For Quick Alerts
For Daily Alerts

HUL Shares Jump 11% To New Record High


Shares of Hindustan Unilever Ltd (HUL) rose as much as 11 percent on Tuesday to a new high of Rs 2,414.40 on NSE. The FCMG major is among the very few stocks that have been doing well amid the market carnage from the economic uncertainty brought by COVID-19.

HUL Shares Jump 11% To New Record High
Hindustan Unilever: Quotes, News
BSE 2007.55BSE Quote24.65 (-1.23%)
NSE 2009.85NSE Quote22.25 (-1.11%)

A likely increase in demand for hygiene and other consumer products amid the nationwide lockdown and the recent completion of its merger with GlaxoSmithKline Consumer Healthcare has made the stock attractive.

Despite the limited movement of consumers during the lockdown, FMCG products, which are being sold under the essential goods category, are in high demand. Online buying and home delivery of these products have also considerably spiked since mid-March. Profits of these companies are expected to be least affected by the lockdown imposed to curb the spread of COVID-19.

Further, on 1 April, HUL announced that it has successfully completed GSKCH's merger with itself after having secured necessary approvals. The FMCG's board also approved the acquisition of Horlicks Brand for India from GSK for Euro 375.6 million (Rs 3,045 crore).

Post the merger, GSK Plc (including Group Companies) will own 5.7 percent of the merger entity and Unilever holding will be lowered to 61.9 percent from 67.2 percent.

Under a consignment selling agreement, HUL will distribute GSK's over-the-counter and health products for 5 years (mutually renewable agreement).

Read more about: hul
Story first published: Tuesday, April 7, 2020, 13:16 [IST]
Company Search
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more