Hindustan Unilever Ltd. opened Thursday's session on a weak footing before falling further, marking a sharp 6% decline. The drop came as the stock adjusted for the demerger of its ice-cream business, Kwality Wall's India, following a special pre-open session.
HUL's adjusted price stood at Rs 2,424, reflecting the Kwality Wall's demerger.
The Hindustan Unilever demerger record date is on Friday, Dec. 05. From this session onward, Hindustan Unilever shares will trade ex-ice-cream business, which is Kwality Wall's (India). The stock exchanges, BSE and NSE, conducted a special pre-open session on the record date to facilitate price discovery. The purpose of the session was to determine the fair value of HUL shares net of the ice-cream business.
HUL-Kwality Walls Demerger Details
The demerger became effective on December 1, 2025. Under the scheme, the FMCG major will transfer all its ice-cream brands — including Kwality Wall's, Cornetto, Magnum, Feast and Creamy Delight — to the newly created entity.
The Hindustan Unilever demerger share entitlement ratio is 1:1, meaning eligible shareholders will receive one equity share of Kwality Wall's (India) for every one share of Hindustan Unilever held on the record date.
Ice cream remains a “high-growth business” with brands such as Kwality Wall's, Cornetto and Magnum operating in a highly attractive consumer segment, and the proposed demerger will “unlock fair value for HUL shareholders” while giving them the option to stay invested in the category's future expansion, said Rohit Jawa, CEO and Managing Director of HUL.
HUL said that carving out the ice-cream division will help the company sharpen focus on its core portfolios — including personal care, home care, beauty and nutrition — while giving the ice-cream business the strategic independence and flexibility it needs to scale more aggressively as a standalone entity.
HUL Share Price Today
The scrip fell as much as 5.6% to Rs 2,286.70 apiece, paring losses to trade 1.90% lower at Rs 2,378.00 apiece, as of 10:34 a.m. This compares to a 0.06% marginal advance in the NSE Nifty 50 Index.
HUL's share price has risen 2.24% on a year-to-date basis. The relative strength index was at 58.16.
Out of 43 analysts tracking the company, 32 maintain a 'buy' rating, nine recommend a 'hold,' and two suggest 'sell,' according to Bloomberg data. The average 12-month consensus price target implies an upside of 16%.
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