HUL share price up 5% as stocks like Dabur, Colgate gain in weak market. Should you buy?

HUL share price: HUL expects gradual demand recovery backed by increased government spending, macro indicators and better monsoon forecast.

HUL share price: Shares of fast moving consumer goods (FMCG) companies traded higher amid heavy volumes in a weak market today following the results of Lok Sabha elections. Among these stocks, Dabur India, Colgate- Palmolive (India), Marico, Hindustan Unilever (HUL), Emami and Britannia Industries are up in the range of 2 per cent to 5 per cent on the BSE.

HUL share price: HUL expects gradual demand recovery backed by increased government spending, the company said.

Shares of HUL are up 3 per cent to ₹2,427 on the BSE in intra-day trade as the company expects gradual demand recovery backed by increased government spending, macro indicators and better monsoon forecast.

Marico had said in Q4FY24 earnings call that macroeconomic indicators, government spending, monsoon forecast, retail inflation and reduced volatility in commodity prices will result in a gradual uptick in consumption sentiment across both urban and rural segments. Shares of the company were up 3.4 per cent to ₹614.90 today.

Dabur India rallied 5 per cent to ₹573.20 as a combined 5.69 million changed hands on the NSE and BSE. The company’s domestic volume grew 4.2 per cent year-on-year (YoY) in March quarter (Q4) and its rural markets grew ~400 bps ahead of urban markets (8 per cent and 4 per cent, respectively), Kotak Institutional Equities said.