Business

Hindustan Unilever hits new high

Shares of Hindustan Unilever (HUL) has moved higher by 4% at Rs 975, also its record high on the National Stock Exchange (NSE), in otherwise weak market on back of heavy volumes.

The stock opened at Rs 936 and touched a low of Rs 931 so far. Till 1326 hours, a combined 2.42 million shares already changed hands as against an average sub 2 million shares that were traded daily in past two weeks on NSE and BSE.

Post Budget, shares of fast moving consumer goods (FMCG) company has outperformed the market by surging 10% from Rs 887 on February 27, 2015, compared with about 1% decline in the benchmark CNX Nifty.

Meanwhile, HUL has entered into the elite list of companies which having market capitalization (m-cap) of more than Rs 2-lakh crore.

HUL with Rs 210,663 crore m-cap have joined Tata Consultancy Services (TCS), Reliance Industries, ITC, Oil and Natural Gas Corporation (ONGC), HDFC Bank, Infosys, Coal India, State Bank of India (SBI), Sun Pharmaceutical Industries and HDFC, which having m-cap of over Rs 2-lakh crore. Currently, HUL stands at number 11 positions in an overall m-cap ranking.