HUL shares slip over 1% as parent Unilever lowers sales guidance

Unilever said underlying sales growth would be below guidance in 2019 and in the first half of 2020 because of a slowdown in South Asia and weakness in West Africa

Shares of Hindustan Unilever slumped 1.6 per cent to Rs 1,932 on the BSE on Thursday after the company's parent, Unilever, cut its sales guidance for calendar years 2019 and 2020 amid growth concerns in India, its largest market by volume and second-largest by value.

In an unscheduled sales update on Tuesday, the world's second-largest consumer goods company, Unilever, said that underlying sales growth would be below guidance in 2019 and in the first half of 2020 because of a slowdown in South Asia and weakness in West Africa. Unilever has a 67 per cent stake in Hindustan Unilever (HUL).

According