This FMCG behemoth is expected to hit the Rs 3,000 mark, according to analysts.

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On June 5, the domestic equity indexes closed higher, regaining some of the ground lost the day before. The Nifty50 is now back above 22,600. The Nifty increased by 735.80 points, or 3.36 percent, to 22,620.30, while the Sensex index increased by 2,303.19 points, or 3.20 percent, to 74,382.24.Nevertheless, analysts advise investing in this FMCG company in the long run.

This FMCG behemoth is expected to hit

This FMCG behemoth is expected to hit the Rs 3,000 mark, according to analysts.

Buy FMCG stocks This FMCG behemoth is expected to hit

Investors should purchase FMCG stock Hindustan Unilever Ltd. (HUL) for a year, advises stock 24 news analyst Kushal Gupta. The stock finished at Rs 2,602.9 a share on Wednesday, June 5, up 4.27 percent or 106.7 per share on the BSE.

HUL: This FMCG behemoth is expected to hit

Gupta has set a target price of Rs 3,000 per share for the shares. The aim suggests a gain of around 15% from the closing price on Wednesday.

Jefferies brokerage’s perspective Jefferies’ rating of HUL has been changed from “hold” to “buy,” with a target price of Rs 2,950 per share, up from Rs 2,530 before. The brokerage claimed in its note that HUL is a viable way to invest in the anticipated increase in rural areas.

Over the previous five years, the stock underperformed. It noted that the valuation is close to the five-year average. The firm has raised its price target for HUL to BUY with a PT of Rs 2,950 and increased its EPS projections by 1-3 percent. The firm also stated that growth in FY25 should move forward.

Examining HUL’s Q4FY24 Results:

FMCG giant Hindustan Unilever said that deflation brought on by a slowdown in commodity prices resulted in a 1.53% drop in consolidated net profit to Rs 2,561 crore for the fourth quarter of FY24.

A regulatory filing from HUL states that the company reported a net profit of Rs 2,601 crore during the same time last year.

Hindustan Unilever Ltd.’s (HUL) net sales for the March quarter were virtually unchanged at Rs 15,013 crore.

HUL’s overall expenses for the March quarter increased by 1.5% to Rs 12,100 crore from Rs 11,962 crore in the same period last year.

HUL’s total revenue during the fourth quarter of the previous fiscal year was Rs 15,441, a constant amount.

HUL’s overall revenue during the fourth quarter of the previous fiscal year was Rs 15,441 crore, unchanged from Rs 15,375 crore the previous year.

The opinions, recommendations, and advice presented in this article are only those of the brokerage firm. Before making any financial decisions, stock24newscom advises its readers to speak with their investment advisors. Read more…

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