India, Sept. 29 -- Shares of Hindustan Unilever Ltd. fell at the open today after India's largest FMCG maker warned of a sales decline due to rollout of GST reforms.
HUL share price fell as much as 2.68% to Rs.2,443.50 apiece intraday even as the benchmark BSE Sensex rose 0.39% to 80,744.01 points.
On Friday, the India unit of Unilever Plc informed the stock exchanges that it revenue growth to be flat or in low single-digit percentages for the quarter ended 30 September due to the rollout of GST 2.0.
"While this measure supports long-term consumption, we have seen a transitory impact in the form of disruption at distributors and retailers across channels to clear existing inventories with old prices," the company stated.
On 4 Septembe...
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