HUL divests atta, salt business; stock up 1%
The FMCG major has signed a deal to sell its 'Annapurna' and 'Captain Cook' food brands to Singapore-based Uma Global Foods and Uma Consumer Products for ₹60.4 crore.
The FMCG major has signed a deal to sell its 'Annapurna' and 'Captain Cook' food brands to Singapore-based Uma Global Foods and Uma Consumer Products for ₹60.4 crore.
HUL’s 3Q results were in line with expectations; however, hikes in royalty and central service fees remained key concerns.
HUL is expected to post double-digit growth in both profit and revenue on a yearly basis, but sequentially the top and bottom lines are likely to be muted due to inflation headwinds.
The investment in two D2C brands is part of HUL’s strategy to boost its presence in the health and wellness segment post acquisition of Horlicks.
HUL has reported double-digit growth in top and bottom line during Q1FY23, led by healthcare, and beauty and personal care segments.
Post Q4 results, most of the analysts retained their bullish ratings on HUL shares, with a potential upside of up to 17%.