Result Update: Hindustan Unilever Ltd - Kotak

HUL reported a strong set of results, as volume growth, as well as margins came in ahead of estimates. The company has displayed an ability to drive margin expansion and also committed to a continued improvement in margins along with a healthy topline growth. We raise our EPS estimates by 4% following the results, and believe the results shall be viewed positively by the market as a signal for continued and significant improvement in margins. We value HUL at 42X FY19E PER, and raise our price target to Rs 1216 (Rs 1100 earlier). We maintain ACCUMULATE.

Shares of HINDUSTAN UNILEVER LTD. was last trading in BSE at Rs.1158.55 as compared to the previous close of Rs. 1152.75. The total number of shares traded during the day was 133427 in over 4038 trades.

The stock hit an intraday high of Rs. 1163.9 and intraday low of 1145.8. The net turnover during the day was Rs. 154092814.

Source : Equity Bulls

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