Shares of Hindustan Unilever (HUL) rose around 2 per cent to Rs 251.5 on the back of defensive buying. The company announced that its beauty and wellness segments of Ayush Therapy centres and Lakme salons have been spurned off into a new subsidiary - Lakme Lever.
Analysts expect this move would help Lakme Lever and HUL to focus on their respective businesses. The stock saw trading volumes of 6.56 lakh shares (about 1.8 times its 2-week average). The scrip made a 52-week high of Rs 267 and a low of Rs 170.