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Hindustan Unilever Ltd’s shares hit a fresh 52-week high of Rs 2,522.25, up nearly 2 per cent on the BSE, in intra-day trade on Monday after the management said the outlook from June’21 onwards is likely to stay positive, barring the emergence of a third Covid-19 wave.
The stock of the fast moving consumer goods (FMCG) giant, which was trading higher for the fifth straight day, surpassed its previous high of Rs 2,504.30, touched on April 13, 2021. It had hit a record high of Rs 2,614 on April 8, 2020. In the past one week, it has gained 6 per cent as compared to a per cent decline in the S&P BSE Sensex.
India witnessed the second wave of Covid and went under a state-wise lockdown for a couple of months. However, with faster recovery and drastic fall in positive cases, India is unlocking gradually. Hence, analysts expect categories like packaged food, health, and hygiene, and some discretionary categories like cosmetics, skincare, etc to witness acceleration in demand in H1FY22E.
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