Hindustan Unilever slips below 200-dma
Reuters Market Eye - Shares in Hindustan Unilever fall 0.8 percent, dipping below its 200-day moving average for the first time since May 5, 2011.
Falls in Hindustan Unilever come ahead of October-December results due on Tuesday. India's largest consumer goods maker is expected to post a 16 percent rise in third quarter net profit to 8.8 billion rupees, according to StarMine analyst estimates.
Analysts say comments on volume growth and royalty payments to Unilever Plc would be key.
Hindustan Unilever shares have fallen 11.2 percent since October 26 as of Friday's close, after volume growth disappointed in the July-September quarter as well as on royalty payment concerns.
(Reporting by Abhishek Vishnoi)
- Tweet this
- Share this
- Digg this
- U.S. plans to arm Iraq's Sunni tribesmen with AK-47s, RPGs, mortars
- China building South China Sea island big enough for airstrip - report
- Bighorn sheep escapes Los Angeles Zoo, dies after car strikes it
- Apple $450 mln e-book settlement gets final court approval
- India approves $2.6 bln mounted gun purchase - official
India approved on Saturday the purchase of 814 mounted gun systems for the army at a cost of 157.5 billion rupees ($2.55 billion), a defence ministry spokesman said. Full Article