Hindustan Unilever Ltd (HUL), a leading player in the FMCG sector, is set to hold a board meeting on October 23, 2024, to review its financial results for the quarter and half-year ending September 30, 2024, as well as to consider a proposal for an interim dividend for the financial year ending March 31, 2025. The shares of HUL were last traded at Rs 2,693.60 on the BSE, with a market capitalization of approximately Rs 6,32,885.90 crore.
HUL’s stock has experienced a decline of over 9% in the past month but has risen by 21% over the last six months. Previously, on April 24, 2024, the company recommended a final dividend of Rs 24 per share for the financial year ending March 31, 2024, and paid an interim dividend of Rs 18 per share on November 16, 2023. The record date for determining entitlement to the potential interim dividend has been set for November 6, 2024.
In terms of stock performance, HUL shares fell over 4% in the last two weeks and nearly 9.6% in the past month. The 52-week high for HUL shares was Rs 3,034.50 on September 23, 2024, while the 52-week low was Rs 2,170.25 on April 16, 2024.
Regarding shareholding patterns, Foreign Institutional Investors (FIIs) reduced their holdings from 12.67% to 11.87% in the June 2024 quarter, despite an increase in the number of FII investors from 1,925 to 1,951. Conversely, Mutual Funds raised their holdings from 5.01% to 5.58%, with the number of schemes increasing from 333 to 362. Institutional Investors also increased their stakes from 25.95% to 26.04%. Notably, the LICI Market Plus Balanced Fund holds a 5.16% stake in HUL with 121,161,787 shares.
Analysts have issued buy recommendations for HUL, with LKP Securities setting a target price of Rs 3,050 and a stop loss at Rs 2,665 per share. Prabhudas Lilladher also recommended a buy with a target price of Rs 3,040 and a stop loss at Rs 2,680 per share, noting that HUL has shown signs of bottoming out near the Rs 2,730 level, indicating potential for a rebound.
Hindustan Unilever, with a 90-year legacy in India, is the largest FMCG company in the country, boasting a robust portfolio of over 50 brands across 16 categories, producing more than 65 billion units annually available through nine million retail outlets and various digital commerce platforms.
Disclaimer: The information provided in this summary is for informational purposes only and does not constitute financial advice. Investment decisions should be based on your own research and analysis, and it is recommended to consult with a qualified financial advisor before making any investment choices. The stock performance and market trends mentioned may change over time and are subject to market risks. The authors and sources of this information are not responsible for any losses or damages resulting from reliance on this content.
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