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HomeBusinessHindustan Unilever's bet on spice brand MDH! Shares of the company sold...

Hindustan Unilever’s bet on spice brand MDH! Shares of the company sold heavily from the news

FMCG sector giant Hindustan Unilever Limited (HUL) may soon buy a stake in well-known spice brand Mahashiyan Di Hatti i.e. MDH. After this news, there has been a sell-off in HUL’s stock.

Shares broken 4 percent: During Tuesday’s trading, the share price of Hindustan Unilever fell by four percent to fall below Rs 1990. At the same time, if we talk about the market capital, it is close to Rs 4 lakh 68 crore. Let us tell you that on March 8 in the same month, the share price went up to Rs 1,901.80, which is a 52-week low.

What’s the news: According to a Mint report, Hindustan Unilever is in talks with MDH Spices to buy a majority stake. The valuation of MDH could be between Rs 10,000-15,000 crore. However, there was no response from Hindustan Unilever and MDH Spices on these reports.

Let us tell you that recently Hindustan Unilever had changed its management. The company has included Madhusudan Rao and Deepak Subramaniam in its management committee. At the same time, talking about the company’s quarterly results, there has been a growth of 16.8 percent year-on-year in standalone net profit for the quarter ended December 31, 2021.

Due to this the profit had reached the level of Rs 2,243 crore. The company had posted a net profit of Rs 1,921 crore in the same period a year ago. Revenue grew by 10.2 per cent to Rs 13,183 crore as compared to Rs 11,959 crore in the corresponding quarter of last fiscal.

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