HUL falls for second day on royalty payment concerns

MUMBAI Thu Dec 13, 2012 10:00am IST

The owner of a ''Kirana'' or mom-and-pop grocery store accepts money from a customer in his shop in Mumbai December 7, 2012. REUTERS/Vivek Prakash

The owner of a ''Kirana'' or mom-and-pop grocery store accepts money from a customer in his shop in Mumbai December 7, 2012.

Credit: Reuters/Vivek Prakash

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MUMBAI (Reuters) - Shares in Hindustan Unilever(HLL.NS) fell more than 2.5 percent on Thursday, down for the second day, on concerns that it may face higher royalty payments to its parent Unilever PLC (ULVR.L).

Concerns came after Unilever Indonesia (UNVR.JK) agreed on Wednesday to pay a higher royalty payment to the parent company.

On Wednesday, in response to a Reuters query, the company spokesperson said, "As a policy we do not comment on market speculation." (Reporting by Abhishek Vishnoi; Editing by Gopakumar Warrier)

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