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    500696   INE030A01027

HINDUSTAN UNILEVER LIMITED

(500696)
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Indian shares recover on energy, IT boost; Reliance up 6%

11/25/2021 | 05:30am EST
FILE PHOTO: Bombay Stock Exchange (BSE) in Mumbai

BENGALURU, Nov 25 (Reuters) - Indian shares recovered from session lows to end Thursday higher, helped by energy and IT stocks, with a 6% rally in Reliance Industries leading the way.

The blue-chip NSE Nifty 50 index ended up 0.7% at 17,536.25, while the benchmark S&P BSE Sensex rose 0.78% to 58,795.09.

"A lot of shopping has happened with Reliance stocks since the company announced a halt in its deal with Saudi Arabia's Aramco," said Rahul Shah, VP-Equity Advisory at Motilal Oswal Financial Services Ltd.

He added the oil-to-telecom conglomerate's plan to transfer its gasification assets to a unit, its recent emphasis on clean energy businesses and a possible telecom tariff rate hike are helping investor sentiment.

Reliance shares rose as much as 6.22%, its best day in nearly six months, before ending up 6.02%. The stock boosted the Nifty Energy Index by 2.4%

IT stocks rose 0.96%. Coforge Ltd and MindTree Ltd rose 2.33% and 1.56%.

Most sectoral indexes, except financial stocks, ended the session up.

Sentiment was also aided after ratings agency Moody's said India's progress on coronavirus vaccinations will support "sustained recovery in economic activity," and projected a GDP growth of 9.3% and 7.9% in fiscal 2022 and 2023 respectively.

Shares of consumer goods majors Hindustan Unilever and Colgate Palmolive India ended 1.08% and 0.96% lower, while peers ITC Ltd and Dabur India recovered from the day's losses.

The Nifty FMCG Index ended up 0.21%, after falling as much as 0.89%.

Motilal's Shah said inflation was a very real worry for consumer goods companies, many of which reported muted quarterly results and have spelt out how a price rise would impact them.

However, he added the broader picture for markets looked more promising in the near-term.

Globally, tech stocks in Asia rose - following overnight advances by U.S. tech companies - and pushed Asian shares higher on Thursday. (Reporting by Vishwadha Chander in Bengaluru; Editing by Uttaresh.V and Shailesh Kuber)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
COFORGE LIMITED 1.62% 5208.5 End-of-day quote.92.54%
COLGATE-PALMOLIVE (INDIA) LIMITED 1.22% 1446.1 End-of-day quote.-7.62%
DABUR INDIA LIMITED 0.27% 573.25 Delayed Quote.6.24%
HINDUSTAN UNILEVER LIMITED 0.65% 2322.65 End-of-day quote.-2.96%
ITC LIMITED 0.82% 222.45 Delayed Quote.4.26%
MINDTREE LIMITED 3.05% 4587.7 Delayed Quote.164.46%
RELIANCE INDUSTRIES LTD 1.52% 2418.05 Delayed Quote.25.06%
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11/25Indian shares recover on energy, IT boost; Reliance up 6%
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11/12Ashu Suyash appointed Independent Director on the HUL Board
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Analyst Recommendations on HINDUSTAN UNILEVER LIMITED
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Financials
Sales 2022 512 B 6 789 M 6 789 M
Net income 2022 90 952 M 1 207 M 1 207 M
Net cash 2022 74 166 M 984 M 984 M
P/E ratio 2022 59,9x
Yield 2022 1,48%
Capitalization 5 457 B 72 343 M 72 396 M
EV / Sales 2022 10,5x
EV / Sales 2023 9,42x
Nbr of Employees 21 000
Free-Float 38,1%
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Mean consensus -
Number of Analysts 0
Last Close Price 2 322,65 
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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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