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    500696   INE030A01027

HINDUSTAN UNILEVER LIMITED

(500696)
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Indian consumer goods stocks gain as partial lockdowns return

04/09/2021 | 05:35am EDT
FILE PHOTO: People wait in a line to enter a supermarket amidst the spread of the coronavirus disease (COVID-19) in Mumbai

BENGALURU (Reuters) - Shares of consumer goods companies in India rose as much as 1.3% on Friday, with retailers stocking up on supplies as many states in the country imposed partial lockdowns and curfews to counter a stubborn rise in COVID-19 cases.

India reported a record number of new COVID-19 infections on Friday, prompting states such as Maharashtra, Karnataka and others to either impose night or weekend curfews as the country battles a second wave of infections and states complain of vaccine shortages.

Investors banked on a pickup in demand for consumer staples and personal care items, sending the Nifty subindex for fast-moving consumer goods up as much as 1.3% to record highs, lifting the broader market as well.

Heavyweight Hindustan Unilever Ltd, which sells Lipton teas and Annapurna branded flour, rose as much as 3.0%, while ITC Ltd gained as much as 1.3%.

"We are witnessing some uptick in demand across impacted geographies for our hygiene portfolio under the Savlon brand, as well as food brands including Aashirvaad flour, Yippee noodles and ITC MasterChef frozen snacks among others," an ITC spokesman said.

Purchase of fruits, vegetables, snacks and personal care items had risen by about 40% in cities such as Mumbai, Pune and Nagpur, said Hari Menon, founder of online grocery retailing website BigBasket.

Analysts, however, said they don't expect the pickup in demand to be as high as when India went into a country-wide lockdown last March, since the curfews are partial and not as stringent as the last time.

"A pickup in demand and delivery similar to the previous lockdown is now expected for FMCG companies, but the pickup will not be as great as it was last time," said KK Mittal, investment advisor at Venus India Asset Finance.

(Reporting by Soumyajit Saha and Nivedita Bhattacharjee in Bengaluru; Editing by Shounak Dasgupta)

By Soumyajit Saha


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
HINDUSTAN UNILEVER LIMITED 0.01% 2334.05 End-of-day quote.-2.49%
ITC LIMITED -0.53% 204.95 Delayed Quote.-1.41%
NESTLÉ INDIA LIMITED -1.16% 17702.75 End-of-day quote.-3.75%
NOODLES & COMPANY -0.83% 11.94 Delayed Quote.52.41%
UNILEVER PLC 1.07% 4151 Delayed Quote.-6.49%
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Financials
Sales 2022 509 B 6 844 M 6 844 M
Net income 2022 92 694 M 1 247 M 1 247 M
Net cash 2022 73 015 M 982 M 982 M
P/E ratio 2022 59,1x
Yield 2022 1,51%
Capitalization 5 484 B 73 762 M 73 772 M
EV / Sales 2022 10,6x
EV / Sales 2023 9,53x
Nbr of Employees 21 000
Free-Float 37,9%
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Mean consensus -
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Last Close Price 2 334,05 
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Managers and Directors
Sanjiv Soshil Mehta Chairman, Chief Executive Officer & MD
Ritesh Tiwari Chief Financial Officer & Executive Director
Vibhav Sanzgiri Executive Director-Research & Development
Devopam Narendra Bajpai Secretary, Director & Executive Director-Legal
Om Prakash Bhatt Independent Non-Executive Director
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HINDUSTAN UNILEVER LIMITED-2.49%73 847
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