HUL makes strategic investment – Upstox

Good morning!

Here are the top stories to start your day.

For more updates on F&O, click here.

⭐ HUL makes strategic investment

Hindustan Unilever has forayed into the ₹30,000 crore health & wellbeing industry through strategic investments in two companies – Zywie Ventures and Nutrionalab. For now, HUL will pay a total of about ₹335 crore for 51% stake in Zywie and about 20% in Nutritionalab. The companies have an annual turnover of about ₹100 crore and ₹50 crore, respectively. Zywie focuses on plant based nutrition, skin & hair health and women’s health products, while Nutritionalab has products related to sleep, beauty and gut health. 

⭐ India’s mobile phone export could rise

As per the government, India’s mobile phone exports could witness a rise of upto 57% in the current fiscal year. The exports could be as high as $9.1 billion. Further, it is believed that exports will be of classic and leading brands such as Apple, which is made in India. 

Introducing

Ready-made Option Strategies

The safer way to trade in options

⭐ ITC’s premium segment sees rural demand

FMCG major ITC is witnessing good demand for its premium products in the rural market. As per company management, the uptick in rural market (especially in the personal care product) is due to higher market penetration, rise in number of stockists together with the digitisation of the entire rural distribution network. Recently, the management of Patanjali Foods had also commented that it is working towards the premium end of the oil products. Further, in terms of demand, it expects a strong second half of FY23. 

⭐Domestic air traffic on the rise

As per credit rating agency Icra, domestic air passenger traffic increased by 13% year-on-year to 23.4 million in November. Rise in business and leisure travel along with reopening of offices have propelled domestic air traffic. However despite the rise, the air traffic is still 7% below compared to the same month of the pre-pandemic period.

Global markets (at 8:30 AM today)

Fact of the day

As per the Railway Ministry, Indian railways was able to reduce its diesel consumption by 50% in 2020-21. It thus cut its fuel bill by a whopping ₹5,000 crore in a year. 

Source: Economic Times

Never miss a trading opportunity with Margin Trading Facility

Enjoy 2X leverage on over 370+ stocks