HUL removes Horlicks from ‘health’ category to 'FND'
Horlicks and Boost rebranded under the “functional nutritional drinks” category after the government’s directive to the companies
Horlicks and Boost rebranded under the “functional nutritional drinks” category after the government’s directive to the companies
Analysts at brokerage firm Motilal Oswal gave a 'BUY' rating with a revised target price of ₹2,900 per share.
The FMCG major is optimistic about the mid-term impact of better monsoons, and improving macro-economic indicators.
The FMCG major reported flat profit and sales at ₹2,519 crore and ₹14,928 crore, respectively, in Q3 FY24, dented by demand slowdown.
More than a dozen Nifty 50 Stocks have failed to deliver returns that a fixed deposit account would have delivered in a year.
Investors remain concerned about HUL’s muted volume growth, subdued rural performance, and increased competition in select categories.
The board of HUL also declared an interim dividend of ₹18 per share for the year ended March 31, 2024.
Sanjiv Mehta has scripted a dazzling growth story at Hindustan Unilever.
The sell-off in the equity market was triggered by weakness in index heavyweights such as Infosys, TCS, HCL Technologies, RIL, and HUL as well as bearish global cues.
HUL CEO Rohit Jawa says FMCG markets are recovering gradually, although the operating environment remains "challenging"