HUL surges 4% after Societe Generale buys 12.9 million shares via bulk deal

On Thursday, UK-based Glaxo-SmithKline (GSK) offloaded its stake in HUL via block deals.

Hindustan Unilever (HUL) shares rose 4 per cent to Rs 2,075 apiece on the National Stock Exchange (NSE) on Friday after institutional investors bought stake in the fast moving consumer goods (FMCG) company via open market on Thursday. The stock recovered 9 per cent from its Thursday’s low of Rs 1,902 touched in early morning deal.

The NSE bulk deal data on the exchange showed foreign portfolio investor Societe Generale, a French multinational investment bank and financial services company, bought 12.9 million shares of HUL at an average price of Rs 1,902. The rest of the buyers are unknown