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IIFL upgrades Hindustan Unilever to add, target price Rs 2,100

Add Hindustan Unilever Ltd. at a price target of Rs 2100.0 .

ETMarkets.com|
Updated: Sep 24, 2019, 08.51 AM IST
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IIFL has upgraded Hindustan Unilever to add in the long term with a target price of Rs 2100. Shares of Hindustan Unilever ended up 3.3% at Rs 2035.40 on Monday while BSE Sensex closed 1075.41 points up at 39,090.03.

Company Financials

For the quarter ended 30-06-2019, the company has reported consolidated sales of Rs 10225.00 crore, up 1.77 % from last quarter sales of Rs 10047.00 crore and up 6.07% from last year same quarter sales of Rs 9640 crore. The company has reported net profit after tax of Rs 1795.00 crore in the latest quarter.

Investment Rationale

The income tax rate cut recently announced by government of India will prima facie increase HUL’s EPS by around 7%, said IIFL. HUL is best placed within the sector to use this windfall to balance between strengthening its competitive position and improving profitability as in some of its core categories, competition is unlikely to enjoy this tax rate cut benefit, said IIFL.
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