The management said it would hike prices by 10 per cent if the current levels of raw material prices sustain
The company delivered robust top-line growth of 15 per cent and a mid-single digit volume growth in March quarter (Q4FY22).
The cost of raw material consumed in the quarter was up 21.3 per cent to Rs 1,858.7 crore
Palm oil is used in products like cooking oil, processed foods, cosmetics and biofuels.
Despite the correction, analysts at HDFC Securities expects more valuation risks in the next few years
HUL hit a fresh 52-week low of Rs 1,942, down 4% in intra-day trade today. The stock has tanked 15% in the past two weeks.
In the past six months, HUL and Britannia have underperformed the market by falling 20 per cent and 15 per cent, respectively, as against 1 per cent decline on the S&P BSE Sensex.
In the past six months, the stock has declined 12 per cent, as compared to a 0.37 per cent decline on the S&P BSE Sensex.
In the FMCG basket, Britannia, Colgate Palmolive, HUL are on the shopping list of A K Prabhakar, head of research at IDBI Capital
According to the technical analyst from Anand Rathi, Britannia is hovering near its 200 DSMA support which also coincides with the ICHIMOKU cloud on the weekly scale, thus the downside seems marginal