Hindustan Unilever board approves formation of new 100% owned subsidiary; stock rises 1%

This new subsidiary has been formed to leverage the growth opportunities in a fast-changing business environment and will help HUL in becoming more agile and customer-focused, the FMCG company said in the press note.

Feb 25, 2020 06:02 IST India Infoline News Service

Hindustan Unilever
The Board of Directors of Hindustan Unilever Limited (HUL) approved a proposal to form a new 100% subsidiary of Hindustan Unilever Limited. This Company will be incorporated with an authorised share capital of Rs2,000cr.  

This new subsidiary has been formed to leverage the growth opportunities in a fast-changing business environment and will help HUL in becoming more agile and customer-focused, the FMCG company said in the press note.

Stock view:

Hindustan Unilever Ltd is currently trading at Rs2,245.30, up by Rs29.3 or 1.32% from its previous closing of Rs2,216 on the BSE. The scrip opened at Rs2,216.15 and has touched a high and low of Rs2,279 and Rs2,216.15 respectively.

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