Shares of Hindustan Unilever Ltd were trading lower on bourses near 2% during mid market trade despite company posted strong Q4FY19 earning numbers.
The FMCG major witnessed a 14% growth in its net profit for the Q4 ended March 31, 2019, at Rs.1,538-Crore. The Company’s revenue for the quarter also advanced by 9ps to Rs.9,808-Crore as against Rs9,003Crore, YoY.
Meanwhile, CLSA maintained its outperform rating on the company, but reduced its 12-month TP to Rs.1950 from Rs.2010 earlier.
During mid-noon hours of trade, Hindustan Unilever Ltd was trading at Rs.1660 down by Rs33.55 or 1.98% from its previous closing of Rs1,693.55 on the NSE. The stock has touched intraday high and low of Rs.1687and Rs1,656 respectively thus far. Meantime, Sensex continue fell at 28664-level down 298 points and Nifty at 11616-level down 95 points at 12.00 hrs.
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