HUL rises on incorporating subsidiary for demerger of ice cream business
Hindustan Unilever is currently trading at Rs. 2451.30, up by 9.35 points or 0.38% from its previous closing of Rs. 2441.95 on the BSE.
The scrip opened at Rs. 2420.85 and has touched a high and low of Rs. 2454.40 and Rs. 2412.00 respectively. So far 82942 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 3034.50 on 23-Sep-2024 and a 52 week low of Rs. 2170.25 on 16-Apr-2024.
Last one week high and low of the scrip stood at Rs. 2473.00 and Rs. 2362.10 respectively. The current market cap of the company is Rs. 575567.62 crore.
The promoters holding in the company stood at 61.90%, while Institutions and Non-Institutions held 26.33% and 11.77% respectively.
Hindustan Unilever (HUL) has incorporated a wholly owned subsidiary (WOS) in the name of Kwality Wall’s (India) (KWIL). KWIL has been incorporated on January 10, 2025, with the main object of engaging in manufacture, marketing, distribution and sale of ice creams, frozen desserts (both dairy and non-dairy), frozen snacks, frozen vegetables and frozen processed food of all kinds.
Earlier, based on the recommendation of the Independent Committee, the Board had accorded its in-principle approval for demerger of Ice Cream business into an independent listed entity. Further, for the purpose of the proposed demerger, the Board had also approved incorporation of a wholly owned subsidiary of the Company.
KWIL has been incorporated for the purpose of the proposed demerger of the Company’s Ice Cream business, which is currently under evaluation by the Board of the Company.
Hindustan Unilever is in the FMCG business comprising primarily of Home Care, Beauty & Personal Care and Foods & Refreshment segments.
