Shares of FMCG major HUL today surged as much as 11% to a new high of ₹2,399. In comparison, benchmark index Sensex was up about 6%.
HUL is a handful of stocks that have been able to escape the market correction over the past few weeks. Analysts say that rising demand for personal hygiene products has brightened the prospects for India’s largest consumer company. "We expect HUL to be resilient in the current economic scenario and deliver mid-to-high single digit volume growth over next two years," Centrum Broking said in a note, which estimates HUL to post a 4% volume growth in the fourth quarter.
Hindustan Unilever Ltd (HUL) on Wednesday announced the completion of merger of GlaxoSmithKline Consumer Healthcare Ltd (GSKCH) with itself,