New Delhi: Shares of Hindustan Unilever Ltd (HUL) climbed more than 2% and touched their 52-week high level in morning trade on Tuesday after the company posted strong earnings for the March 2018 quarter.

The company on Monday reported a 14.2% increase in its standalone net profit to Rs1,351 crore for the fourth quarter ended 31 March, driven by a strong double digit volume growth.

Reacting to the numbers, HUL shares opened on a bullish note at Rs1,504.95, and jumped 2.54% to touch a high of Rs1,543.25 on the BSE. Similarly on the NSE, the stock opened at Rs1,530, then soared to its 52-week high of Rs1,542.40, up 2.58% over its previous closing price.

HUL’s net sales during the quarter under review stood at Rs9,003 crore compared to Rs8,773 crore in the same quarter previous fiscal. Meanwhile, the board of the company has recommended a final dividend of Rs12 for the financial year ended 31 March on equity shares.