HUL is the bright star today!
HUL is the bright star today!
By Research Desk
about 14 years ago
The entire FMCG pack is up, led by HUL. The stock hit a new 52-week high today at Rs.597 and even now remains strongly in the green, up 16%. Volumes have increased over 6 times.
The stock is in the limelight after the Anglo-Dutch parent company, Unilever Plc announced buying back of 22.52% of HUL at Rs.600/share, which is at a premium of about 21% over Monday's closing price. The offer has been made to help promoters increase their stake from current 52.48% to 75%. The offer, payable in cash, is expected to begin in June 2013 and at $5.4 billion would be the largest equity offer ever in India.