Brokerages keep 'buy' on HUL, see 16% EPS growth

Mumbai: Most and brokerage maintained the value of ‘buying’ on larger moving assets Hindustan Unilever (HUL) after the company reiterated its strong December earnings. Shares remained 2.68% at ₹ 2,322.20 on Friday.

“HUL is well on its way to India FMCG, given long-term funding, well-prepared to deal with distractions, benefit from a cost-cutting approach, and recent gains,” said CLSA, maintaining “success” at the desired price. 2,725.

Antique Stock Broking, Nomura, Jefferies, Investec and Edelweiss retained their ‘buy’ votes on shares.

Hindustan Unilever on Thursday also announced an 18.7% increase in combined profits to ₹ 2,300 crore for the December quarter. The company made a profit of ₹ 1,938 crore during the same period last financial year.

Brokerages expressed concern about the volume and volume due to rising inflation. Axis Capital has raised its stakes by saying it would like regional chairman Hindustan Unilever to raise the price.


“While weak volume growth and rising RM prices (in general) are very difficult in the near future, HUL should provide 16% more EPS per annum than FY22-24,” Jefferies said.

Investec is Morgan Stanley reduced pricing prices by 8% each. The gradual decline in the market indicates that the growth of the sector in the next few years will be difficult but Hindustan Unilever is doing well due to its leadership and diversification, said Investec.

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