The stock ended at Rs 264, down around 1% each. The counter clocked volumes of 513,078 shares as compared to the two-week daily average traded volumes of 201,540 shares on the BSE.
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(Updated at 1150hrs)
Hindustan Unilever has slipped this morning, after the company yesterday announced its decision to pay 1% royalty to parent Unilever on select products for using its brand name.
The stock opened at Rs 268 and then slipped to a low of Rs 262. The stock is now trading at Rs 263, down 1% from its previous close. The counter has clocked volumes of 165,987 shares as compared to the two-week daily average traded volumes of 201,540 shares on the BSE.
The company would pay 1% of net sales for using these brands, the trademarks for which are held by Unilever. The agreement will take effect from January 1. The total outgo is pegged around Rs 90 crore.
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