HUL accounts for more than 11% of Unilever s global sales and its second biggest market after the US in terms of revenue. The maker of Rin detergent, Dove shampoo and Lux soap is also the market leader in most segments it operates in India with nearly 80% of its portfolio either gaining or retaining shares. As part of his market visits, Schumacher met several customers and top executives of Nykaa, Reliance Retail, pharmacy chain Wellness Forever and kirana stores.
The asset management firm sold 2,62,37,880 shares of the Nykaa brand owner at Rs 188.83 a share, bulk deals data showed. Shares of Nykaa parent ended 3% down on the National Stock Exchange at Rs 187.60.
Nykaa has seen a strong breakout after several weeks of consolidation. The stock has seen a formation of long bullish candlestick pattern on the daily charts with healthy volumes.
The Q3 business update released by the company says that the industry level consumption in fashion remained muted. But Nykaa’s fashion vertical saw strong growth