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Hindustan Unilever share price at 52-week high; brokerages see up to 15% upside

Domestic research and broking firm Motilal Oswal has a 'buy' call on the stock with the target at Rs 3,280 a share

September 21, 2021 / 10:58 AM IST
 
 
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Hindustan Unilever (HUL) share price was trading at a new 52-week high of Rs 2,848, adding over a percent in the morning session on September 21.

The Nifty has gained more than 25 percent and the FMCG index jumped over 19 percent since the start of the calendar year.

According to Vikas Jain, Senior Research Analyst at Reliance Securities, HUL has started to outperform after a long time with a positive momentum in the sector.

On the downside, the stock has support near Rs 2,650, with respect to its previous top term which would act as strong support now. “We would recommend holding the stock. The current upmove can lead the stock higher near Rs 3,000 levels,” he said.

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Domestic research and broking firm Motilal Oswal has a “buy” call on the stock, with target at Rs 3,280 a share, an upside of 15 percent from current level.

"The company’s portfolio is already well-placed, with its e-commerce market share higher than its Modern Trade (MT) market share, which, in turn, is higher than its General Trade (GT) market share. Winning in Many Indias (WiMI) has been a key factor driving volume growth and market share gains for the company in recent years,” a report by the research firm said.

"However, localisation of products as well as communication is only gathering further steam – of which the company stated several examples in the analyst meet in categories ranging from foods to beauty and personal care (BPC) – and ought to be a key driver of growth for many years to come."

Synergies from the GSK Consumer business would play a big role in the resumption of strong earnings growth, the brokerage said, adding its forecast remained unchanged.

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Moneycontrol News
first published: Sep 21, 2021 10:58 am

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