Buy Hindustan Unilever on declines: Ashu Madan

Ashu Madan of Religare Securities told CNBC-TV18, "We are expecting Hindustan Unilever (HUL) to grow at a healthy pace because of the consumption backed story. It is fairly priced, if somebody wants to invest should wait for the results, probably buy at dips. It is expensive compared to its peers. Looking at the composition of the market and right now the price pattern is I would suggest that there is nothing wrong for a long-term buy.""Certainly, buy at dips would make more sense than buying at these levels. So, I think there is no rush, there is no hurry; wait for the results, see the commentary, see the roadmap ahead and probably that is the time to buy not ahead of results," he added.