in past one quarter, surging 43.6% as against Sensex's rise of 2.05%.
India's largest FMCG company by sales has an equity capital of Rs 216.25 crore. Face value per share is Re 1.
HUL today, 26 July 26, 2013 announced key changes in the board of directors and management committee of the company. Nitin Paranjpe, currently the managing director and chief executive officer of HUL will be joining the Unilever Leadership Executive (ULE), taking on the role of president, Home Care with effect from 1 October 2013.
Mr. Sanjiv Mehta, currently chairman, North Africa & Middle East (NAME), Unilever, has been appointed as the managing director and chief executive officer of the company in place of Mr. Nitin Paranjpe with effect from 1 October 2013. The appointment has been approved by the board of directors of the company at its meeting today, July 2013 alter the nominations and remuneration committee of the board had recommended the same to the board and will be subject to the approval of the shareholders. Mr. Sanjiv Mehta will also be responsible for South Asia cluster which includes India, Pakistan, Sri Lanka, Bangladesh and Nepal.
Shares of HUL were on a roll recently to scale a record high on media reports that the company has raised prices of some of its personal care products. HUL has hiked price of Dove Lotion 400 ml pack price by 15% and 250 ml Dove Lotion Pack by 11% and the price of Lakme deep pore cleanser (200 ml) is hiked by 36%, reports added.
Anglo Dutch parent Unilever this month hiked its stake in HUL through an open offer at Rs 600 per share. Unilever PLC on 11 July 2013 said that pursuant to the voluntary open offer to increase its stake in HUL, the shareholders of HUL tendered a total of 31.99 crore shares, out of which 31.95 crore shares have been accepted by Unilever PLC on completion of the verification of the shares tendered. Based on the shares tendered which represent 14.78% of HUL, the Unilever Group's stake in HUL increased to 67.26% from 52.48%.
HUL is India's largest FMCG company in terms of sales with over 35 brands spanning 20 distinct categories such as soaps, detergents, shampoos, skin care, toothpastes, deodorants, cosmetics, tea, coffee, packaged foods, ice cream, and water purifiers.
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