Hindustan Unilever (HUL) is gaining in trade on the back of Nomura’s brokerage note. Nomura has a target price of Rs 3,000 on the stock.
According to Nomura, April saw a strong momentum, in May it was moderated, and June is seeing a strong rebound.
The brokerage expects a 9 percent volume growth in Q1FY22. They also expect the sales growth in Q1FY22 to be nearly 16 percent.
It also said that despite the second wave of COVID-19, the impact on rural demand has remained resilient. Nomura also believes that HUL is gaining market share in 82 percent of its product portfolio and 87 percent of its product portfolio is seeing a fair amount of penetration gain as well.For more details, watch the video.