ICICI Securities retains 'Buy' on Hindustan Unilever Ltd at ₹2,700
Business
ICICI Securities is still backing Hindustan Unilever Ltd (HUL), keeping its "Buy" rating and setting a target price of ₹2,700.
The move comes after HUL's analyst day theme was "WINI - Winning In New India" to keep growth strong and steady.
HUL to spend 3% of revenues
HUL plans to boost spending to 3% of revenues (up from 2%), aiming for more sales volume and smoother operations.
Its focus areas: premium products and higher consumption (40%), expanding into new markets (40%), and exploring fresh business ideas (20%).
ICICI Securities expects HUL's profits and revenue to grow about 11% each year through fiscal 2028, even as the company's operating margin guidance was tweaked to 22-24% from 22.5-23.5%.