HUL Shares Hit 52-Week High Ahead Of First-Quarter Earnings

Shares of Hindustan Unilever Ltd. hit a 52-week high on Tuesday ahead of the release of its first-quarter earnings.

The consumer products company is expected to report a net profit of Rs 2,601 crore, for the quarter ending June, according to a consensus estimate of analysts tracked by Bloomberg. The top-line is expected to come around Rs 15,587 crore for the quarter under review.

Volume grew 3% over a year ago in Q1, compared with 2% in the preceding three months, according to the company's business update.

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Shares of HUL rose as much as 0.79% during the day to Rs 2,756.95 apiece on the NSE. It was trading 0.06% higher at Rs 2,736.9 apiece, compared to a 0.23% decline in the benchmark Nifty 50 as of 10:25 a.m.

The stock has risen 6% in the last 12 months and 2.7% on a year-to-date basis. The relative strength index was at 77.

Twenty-five out of the 41 analysts tracking the company have a 'buy' rating on the stock, 12 recommend a 'hold' and five suggest a 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential downside of 6%.

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