Hindustan Unilever (HUL) fell over 2% to Rs 2,125.15 on the BSE in Wednesday’s intra-day trade on raising prices across its product range by 3-13% in successive tranches in February, with the 100 gm Lux soap pack seeing the steepest rise of 13%, rising to Rs 35 from Rs 31 before.
Also Read| Sensex fell over 600 points while Nifty trades below 16,620 in early trade
The price of Lifebuoy’s 125-gram soap pack has been raised by 6.5%, from Rs 31 to Rs 33. The company raised the pricing of the identical stock-keeping unit from Rs 29 to Rs 31 in January.
Also Read| Trade Setup: Top 15 things to know before market opens on March 2, 2022
A company distributor told the Business-Standard that the company began price hikes across its product line during February. Even in January, it boosted prices by 3-20% across the Wheel, Surf Excel, and Lifebuoy brands. The price hikes are the result of rising raw material costs.
Also Read| US Stock Market: DJIA, S&P500, Nasdaq and Russell fell over 1.5% on Tuesday
HUL has increased the price of its Dove Shampoo (180 ml) stock-keeping unit by 3% to Rs 165 in the current round of price increases, making it one of the goods with the lowest price increases.
It also raised the price of Kissan jam (500 gms) by 3.2% to Rs 160 and Horlicks (1 kg pack) by 4% to Rs 390.
Also Read| Stocks that should be on your watchlist on Wednesday, March 2, 2022
Similarly, Pepsodent toothpaste (80 gms pack) has increased by 4% to Rs 52, and Surf Excel (one kg packet) has increased by 4%. The price of Vim Bar increased by 4% to Rs 26. Another distributor reported price hikes in Lux soap pack bundles, which increased from Rs 150 to Rs 160.
Also Read| Trending Stocks: RIL, BoB, Indiamart, Vedant Fashions and others in news today
HUL raised prices on a variety of items by 1% to 33% in November. It is not the first fast-moving consumer products company to hike prices; most other companies have done the same. Amul increased the price of a litre of milk by Rs 2 on March 1, and Parag Milk Foods followed suit.
