External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

External broker reports(aggregated public sources)

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Thematic (Sector/Industry)

<ul><li>Hindustan Unilever: HUL reported 2% UVG with flat value growth as pricing remained negative (passing on softening RM benefits to consumers)</li><li>Mirroring trends of previous quarters, demand recovery remains gradual with the urban market leading growth with premium portfolio sustaining outperformance over the mass portfolio</li><li>Given the benign input cost environment, local competitive intensity remains high</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Hindustan Unilever: HUL reported 2% UVG with flat value growth as pricing remained negative (passing on softening RM benefits to consumers)Mirroring trends of previous quarters, demand recovery remains gradual with the urban market leading growth with premium portfolio sustaining outperformance over the mass portfolioGiven the benign input cost environment, local competitive intensity remains highContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

HSIE Results Daily: Hindustan Unilever, Axis Bank, Indian Hotels

HSIE Results Daily: Hindustan Unilever, Axis Bank,

<ul><li>Hindustan Unilever: HUL’s revenue growth of 3.5% YoY was slow but in line with expectations</li><li>Volume growth was at 2% (HSIE 3%) and sustained a four-year CAGR at &lt;3%</li><li>Rural recovery has been slow despite price cuts and overall softening in the inflation</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Hindustan Unilever: HUL’s revenue growth of 3.5% YoY was slow but in line with expectationsVolume growth was at 2% (HSIE 3%) and sustained a four-year CAGR at &lt;3%Rural recovery has been slow despite price cuts and overall softening in the inflationContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

HSIE Results Daily: Hindustan Unilever, ITC, UltraTech Cement

External broker reports(aggregated public sources), Axis Direct

Axis Direct

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>HUL reported revenue growth of 4% YoY (2% volume growth) to Rs 15,099 Cr, which stood in line with our estimates as the demand environment remained stable.</li><li>Home Care (up 3% YoY) was impacted due to price cuts undertaken in detergent, however premium portfolio continues to remain strong.</li><li>BPC has seen volume recovery and F&amp;R growth was modest. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

HUL reported revenue growth of 4% YoY (2% volume growth) to Rs 15,099 Cr, which stood in line with our estimates as the demand environment remained stable.Home Care (up 3% YoY) was impacted due to price cuts undertaken in detergent, however premium portfolio continues to remain strong.BPC has seen volume recovery and F&amp;R growth was modest. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Hindustan Unilever Ltd - Demand On Recovery Track; Maintain BUY

<ul><li>Our interaction with HUL management reinforced our thesis that demand pickup will be gradual and meaningful volume recovery will not be visible in the near term.</li><li>The rural trend remains stable, with no further improvement or deterioration over the last quarter.</li><li>Urban demand sustained recovery. With HUL initiating price cuts to adjust for a softening commodity basket, value growth will continue to tail off, thereby reducing the divergence between volume and value growth. A</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Our interaction with HUL management reinforced our thesis that demand pickup will be gradual and meaningful volume recovery will not be visible in the near term.The rural trend remains stable, with no further improvement or deterioration over the last quarter.Urban demand sustained recovery. With HUL initiating price cuts to adjust for a softening commodity basket, value growth will continue to tail off, thereby reducing the divergence between volume and value growth. AContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Hindustan Unilever - Growth Lagging Expectation. Maintain REDUCE

India

Hindustan Unilever Limited manufactures and distributes consumer products. The Company offers soap, detergent, personal care products and processed food, ice creams, cooking oils, and other related products. Hindustan Unilever serves customers worldwide.

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Hindustan Unilever (HUVR IN)

HSIE Results Daily: Hindustan Unilever, Axis Bank, Indian Hotels

Hindustan Unilever: HUL reported 2% UVG with flat value growth as pricing remained negative (passing on softening RM benefits to consumers)

HDFC Securities

HSIE Results Daily: Hindustan Unilever, Axis Bank,

Hindustan Unilever: HUL reported 2% UVG with flat value growth as pricing remained negative (passing on softening RM benefits to consumers)

HDFC Securities

HSIE Results Daily: Hindustan Unilever, ITC, UltraTech Cement

Hindustan Unilever: HUL’s revenue growth of 3.5% YoY was slow but in line with expectations. Volume growth was at 2% (HSIE 3%) and sustained a four...

HDFC Securities

Hindustan Unilever Ltd - Demand On Recovery Track; Maintain BUY

HUL reported revenue growth of 4% YoY (2% volume growth) to Rs 15,099 Cr, which stood in line with our estimates as the demand environment remained...

Axis Direct

Hindustan Unilever - Growth Lagging Expectation. Maintain REDUCE

Our interaction with HUL management reinforced our thesis that demand pickup will be gradual and meaningful volume recovery will not be visible in...

HDFC Securities

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