Hindustan Unilever Ltd gained for a third straight session today. The stock is quoting at Rs 2825, up 1.1% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is down around 0.55% on the day, quoting at 25139.95. The Sensex is at 82176.26, down 0.46%. Hindustan Unilever Ltd has risen around 4.02% in last one month. Meanwhile, Nifty FMCG index of which Hindustan Unilever Ltd is a constituent, has risen around 3.14% in last one month and is currently quoting at 63485.75, down 0.01% on the day. The volume in the stock stood at 8.12 lakh shares today, compared to the daily average of 16.94 lakh shares in last one month. The benchmark September futures contract for the stock is quoting at Rs 2837.15, up 0.93% on the day. Hindustan Unilever Ltd is up 12.68% in last one year as compared to a 28.43% jump in NIFTY and a 23.15% jump in the Nifty FMCG index.The PE of the stock is 64.02 based on TTM earnings ending June 24.Powered by Capital Market - Live

The domestic equity indices traded with limited gains in afternoon trade. The Nifty traded near the 25,050 level after hitting the day's low of 24,973.65 in morning trade. Media, financial services and pharma shares advanced while FMCG, consumer durables and metal shares declined. At 13:30 IST, the barometer index, the S&P BSE Sensex added 114.93 points or 0.14% to 81,813.92. The Nifty 50 index gained 41.55 points or 0.15% to 25,047.80. The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.45% and the S&P BSE Small-Cap index gained 0.46%. The market breadth was strong. On the BSE, 2,177 shares rose and 1,675 shares fell. A total of 120 shares were unchanged. Gainers & Losers: Larsen and Toubro (up 2.32%), SBI Life Insurance Company (up 2.02%), Maruti Suzuki India (up 1.81%), HDFC Life Insurance Company India (up 1.68%) and Shriram Finance (up 1.65%) were major Nifty gainers. Hindustan Unilever (down 1.68%), Titan Company (down 1.49%), JSW Steel (down 1.35%), Tata Motors (down 1.14%) and NTPC (down 1.12%) were major Nifty losers. Hindustan Unilever slipped 1.68% after the FMCG major informed that it has received a demand of Rs 962.75 crore from the Income Tax Department, including an interest of Rs 329.33 crore. Stocks in Spotlight: UltraTech Cement shed 0.11%. The company announced that it has raised $500 million through a sustainability-linked loan (SLL) with participation from six banks. SLLs are loans where the interest rate is linked to the borrower's sustainability performance. This transaction represents second sustainability-linked financing raised by UltraTech, following its inaugural sustainability-linked bond issuance in 2021. JSW Energy rose 2.45% after the company's wholly owned subsidiary JSW Neo Energy has received letter of award (LoA) for setting up a wind-solar hybrid power project from Maharashtra State Electricity Distribution Company (MSEDCL). RVNL fell 0.26%. The company said that it has emerged the lowest bidder for signalling sections of Chennai Division project worth Rs 111.38 crore from Southern Railway. Bondada Engineering hit an upper circuit of 5% after the company announced that it has received a contract worth Rs 575.74 crore to execute solar projects across various districts in Maharashtra. Adani Power rose 0.33%. The power generation company has incorporated a wholly owned subsidiary, Adani Power Middle East in Abu Dhabi. Ceigall India gained 2.08% after company's consolidated net profit from continuing operations stood at Rs 77.85 crore in Q1 FY25, registering a growth of 76.53% as against Rs 44.10 crore posted in Q1 FY24. Revenue from operations stood at Rs 822.39 crore in the quarter ended 30 June 2024, up 26.49% as against Rs 650.17 crore posted in corresponding quarter last year. Lemon Tree Hotels rose 0.45%. The company said that it has entered into a license agreement viz Lemon Tree Hotel, Civil Lines, Ayodhya. The said property shall be managed by Carnation Hotels, a wholly owned subsidiary of Lemon Tree Hotels and is expected to open in FY 2028. This hotel will feature 80 well-appointed rooms, a restaurant, a rooftop lounge bar, a swimming pool, a fitness center, banquet halls and other public areas. Global Markets: European market advanced while Asian stocks traded mixed on Tuesday, as investors assessed geopolitical risks. Additionally, Canada's imposition of tariffs on Chinese electric vehicles, steel, and aluminum, mirroring similar moves by the United States and European Union, further dampened sentiment. Investors are closely watching Nvidia's earnings report for insights into AI-related investments. In the U.S., the Dow Jones Industrial Average reached a new high on Monday, recovering from a recent sell-off. However, the S&P 500 and Nasdaq Composite declined. A shift from technology stocks to other sectors was evident. Market participants are now focused on the upcoming release of the U.S. personal consumption expenditure price index (PCE) on Friday and the August payrolls report next week. Federal Reserve Chair Jerome Powell's speech on Friday signaled an imminent start to interest rate cuts, with markets fully pricing in a 25-basis-point reduction in September. Expectations for further easing in the coming months have also increasedPowered by Capital Market - Live

Hindustan Unilever (HUL) said that the demand has been issued for the non-deduction of tax deducted at source for a remittance of Rs 3,045 crore for the payment towards acquisition of India Health Food Drink (HFD) Intellectual Property Rights (IPR) from GlaxoSmithKline 'GSK' Group entities. The demand was raised by the office of the Deputy Commissioner of Income Tax, Mumbai, through a letter on 23 August 2024. HUL stated that the demand will not have any significant financial implications at this stage. 'The company has strong case on merits on tax not withheld, basis available judicial precedents, which have held that the situs of an intangible asset is linked to the situs of the owner of the intangible asset and hence, income arising on sale of such intangible assets are not subject to tax in India,' said the company. Further, the company has an indemnification right to recover the demand raised by the Income Tax department and will undertake necessary steps in furtherance of the same, it added. Hindustan Unilever is India's largest fast moving consumer goods company. The FMCG major reported 2.67% rise in standalone net profit to Rs 2,538 crore in Q1 FY25 as compared to Rs 2,472 crore recorded in Q1 FY24. Revenue from operations was at Rs 15,166 crore in Q1 FY25, up 1.57% from Rs 14,931 crore reported in the same period a year ago. Shares of Hindustan Unilever shed 0.74% to Rs 2,799.75 on the BSE. Powered by Capital Market - Live