BUZZ-Hindustan Unilever falls after adjusting for ice cream business spin-off
Reuters
Dec 05
BUZZ-Hindustan Unilever falls after adjusting for ice cream business spin-off
** Hindustan Unilever HLL.NS falls 2.4% to 2,365 rupees
** Stock adjusts for demerger of ice cream business
** Shareholders of consumer staples major get one share of demerged ice cream business unit Kwality Wall's (India)
** ICICI securities says ice cream business contributes ~3% to co's revenues and insignificantly to bottomline
** Adds that ice cream business likely valued at 95 billion rupees ($1.06 billion)-119 billion rupees; value per share is 40-50 rupees
($1 = 89.8560 Indian rupees)
(Reporting by Vivek Kumar M)
((VivekKumar.M@thomsonreuters.com;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.