Buy HUL near Rs 550: Standard Chartered

Jul 30, 2013, 06.24 PM IST

According to Sanjay Singh of Standard Chartered, one may buy Hindustan Unilever (HUL) near Rs 550. "Rs 550 is the floor for this stock," he adds.

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Buy HUL near Rs 550: Standard Chartered

According to Sanjay Singh of Standard Chartered, one may buy Hindustan Unilever (HUL) near Rs 550. "Rs 550 is the floor for this stock," he adds.

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Buy HUL near Rs 550: Standard Chartered

According to Sanjay Singh of Standard Chartered, one may buy Hindustan Unilever (HUL) near Rs 550. "Rs 550 is the floor for this stock," he adds.

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Sanjay Singh of Standard Chartered told CNBC-TV18, "We have written in our note that because of the open offer hangover it will be a long time before HUL stock prices align fundamentally to fundamentals and hence valuations will be little ahead of historical. There is no point in comparing historical valuations. Also many of the medium term and short-term investors have moved out of the stock in the open offer and hence whoever is left is more long only and even they are probably underweight on the stock."

He further added, "Given this background my sense is we will not see any dramatic fall in the stock or any dramatic change in valuations in the near term in the next three-six months. Hence, our call has been even before the open offer that the stock will not go below Rs 550; Rs 550 is the floor for this stock. I would look at buying the stock at those levels if at all it comes near that."

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