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.
"The companys best earnings growth visibility in the large-cap Indian consumer space and by far the highest return ratios, the premium valuations will stay," the brokerage added.
HDFC Securities has maintained its neutral view on the stock with a target price of Rs 1,804.
"We continue to maintain our neutral rating since we downgraded the stock in July 2018 as we dont see any near-term trigger," the brokerage 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.