Performance subdued; all eyes on rural recovery

Company
23 Jan 2024
5 Min read 
  • Hindustan Unilever's 3QFY24 performance below expectations, subdued volume growth in rural areas.
  •  Gross margin expanded despite price cuts and promotions, increasing brand investments for volume growth.
  •  Rural recovery and government initiatives expected to aid rural demand in 2024.
  •  Reiterate BUY rating with revised target price of INR 2,900.
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