May 15, 2018 / 4:01 AM / 2 months ago

BUZZ-India's Hindustan Unilever hits record high on Q4 beat

** Hindustan Unilever Ltd gains as much as 2.6 pct to 1,542.40 rupees, a record high

** The diversified consumer goods maker reported an about 14 pct rise in profit on Monday, helped by higher sales in its home care business

** Q4 revenue, profit came in ahead of estimates led by 11 pct y-o-y volume growth, which signifies pick-up in demand - Jefferies says in a note

** Though management sounded positive on rural-led demand recovery, brokerage believes current quarter volume growth cannot be extrapolated given one-time benefit from GST-led price cuts

** Jefferies hikes price target on stock from 1,570 rupees to 1,680 rupees; maintains “buy” rating

** Twenty-seven of the 40 analysts covering the stock have a “buy” or higher rating, 8 have “hold” while 5 rate it at “sell”; median PT is 1,519 rupees - Thomson Reuters Eikon data

** Up to Monday’s close, stock has more than doubled in value in 12 months

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