Meanwhile, the S&P BSE Sensex was up 140.78 points, or 0.73%, to 19,551.62.
On BSE, 2.18 lakh shares were traded in the counter as against an average daily volume of 2.90 lakh shares in the past one quarter.
The stock hit a high of Rs 631.95 so far during the day, which is also a record high for the counter. The stock hit a low of Rs 616.25 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 4 July 2013, rising 1.69% compared with the Sensex's 0.69% fall. The scrip had also outperformed the market in past one quarter, rising 27.85% as against Sensex's 4.87% rise.
The large-cap FMCG company has an equity capital of Rs 216.25 crore. Face value per share is Re 1.
Unilever PLC announced that, pursuant to the voluntary open offer to increase its stake in Hindustan Unilever (HUL), shareholders of HUL tendered 31.96 crore shares during the tender period for the open offer which commenced on 21 June 2013 and closed on 4 July 2013.
The offer price of Rs 600 per share values the transaction at Rs 19,181 crore. Based on the shares tendered, which represent 14.8% of HUL, Unilever increase its stake from 52.48% to 67.28%.
Paul Polman, CEO, Unilever, said: "We are pleased to have received such a good response to our voluntary open offer and that - as a result - we will significantly increase our stake in Hindustan Unilever, an excellent Indian business with a proud heritage and the potential for attractive long-term growth."
On completion of the verification of shares tendered, the details of the final acceptance will be communicated by Unilever PLC on 11 July 2013. The payment for shares tendered and accepted will be completed on or before 18 July 2013, at which point Unilever PLC will acquire full beneficial ownership of the shares tendered and accepted in the open offer, Unilever said in a statement.
The open offer, which was first announced on 30 April 2013, was intended to increase Unilever's stake in HUL from 52.48% to up to 75%, the maximum a promoter can own in a listed company.
HUL's net profit before exceptional items rose 18% to Rs 781 crore on 12.13% growth in total income from operations to Rs 6465.81 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. HUL is a subsidiary of Unilever Plc, one of the world's leading suppliers of fast moving consumer goods with strong local roots in more than 100 countries across the globe.
Powered by Capital Market - Live News
