HUL gains on incorporation of 100% subsidiary

Hindustan Unilever rose 1.43% to Rs 2247.65 after it informed that its board has approved a proposal to form a new 100% subsidiary.

This 100% subsidiary will be incorporated with an authorized share capital of Rs. 2000 crore. The announcement was made after market hours yesterday.

This new subsidiary will leverage the growth opportunities in a fast-changing business environment and will help HUL in becoming more agile and customer-focused.

Hindustan Unilever (HUL) is India's largest fast-moving consumer goods company with its products touching the lives of nine out of ten households in the country.

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