Largecap FMCG giant HUL to demerge its ice cream business
"It is hereby informed that the Board, at its meeting held today on 23rd October, 2024, has decided to separate the Ice Cream business, based on the recommendation of the Independent Committee," HUL said in a statement on Wednesday.
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07:41 PM IST
HUL to demerge its ice cream business, HUL latest news: Large-cap FMCG giant Hindustan Unilever Limited (HUL) announced today (Wednesday, October 23, 2024) that it would demerge its ice cream business.
Earlier, it had announced to demerge its hotels business to unlock value for its shareholders.
"It is hereby informed that the Board, at its meeting held today on 23rd October, 2024, has decided to separate the Ice Cream business, based on the recommendation of the Independent Committee," HUL said in a statement on Wednesday.
"Based on the further recommendations of the independent committee, the Board will determine the mode of separation by the end of this year with an objective of maximising value for all shareholders."
Hindustan Unilever share price history
The stock of Hindustan Unilever closed trading on BSE on Wednesday down by 0.90 per cent, or Rs 24.05, at Rs 2,658.00 each.
The stock of the FMCG giant has grown by 6.98 per cent in the 1-year period.
The benchmark Nifty 50, meanwhile, has jumped 26.73 per cent.
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