INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Shares of Hindustan Unilever (HUL) fell over 1 per cent in morning trade on Monday, following lesser-than-expected March quarter
numbers.
The company reported a 14 per cent YoY rise in net profit at Rs 1,538 crore for the March quarter, which was below Rs 1,617 crore
profit estimated by analysts in an ET Now poll
Brokerages have given mixed verdict on the stock post the March quarter numbers.
Macquarie has maintained an outperform view on the stock
with a target price of Rs 2,050 per share and said that the quarterly numbers were in-line with its estimates
The brokerage, however, highlighted that while the home care segment showed strong performance, the personal care segment was a
drag.
Motilal Oswal Securities has a buy recommendation on the stock with a target price of Rs 1,950.
The brokerage said HUL is likely to
continue its outperformance on the volume's front, even compared with smaller players
valuations will stay," the brokerage added
HDFC Securities has maintained its neutral view on the stock with a target price of Rs 1,804
said.
As per the brokerage, beauty and personal care growth was slightly slow owing to continued challenges in oral care and softer growth
for soaps.
Around 9:45 am, the stock was trading 1.34 per cent down at Rs 1,670.05 on BSE
