Shares of FMCG major Hindustan Unilever (HUL) in intra-day trade on March 31, 2020 rallied close to 6% to hit a fresh 52-week high of Rs. 2311.85 on the BSE. On the NSE, the stock made a 52-week high of Rs. 2313 against its previous session closing price of Rs. 2184.35 per share.
In the recent coronavirus led market sell-off, the stock of HUL plummeted to levels of Rs. 1838.30 on March 19, 2020 and since then has shown remarkable recovery.
The stock of Hindustan Unilever is expected to deliver reasonable returns to investors as analysts see limited impact due to the COVID 19 outbreak on the FMCG space. Also, as the company provides products in the personal hygiene segment including hand washes, sanitizers, detergent, floor cleaners which are fast flying off the shelves amid coronavirus pandemic, the stock is likely to outperform its smaller peers.
Earlier, brokerage firm Motilal Oswal has put a 'buy' call on the stock of HUL with a target price of Rs. 2425.
The stock closed the session up 5.08% or Rs. 111.05 to Rs. 2298.15 per share on the BSE.