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Shares of fast moving consumer goods major Hindustan Unilever (HUL) have gained 18 per cent in just five trading sessions - longest gaining streak in 20 months - led by upgrades by foreign brokerages.
On Monday, the stock was the best-performing on the Sensex, gaining 3.84 per cent to Rs 896.65.
HUL has seen slew of rating upgrades by brokerages including Deutsche Bank, Credit Suisse and JP Morgan.
"Our upgrade is led by our expectation of gradual volume growth recovery over FY16, a better margin outlook aided by moderating input costs and relatively rational competitive spends," JP Morgan said in a report.
