BNP Paribas Securities has suggested buying shares of Hindustan Unilever Ltd. (HUL) with a target price set at Rs 2800. Currently, the market price stands at Rs 2620.65.
Company Overview
Hindustan Unilever Ltd., established in 1933, operates as a large-cap company in the FMCG sector, with a market capitalization of Rs 615,663.40 crore.
Products and Revenue
The company primarily generates revenue from personal care products and other operational activities for the fiscal year ending March 31, 2024.
Financial Performance
For the quarter ending March 31, 2024, Hindustan Unilever reported a consolidated total income of Rs 15,441.00 crore. This represents a slight decrease of 2.15% from Rs 15,781.00 crore in the previous quarter but a 0.43% increase from Rs 15,375.00 crore in the same quarter last year. The company achieved a net profit after tax of Rs 2,561.00 crore in the latest quarter.
Ownership Structure
As of March 31, 2024, promoters hold a 61.9% stake in the company, while Foreign Institutional Investors (FIIs) own 12.67% and Domestic Institutional Investors (DIIs) hold 13.14%.
BNP Paribas Securities’ recommendation reflects confidence in Hindustan Unilever Ltd.’s financial stability and growth potential within the FMCG sector.
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