homemarket Newsstocks NewsPositive on HUL, prefer Dabur and Emami over Marico, says Edelweiss' Abneesh Roy
Positive on HUL, prefer Dabur and Emami over Marico, says Edelweiss' Abneesh Roy
Fast-moving consumer goods (FMCG) major Hindustan Unilever Ltd (HUL) reports an in-line set of Q3 earnings with domestic volume growth at 4 percent. Abneesh Roy, Executive Vice President-Institutional Equities, Edelweiss Securities analysed.
Fast-moving consumer goods (FMCG) major Hindustan Unilever Ltd (HUL) reports an in-line set of Q3 earnings with domestic volume growth at 4 percent. Abneesh Roy, Executive Vice President-Institutional Equities, Edelweiss Securities analysed.
“We are quite positive on HUL. We are also seeing pricing power come back for HUL and for most companies. So HUL is taking one more price hike in soap. I am very sure that in tea and soap HUL is gaining market share from the smaller and the regional players,” he said.
The target price for HUL is at Rs 2,800 per share, Roy said.
“This is the first quarter wherein FMCG companies and HUL are seeing urban growth come back and rural continues to remain quite strong. We have a Rs 2,800 target price for HUL. Laundry sales, discretionary, out-of-home and ice cream, these four segments are still seeing some level of dip but starting from this quarter, that is Q4FY21, we will see growth coming back in almost all of these segments.”
On other stocks, Roy said, “Marico posted a good set of numbers. The hair oil category is seeing a very good revival. We expect good numbers from Bajaj Consumers, from Dabur India, Emami also has shown good growth.”
Prefer Dabur and Emami over Marico, he added.
“We will prefer Dabur and Emami over Marico in the current context, given the margin pressure in Marico,” Roy said.
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(Edited by : Ajay Vaishnav)
First Published: Jan 28, 2021 10:05 AM IST
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