Hindustan Unilever Limited, a leading FMCG company in India, reached a new peak on Thursday, driven primarily by developments in its ice cream business. Last March, Unilever, the parent company, decided to spin off its ice cream segment. This led to the formation of a dedicated committee to explore ways to enhance the ice cream business. On September 9, Hindustan Unilever’s board approved new strategies for this segment.
Following the spin-off decision, Hindustan Unilever’s shares soared to an all-time high of Rs 2,923 per share on the national stock exchange. The company has also expressed ambitions to drive further innovation in personal care products, body wash, and household items. Brokerage firms are optimistic, suggesting that the stock price could potentially rise to Rs 3,200 per share.