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Business News/ Market / Stock-market-news/  HUL shares erase all early gains, close lower on profit booking
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HUL shares erase all early gains, close lower on profit booking

During the day, HUL stock gained 3.18% to ₹1,195.10its 52-week high but closed 0.5% lower on BSE

On the NSE, HUL shares closed 0.30% down at Rs 1,154.35. Photo: MintPremium
On the NSE, HUL shares closed 0.30% down at Rs 1,154.35. Photo: Mint

New Delhi: Shares of FMCG major Hindustan Unilever on Wednesday erased all early gains and ended lower on profit-booking.

The scrip ended 0.46% lower at 1,152.90 on the BSE. During the day, the stock gained 3.18% to 1,195.10—its 52-week high. On the NSE, shares of the company closed 0.30% down at 1,154.35.

On the volume front, 2.32 lakh shares of the company were traded on the BSE and over 47 lakh at the NSE during the day.

Hindustan Unilever yesterday posted an over 9% rise in its standalone net profit at 1,283 crore for April-June while some of its business verticals saw a muted quarter due to ‘destocking’ in view of the GST implementation from 1 July.

The company had posted a standalone net profit of 1,174 crore in the corresponding period of the previous fiscal, Hindustan Unilever Ltd (HUL) said in a BSE filing.

Net sales during the quarter under review stood at 9,094 crore as against 8,662 crore a year ago, up 4.98%.

“During the quarter, trade sentiment remained cautious, particularly in the run-up to GST implementation. Despite high promotional intensity, stock pipelines remained low and varied across categories, channels and geographies," HUL said.

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Published: 19 Jul 2017, 02:36 PM IST
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