Hold Hindustan Unilever, says PN Vijay

According to PN Vijay, Portfolio Manager of askpnvijay.com, Hindustan Unilever (HUL) continues to be a hold at current levels.

Vijay told CNBC-TV18, “HUL is a hold because as we had talked about on the day the announcement came, the price will settle somewhere between Rs 600 and the market perception of what the intrinsic value of the stock is.”
He further said, “Given this smart pickup in volumes and the margins and the profits in the last quarter, one could probably give this stock an intrinsic valuation of something between Rs 540-550. If Rs 600 is the offer price and you get about 50 percent of your tendering successful, the present price of about Rs 570-575 builds in that price to a perfection.”
“So, unless I get new news in terms of better margins or anything, there is no icing left on this cake anymore. HUL continues to be a hold at best at the current levels,” Vijay added.