January 18, 2018 / 4:16 AM / a year ago

BUZZ-India's Hindustan Unilever hits record high on Q3 profit beat

** Hindustan Unilever Ltd rises as much as 2.6 pct to 1,406.90 rupees, a record high

** The consumer goods maker posted a 28 pct increase in Q3 profit on Wednesday, beating estimates, underpinned by higher sales from its personal care business

** Gradual recovery in volume growth is underway; combination of rolling price growth and cost efficiencies is driving strong margin expansion - Morgan Stanley

** Headline volume growth over next three quarters will be strong (off a weak base) - analysts add

** Morgan Stanley raises target price to 1,120 rupees from 1,000 rupees; maintains ‘underweight’ rating on stock

** 25 of 40 brokerages rate the stock “buy” or higher, 11 “hold” and four “sell”; their median PT is 1,430 rupees - Thomson Reuters Eikon data

** Up to Wednesday’s close, stock had risen 63 pct in 12 months, compared with a 26 pct gain in the Nifty FMCG index

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