29-Oct-2026 08:33:58

MORGAN STANLEY ON HINDUSTAN UNILEVER ; EQUAL-WEIGHT | TP ₹2,480

• Morgan Stanley maintains Equal-Weight rating on Hindustan Unilever with a target price of ₹2,480. • Q2 underlying sales grew 15% YoY, supported by 7% volume growth. • EBITDA margin declined 142 bps YoY to 22.6% due to inflationary pressures. • Demand remained resilient despite inflation and margin pressures. • Home Care and Beauty & Wellbeing segments led growth, supporting overall business performance.

HINDUSTAN UNILEVER LTD.

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