Hindustan Unilever Share Price Snap Two-Day Fall Ahead Of Earnings

Hindustan Unilever Ltd.'s share price snapped its two-session fall and rose ahead of third quarter results. Before Wednesday's rise, the stock had fallen 0.6% in its two-session fall.

Bloomberg's consensus estimates show that the FMCG giant is likely to report Rs 2,659.06-crore net profit, as against Rs 2,509.0 crore in the same quarter a year ago. Revenue is seen at Rs 15,791.37 crore, compared to Rs 15,294.0 crore.

The growth would be a price-led growth, as the company took price hikes in tea and soaps. HUL is expected to have taken a price hike of approximately 2–3% in the December quarter, following a period of stable prices in the second quarter.

Before slipping into losses as of 11:21 a.m., the scrip rose as much as 0.9% to Rs 2,362 apiece. This compares to a 0.2% advance in the NSE Nifty 50.

It has fallen 5.7% in the last 12 months. Total traded volume so far in the day stood at 0.3 times its 30-day average. The relative strength index was at 41.13.

Out of 43 analysts tracking the company, 26 maintain a 'buy' rating, 14 recommend a 'hold' and three suggest 'sell', according to Bloomberg data. The average 12-month analysts' consensus price target implies an upside of 20.1%.