HUL stock down 2 per cent as Q2 net slips

Shares of FMCG major Hindustan Unilever Ltd on Wednesday fell by nearly 2 per cent after the company reported a decline of 2.62 per cent in its standalone net profit for the second quarter ended September 30.

The stock slipped 1.85 per cent to settle at Rs. 797.40 on BSE. During the day, it fell by 2.98 per cent to Rs. 788.15. On the NSE, shares of the company went down by 1.93 per cent to Rs. 797.20.

Following weakness in its stock price, HUL’s market valuation fell by Rs. 3,245.11 crore to Rs. 1,72,546.89 crore. HUL reported a decline of 2.62 per cent in its standalone net profit at Rs. 962.24 crore for the second quarter ended September 30, 2015-16.