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Hindustan Unilever shares rise as giant Fmcg prepares for annual general meeting

Shares of Hindustan Unilever Ltd (HUL) rose on Thursday, ignoring wild swings on Dalal Street, as investors awaited updates from the company’s annual general meeting scheduled for 2:30 p.m. HUL shares gained up to Rs 36.2 or 1.6% to Rs 2,245 each on BSE.

Stock index Come back
One week A month One year
HUL 6.2% -5.7% -9.5%
Nifty50 0.30% -4.9% -2.3%
Clever FMCG 0.9% -4% 1.8%

This will be the 89th Major FMCG AGM.

The company’s annual general meeting comes at a time when FCMG manufacturers are struggling to protect their margins from rising input costs despite rising sales.

Hindustan Unilever shares rise as giant Fmcg prepares for annual general meeting
Hindustan Unilever shares rise as giant Fmcg prepares for annual general meeting
At the company’s 88th Annual General Meeting, Hindustan Unilever CMD Sanjiv Mehta had expressed confidence that India was poised for unprecedented growth as the pandemic was just a pause in the country’s consumer history.

He had acknowledged an unprecedented increase in prices for palm oil and crude oil derivatives and said the company would continue to raise prices in a calibrated and judicious manner.

FMCG companies such as HUL have taken a series of price hikes to cope with soaring input costs at a time when central banks have lined up aggressive pandemic-era interest rate hikes to tame a four-decade high.

First post: STI


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