Worries over sales weigh on Hindustan Unilever shares
Reuters Market Eye - Shares of Hindustan Unilever (HLL.NS) fall 1.4 percent after the company's sales volume growth in the March quarter came in at 3 percent, lagging analyst estimates of 4-5 percent, dealers say.
The company's sales growth stayed muted for the eighth straight quarter, hurt by a sluggish economy. India's largest consumer goods maker said it did not expect a demand recovery in the near-term.
Dealers expect Hindustan Unilever's margins to remain flat as input costs and royalty rates inch up.
Hindustan Unilever shares have gained 0.4 percent so far this year as of Monday's close, well below the 6.7 percent rise in the broader Nifty.
(Reporting by Abhishek Vishnoi)
- Tweet this
- Share this
- Digg this
Prime Minister Narendra Modi has a long list of pro-growth measures to implement over the next four months, but time may have already run out to breathe enough life into the economy to meet the tough 2014/15 fiscal deficit target without cuts. Article