While maintaining outperform call on the stock with a price target at Rs 2,010 (implying a 16 percent potential upside), CLSA said Q4FY19 is an important quarter for Indian staples to gauge consumption trends.
Hindustan Unilever shares declined more than 2 percent in morning trade on Friday after the management rejig, but global brokerage house CLSA remained bullish on the stock.
The stock was quoting at Rs 1,697.40, down Rs 39.95, or 2.30 percent on the BSE, at 11:36 hours IST.
The FMCG major, on March 14, has elevated HUL Chairman and Managing Director Sanjiv Mehta as the President of Unilever South Asia with effect from May 1, 2019.
Mehta would also continue as the Chairman and Managing Director of Hindustan Unilever. As part of the new role, he would also become a member of the Unilever Leadership Executive (ULE).
Unilever also announced appointment of Nitin Paranjpe, President, Foods & Refreshment, as the Chief Operating Officer.
He will be responsible for all of Unilever's go-to-market organisations, driving and co-ordinating in-year performance across our countries in line with company's divisional strategies.
Hanneke Faber, currently President, Europe, has been appointed as the President, Foods & Refreshment.
Kees Kruythoff, President, Home Care, has decided to leave Unilever after 27 years of service to pursue external opportunities, the company said.
Peter ter Kulve, Chief Digital Officer and EVP South East Asia & Australasia (SEAA), has been appointed President, Home Care.
While maintaining outperform call on the stock with a price target at Rs 2,010 (implying a 16 percent potential upside), CLSA said Q4FY19 is an important quarter for Indian staples to gauge consumption trends.
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