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)
Trending On Reuters
Jindal Steel and Power is in advanced talks with some resources firms to sell more steel and mining assets, its CEO told Reuters, adding the company hopes to close a $976 million power plant deal well before a mid-2018 deadline. Full Article