HUL drops as Jefferies downgrades stock

Hindustan Unilever (HUL) dropped on Monday after Jefferies, a global securities and investment banking group, downgraded the company to 'underperform' from 'hold'.

Commenting on the downgrade, Jefferies said the recent growth in revenue would prove 'unsustainable' given the highly cyclical nature of the consumer goods sector, while citing 'rich' implied valuations.

Shares ofthe companyare trading at Rs 543.75, down Rs 8, or 1.45% at the Bombay Stock Exchange (BSE) on Monday at 12:37 p.m.

The scrip has touched an intra-day high of Rs 552 and low of Rs 543.30. The total volume of shares traded at the BSE is 159,149.In the earlier session, the shares declined 2.14%, or Rs 12.05, at Rs 551.75. Currently, the stock is trading down 6.19% from its 52-week high of Rs 579.60 and above 59.22% over the 52-week low of Rs 341.50.

Share Price Movement Period Pricein Rs Gain/(Loss) in Rs in % 1 Week 566.55 (14.80) (2.61) 1 Month 536.15 15.60 2.91 3 Months 464.70 87.05 18.73 6 Months 416.35 135.40 32.52 1 Year 349.45 202.30 57.89 Note: Based on previous day closing price.