Hindustan Unilever gains on the BSE
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Hindustan Unilever is currently trading at Rs. 2424.15, up by 19.25 points or 0.80% from its previous closing of Rs. 2404.90 on the BSE.
The scrip opened at Rs. 2411.95 and has touched a high and low of Rs. 2424.95 and Rs. 2402.00 respectively. So far 18661 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 2768.50 on 07-Jul-2023 and a 52 week low of Rs. 2347.00 on 15-Feb-2024.
Last one week high and low of the scrip stood at Rs. 2424.95 and Rs. 2365.05 respectively. The current market cap of the company is Rs. 568448.36 crore.
The promoters holding in the company stood at 61.90%, while Institutions and Non-Institutions held 26.00% and 12.10% respectively.
Hindustan Unilever (HUL) and the Andhra Pradesh Government are looking to collaborate on palm oil production in the state. HUL seeks to partner with more than 15,000 farmers in Andhra Pradesh to create at least 30,000 hectares of oil palm plantations. The proposed plan involves setting up sapling nurseries, palm fresh fruit bunch collection centres and a state-of-the-art palm oil mill in the state, leading to investments of over Rs 300 crore over the project development period. The proposed palm oil mill is expected to create over 1000 direct and indirect jobs in the state.
With the investment in palm oil mill, HUL seeks to partner with the farmers of Andhra Pradesh in making a sustainable transition to oil palm plantations. This will be done after considering the social, environmental, and economic base lines in the selected sites and developing a strategy to deliver positive impact. HUL sees an opportunity to contribute to the sustainable localisation of palm oil production in India.
As part of this proposed partnership, HUL will support farmers of Andhra Pradesh by establishing nurseries for the distribution of palm seedlings and providing agricultural extension services. HUL will establish a comprehensive farmer outreach programme to provide technical assistance to farmers for growing palm oil and introduce the best-in-the-class farming practices in line with the company’s global sustainable and regenerative agriculture principles.
Hindustan Unilever is in the FMCG business comprising primarily of Home Care, Beauty & Personal Care and Foods & Refreshment segments.
