HUL to review its Icecream business

The United Kingdom is the owner of Hindustan Unilever Limited, an Indian fast-moving consumer goods (FMCG) company with headquarters in Mumbai. It belongs to the British business Unilever as a subsidiary. Foods, drinks, cleaning supplies, personal hygiene items, and other quickly consumed consumer goods are among its offerings.

HUL is dividing up its worldwide ice cream market:

HUL’s parent company, Unilever, declared on March 19 that it would be dividing its international ice cream business into different legal jurisdictions. Following careful deliberation, the board of HUL has resolved to form an independent directors’ committee (“Independent Committee”) to thoroughly assess the company’s ice cream business prospects and provide recommendations to the board,” the FMCG behemoth stated in a filing with the stock exchanges.

HUL’s board approved the exploration of possible structures and alternatives for the same during the meeting. At their respective meetings, which will be scheduled in due course based on the recommendation of the “Independent Committee,” the Board and Audit Committee will present the matter for final consideration.

FMCG Index all-time high due to HUL:

The Nifty FMCG index, which represents an island of green in a generally quiet market, reached an all-time high thanks to the optimism in HUL. United Breweries, Dabur India, United Spirits, and Marico were among the other gainers on the FMCG index.

HUL is dedicated to continuing to concentrate on reshaping its portfolio in markets with significant growth potential. These markets include those for international cuisine, beauty products, body washes, and liquids for home care. Growth will continue to depend on the future channel strategy as the customer base changes. According to Emkay Global’s most recent report, HUL is actively interacting with channel partners to better satisfy customer needs.

HUL stocks break 52-week high:

After Hindustan Unilever (HUL) announced that it would review its ice cream business strategy, the FMCG company’s shares shot up 3.5% to reach a new 52-week high of Rs. 2,937.50.

Today, the stock began trading higher at 2,840.70, following the lead of the robust overall market. The market capitalization of the company is Rs. 6,87,137.96 crore. The stock has increased 6.44% in the last month, 22.96% in the last half-year, and 10.15% year-to-date (YTD). The stock closed today at Rs. 2,921.80 per share, which is almost 3% up today.

Conclusion: HUL is segregating the global ice cream business, which is good for the long run as per the company’s perspective.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.