One of India’s leading fast moving consumer goods (FMCG) companies Hindustan Unilever Ltd (HUL) has reportedly reduced prices for some of its popular soaps – Lux, Lifebuoy and Dove to boost volume growth and gain market share in the category.
For the end-quarter 30-June 2019, the FMCG major reported 15pc year-on-year growth in its net profit at Rs.1755-Cr., which impressed the markets, while it reported a volume growth of 5pc as of June, as the lowest since the Q-3 of 2017-18.
Shares of Hindustan Unilever slipped near 2 pc on the NSE during mid-morning session trade on Wednesday after the company announced its reduction in prices of Soaps.
At 11.15 am, the stock was trading 1.69 pc lower at Rs.1830apiece on the NSE. In comparison, the benchmark Nifty was ruling at 11081.40 down by 24-pts and the Sensex scaled at 37561.51 down by 79-pts.