Edelweiss and Motilal Oswal have retained buy ratings. IIFL and Kotak Institutional Equities have maintained add ratings.
“HUL’s annual analyst meet has renewed our conviction on its credentials as India’s best-run consumer company,” said Edelweiss.
CLSA said HUL remains its preferred pick but it has downgraded the stock to outperform from buy given its recent rally. The stock ended down nearly 1% on Monday, but is up nearly 16% in the last one month.
“We see a progressively improving outlook with a sharp business recovery in its mix in favour of its highmargin beauty portfolio, partial commodity price easing, recent price hikes and integration benefits in its nutrition portfolio,” said CLSA.
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