Hindustan Unilever HUL

FMCG major cautiously optimistic on commodity prices, sees rural slowdown bottoming out

To acquire majority stake in OZiva maker, 19.8% in Nutritionalab

HUL also has different formulations of Surf Excel for different parts of the country as the water differs across regions

Says it's seeing 4x increase in e-commerce sales and 2x growth in modern trade

Covid-19 might have set the growth back by a few quarters but the FMCG sector has bounced back

The consumption weakness is due to the impact of inflation, particularly in rural areas, he said

Net profit rises 22.2% on 16.1% increase in revenue

Growth in volumes in the recent past was affected due to a significant surge in product prices

Indian FMCG giant's m-cap is touched $77 billion as compared to $115 billion of Unilever that holds 62 per cent in HUL

However, the counter has lost over 5 per cent from its recent high of Rs 346.25 hit on September 23, 2022 and has underperformed the S&P BSE Sensex, which has lost nearly 2 per cent since then

FMCG companies also expect volume decline to continue in the rural side but see some stabilisation in the business and recovery in demand, starting from the third quarter of FY23

HUL CEO Sanjiv Mehta and UP Chief Minister Yogi Adityanath virtually unveiled the spray dried detergent factory and co-located distribution centre

Revenue was up 19.6% YoY and profit up 13.5% YoY, its highest-ever quarterly figures

Mehta also suggested that the government could use the "huge amount of reserves" to prevent the rupee from depreciating rapidly.

Vedanta, for instance, is majority-owned by Vedanta Resources, led by billionaire Anil Agarwal

Sanjiv Mehta will join Unilever Indonesia's board of commissioners and chair it in a non-executive capacity

Country going through probably the most difficult economic situation, says chairman

The company's board has recommended a final dividend of Rs 19

Palm oil is used in products like cooking oil, processed foods, cosmetics and biofuels.

Leading spice maker MDH Ltd has refuted the reports of a possible sale of its business to FMCG maker HUL. The reports suggested that MDH promoters are in talks to sell their business to HUL. Terming such reports as "completely false, fabricated and baseless", MDH in a message posted on its official Twitter account urged people "not to believe such rumours". "MDH Pvt Ltd is a legacy, which Mahashay Chimi Lal Ji and Mahashay Dharampal Ji nurtured all their lives, and we are committed to taking that legacy forward with all our heart," said a message from MDH Chairman Rajeev Gulati. FMCG major HUL, which owns popular household brands such as - Lux, Lifebuoy, Surf Excel, Rin, Wheel, Ponds - declined to comments on the issue. "We do not comment on market speculation," said an HUL spokesperson. A report had claimed HUL is in talks with the Delhi-based Mahashian Di Hatti Pvt. Ltd (MDH) to buy a majority stake. It had further claimed that the value of this deal may be anywhere between Rs