HUL slides nearly 3 pc amid worries over royalty payments
- Congress says Togadia spreading venom; EC seeks recording of alleged hate speech
- Proponents of Article 370 should say how it has helped J&K: Rajnath Singh
- 1984 riots: Akalis protest over Capt Amarinder Singh's clean chit to Jagdish Tytler
- Supreme Court issues notice to Goa Police, agrees to hear Tejpal's bail plea in sexual assault case
- IPL 7 Live Cricket Score, CSK vs DD: CSK win toss, elect to bat first
Shares of Hindustan Unilever today fell by nearly 3 per cent amid reports that Unilever's Indonesian subsidiary has agreed to pay a higher royalty payment to Unilever Plc.
Unilever controls over 52 per cent stake in Hindustan Unilever Limited (HUL), a leading consumer goods company in the country.
The FMCG major's scrip settled for the day 2.65 per cent lower at Rs 529.90 on the BSE. At NSE, the stock ended at Rs 28.75, down 2.96 per cent from its previous close.
The scrip was the top loser among the 30-Sensex blue chips.
"Concerns that HUL may face higher royalty payment to Unilever PLC, created over 2 per cent decline in the stock price today," Milan Bavishi, Head Research, Inventure Growth & Securities said.
As per media reports, Unilever's Indonesian subsidiary has agreed to pay a higher royalty payment to Unilever Plc.
Unilever Indonesia has agreed to sign five-year trademark licence, technology licence and central service agreements with the parent company for about 20-50 per cent of Unilever Indonesia's equity, the reports said.
- 21-year-old dies in road mishap, one injured
- Ask Badals where is Ludhiana Metro: Bhattal to locals
- Arrests in priest murder case divide Catholic Church
- Short Change: EPFO to allot permanent account number to active subscribers by Oct 15
- India Inc profit set to grow, but margins under pressure
- Mulayam: Will amend Constitution for Muslim quota