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HUL share price gains 2% after operations resume across plants

Share price of HUL gained 1.94% to Rs 2,148 against previous close of Rs 2,107 on BSE. HUL share has gained 7.21% in last 6 days

twitter-logoBusinessToday.In | June 3, 2020 | Updated 19:44 IST
HUL share price gains 2% after operations return to normal across plants
HUL said its operations across manufacturing sites, distribution centres, warehouses and extended supply chain partner locations were disrupted due to the coronavirus lockdown

Hindustan Unilever Ltd (HUL) share  price gained nearly 2% intra day today after the FMCG firm said all its factories and warehouses, except one in Assam, are now open. Share price of HUL gained 1.94% to Rs 2,148 against previous close of Rs 2,107 on BSE. HUL share has gained 7.21% in last 6 days .

The stock  hit its 52-week high of Rs 2,614 on April 8 , 2020 and 52-week low of Rs 1,660 on July 22, 2019. The large cap share trades higher than 5 day, 20 day and 200 day moving averages but lower than 50 day and 100 day moving averages. Total 1.33  lakh shares of the firm changed hands amounting to turnover of Rs 28.17 crore on BSE.

The stock has gained 15.41% in last one year and risen 10.23% since the beginning of this year. 25 of 36 brokerages rate the stock "buy" or 'outperform', 8 "hold", two "underperform" and one "sell", according to analysts' recommendations tracked by Reuters.

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HUL said its operations across manufacturing sites, distribution centres, warehouses and extended supply chain partner locations were disrupted due to the coronavirus lockdown.

The firm said it was able  to  gradually  improve  the operations to 70% in April. Now, the company has been able to ramp-up its production  to  80-90%  of  normative  levels. "Almost all our suppliers in India,  who  were  not  operating  at  all  in  the  initial  period  of  the  lockdown,  are  now operational. All our  office-based  employees  have  continued  to  work-from-home with effect from March 17, 2020," the firm added. 

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