HUL hits 18-month low; stock plunges 8% in 2 days post weak Q3 results

Shares of Hindustan Unilever (HUL) hit an 18-month low of Rs 2,365.50 as they slipped nearly 4 per cent on the BSE in Tuesday's intraday trade amid heavy volumes. In the past two trading days, the stock of the fast moving consumer goods (FMCG) company has plunged 7 per cent after it reported disappointing December quarter (Q3FY24) earnings due to weak demand.

The market price of HUL has fallen below its previous low of Rs 2,393, hit on March 15, 2023. It is trading at its lowest level since July 2022. In the past one year, the stock has underperformed