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Home » Business » HUL Share Price Jumps 5% Amid Gains for Dabur and Colgate in Weak Market: Should You Buy?

HUL Share Price Jumps 5% Amid Gains for Dabur and Colgate in Weak Market: Should You Buy?

According to HUL, the company expects gradual demand recovery, supported by increased government spending, macro indicators and a better monsoon forecast.

By Newsd
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HUL Share Price Jumps 5%

HUL Share Price Jumps 5%: After the Lok Sabha elections, shares of fast moving consumer goods (FMCG) companies traded higher amid heavy volumes.

Dabur India, Colgate- Palmolive (India), Marico, Hindustan Unilever (HUL), Emami and Britannia Industries are among the stocks up between 2 and 5 percent.

As a result of increased government spending, HUL expects a gradual recovery in demand.

According to HUL, the company expects gradual demand recovery, supported by increased government spending, macro indicators and a better monsoon forecast. The company’s shares are up 3 percent to 2,427 on the BSE in intra-day trade.

The company said in its Q4FY24 earnings call that macroeconomic indicators, government spending, monsoon forecast, retail inflation, and reduced volatility in commodity prices will lead to an increase in consumption sentiment both in urban and rural areas. Today, shares of the company rose by 3.4 percent to $614.90.

On the NSE and BSE, 5.69 million shares changed hands for Dabur India, up 5 percent to $573.20.

In March quarter (Q4), the company’s domestic volume grew 4.2% YoY and its rural markets grew 400 bps ahead of urban markets (8 % and 4%, respectively).

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