Stock market analyst Ashwani Gujral of stockmechanics.com maintained ‘Buy’ rating on Hindustan Unilever Ltd (HUL) to achieve a short term target between Rs 296 – Rs 305.

According to Mr. Gujral, interested traders can buy the stock with a strict stop loss of Rs 267.

Today (July 07), the shares of the company opened at Rs 650, up Rs 15.85, on the Bombay Stock Exchange (BSE). The total volume of the shares traded stood at 601,237. The scrip hit an intraday high of Rs 282.80 and an intraday low of Rs 268.05.

Current EPS & P/E ratio stood at 9.70 & 28.44 respectively. The share price has seen a 52-week high of Rs 282.80 and a low of Rs 185 on BSE.

Mr. Gujral said that the stock is ready to hit a new 52-week in the coming days. So, the investors must buy the stock to reap good returns.

Hindustan Unilever (HUL), on July 04, has decided to be conservative with its capex keep it under control, but will spend it only to get growth.

While confirming the above move, Harish Manwani, Chairman, HUL stated that the company has started to rationalise prices in many of its businesses reasoning out that they had to raise them because of raw material costs rising.

Hindustan Unilever (HUL), in June 2009, said that it has decided to postpone its plan of divesting 49% equity stake in its BPO unit to Capgemini SA to March 2010.

Previously, HUL had scheduled to buy the stake by March 2009.

It is discovered that the manufacturer of Lifebuoy soaps and Surf detergent has amended the shareholder's contract with Capgemini SA permitting it to exit a year later than originally projected.

Sources attribute the matter to evaluation differences between the both associates.

HUL is India's biggest FMCG company, with leadership in Home & Personal Care Products and Foods & Beverages. HUL's brands, spread across 20 distinct consumer categories, touch the lives of two out of three Indians.