HUL becomes most valued FMCG firm in terms of market capitalisation, surpasses ITC
Hindustan Unilever Ltd (HUL) on Friday went past ITC in market valuation to become the most valued FMCG firm
New Delhi: Hindustan Unilever Ltd (HUL) on Friday went past ITC in market valuation to become the most valued FMCG firm.
At close of trade on Friday, HUL commanded a market capitalisation (m-cap) of Rs 3,47,212.06 crore, which was Rs 2,867.88 crore more than that of ITC's Rs 3,44,344.18 crore valuation.
With this, HUL also became the fourth most valuable Indian company.
HUL was the top gainer among the 30-Sensex scrips.
HUL on Thursday briefly surpassed ITC in market valuation ranking to become the fourth most valued firm.
Shares of HUL rose by 2.22 percent to end at Rs 1,604.10 on BSE. Intra-day, it jumped 2.45 percent to Rs 1,607.85.
ITC's shares ended 1.13 percent higher at Rs 282.15. During the day, it rose by 2.29 percent to Rs 285.40.
Tata Consultancy Services is the country's most valued firm with a valuation of Rs 6,70,450.51 crore, followed by Reliance Industries Ltd (Rs 5,91,353.05 crore), HDFC Bank (Rs 5,22,745.23 crore), HUL and ITC in the top five list.
Diversified group ITC Ltd on Wednesday reported 9.86 percent increase in standalone net profit at Rs 2,932.71 crore for the fourth quarter ended on 31 March, 2018.
FMCG major Hindustan Unilever Ltd (HUL) earlier this week reported 14.2 percent increase in standalone net profit to Rs 1,351 crore for the fourth quarter ended 31 March.
Hindustan Unilever , controlled by consumer goods giant Unilever, warned India's consumer spending will remain weak as the economy sags after its own profit rose 8 percent on robust sales of soaps and detergents.<br />
Shares of Hindustan Unilever fell today after investors turned bearish on the stock as parent Unilever warned on Monday that a slowdown in emerging markets accelerated in the July-September quarter.<br /><br />
FMCG major Hindustan Unilever (HUL) on Thursday reported a 13.84 percent increase in its net profit to Rs 1,538 crore for the quarter ended 31 March