01-01-1970 12:00 AM | Source: Accord Fintech
Hindustan Unilever rises on signing agreement to sell Annapurna, Captain Cook brands
News By Tags | #788 #71 #572

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Hindustan Unilever is currently trading at Rs. 2531.45, up by 16.40 points or 0.65% from its previous closing of Rs. 2515.05 on the BSE.

The scrip opened at Rs. 2515.50 and has touched a high and low of Rs. 2542.75 and Rs. 2515.50 respectively. So far 5743 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 2741.00 on 09-Dec-2022 and a 52 week low of Rs. 1901.80 on 08-Mar-2022.

Last one week high and low of the scrip stood at Rs. 2602.40 and Rs. 2507.00 respectively. The current market cap of the company is Rs. 596561.22 crore.

The promoters holding in the company stood at 61.90%, while Institutions and Non-Institutions held 25.87% and 12.23% respectively.

Hindustan Unilever (HUL) has signed an agreement for the sale of its atta and salt business carried out under the brands ‘Annapurna’ and ‘Captain Cook.’ The brands are being sold to Uma Global Foods, and Uma Consumer Products which are subsidiaries of Reactivate Brands International, a Singapore-headquartered company and an affiliate of CSAW Aqbator (Singapore). CSAW is focused on acquiring and scaling up food brands to promote affordable wellness.

HUL’s decision to divest is in line with the stated intent of exiting non-core categories while continuing to drive its growth agenda in the packaged foods business of dressings, scratch cooking and soups. The deal envisages the transfer of trademarks, copyrights and other intellectual properties associated with India and several other geographies. The transaction is subject to customary closing conditions, and HUL will continue to manage the business until the completion of the transaction.

Hindustan Unilever is in the FMCG business comprising primarily of Home Care, Beauty & Personal Care and Foods & Refreshment segments.