Sharekhan is bullish on Hindustan Unilever has recommended buy rating on the stock with a target price of Rs 1900 in its research report dated October 12, 2018.
Q2FY2019 performance of HUL was ahead of expectations with 21.4% growth in the adjusted PAT; with a revenue growth of 11%. Volume growth of the domestic business stood at 10% (4th consecutive quarter of double digit volume growth) and we expect the volume growth momentum to sustain over the forthcoming quarters with a pick in the rural demand.
We maintain our Buy recommendation on the stock of HUL with an unchanged price target of Rs. 1,900.
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