"This new subsidiary has been formed to leverage the growth opportunities in a fast-changing business environment and will help HUL in becoming more agile and customer-focused," the firm said in an exchange filing. READ THE FILING HERE
Meanwhile, earlier this month, foreign brokerage house JP Morgan upgraded HUL to ‘overweight’ with a March 2021 target price of Rs2,425.
Even as the broader demand environment remains subdued, we expect HUL’s revenue growth to fare better (vs home and personal care peers) on a relative basis given its market share growth agenda and participation in the categories/channels of the future. Further consistent beat on margin delivery (continued premiumisation and significant cost efficiencies) adds to confidence on healthy EPS growth, the brokerage firm said.
At 10:27 am, the stock was trading 1.89 per cent higher at Rs 2257.95 as compared to 0.17 per cent uptick in the benchmark S&P BSE Sensex. Almost 7.4 lakh shares have changed hands on the NSE and BSE combined so far.
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