Hindustan Unilever surged 11.50% to Rs 694.95 at 15:16 IST on BSE on media reports that the company has raised prices of some of its personal care products.
Meanwhile, the S&P BSE Sensex was up 103.84 points, or 0.52%, to 19,955.07.
On BSE, 15.59 lakh shares were traded in the counter as against an average daily volume of 3.04 lakh shares in the past one quarter.
The stock hit a high of Rs 698.95 so far during the day, which is also a record high for the counter. The stock hit a low of Rs 619.15 so far during the day. The stock had hit a 52-week low of Rs 432.25 on 7 March 2013.
The stock had outperformed the market over the past one month till 16 July 2013, rising 5.06% compared with the Sensex's 3.51% rise. The scrip had outperformed the market in past one quarter, rising 28.38% as against Sensex's 5.90% rise.
India's largest FMCG company by sales has an equity capital of Rs 216.25 crore. Face value per share is Re 1.
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As per reports, Hindustan Unilever's (HUL) has hiked Dove Lotion 400 ml pack price by 15% and 250 ml Dove Lotion Pack by 11%. The price of Lakme deep pore cleanser (200 ml) is hiked by 36%.
Separately some media reports suggested that current float of HUL shares in MSCI India Index will come down to 30% from 40% effective today, 17 July 2013, while the float will rise to 33% from 24% in FTSE Index with effect from 19 July 2013.
Last month, HUL's Anglo Dutch parent Unilever hiked its stake in the company from 52.48% to 67.26%.
Unilever PLC on 11 July 2013 said that pursuant to the voluntary open offer to increase its stake in HUL, the shareholders of HUL tendered a total of 31.99 crore shares, out of which 31.95 crore shares have been accepted by Unilever PLC on completion of the verification of the shares tendered. Based on the shares tendered which represent 14.78% of HUL, the Unilever Group will increase its stake in HUL from 52.48% to 67.26%.
The offer of Rs 600 per share values the transaction at approximately Rs 19174 crore, Unilever PLC said. The payment for shares accepted will be completed on or before 18 July 2013, at which point Unilever PLC will acquire full beneficial ownership of the shares accepted in the open offer.
HUL's net profit rose 14.7% to Rs 787.20 crore on 12.5% growth in net sales to Rs 6367.14 crore in Q4 March 2013 over Q4 March 2012.
HUL is India's largest FMCG company in terms of sales with over 35 brands spanning 20 distinct categories such as soaps, detergents, shampoos, skin care, toothpastes, deodorants, cosmetics, tea, coffee, packaged foods, ice cream, and water purifiers.
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