Buy Hindustan Unilever, target price Rs 2440: Motilal Oswal

Motilal Oswal has buy call on Hindustan Unilever with a target price of Rs 2440. The current market price of Hindustan Unilever is Rs 2329.95.

Hindustan Unilever Ltd., incorporated in the year 1933, is a Large Cap company (having a market cap of Rs 546953.20 Crore) operating in FMCG sector.

Financials
For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 11520.00 Crore, up 8.97 % from last quarter Sales of Rs 10572.00 Crore and up 15.70 % from last year same quarter Sales of Rs 9957.00 Crore Company reported net profit after tax of Rs 1974.00 Crore in latest quarter.

Investment Rationale
Retest of breakout with buying in FMCG sector

Promoter/FII Holdings
Promoters held 61.9 per cent stake in the company as of June 30, 2020, while FIIs held 14.8 per cent, DIIs 8.3 per cent and public and others 15 per cent.