Nifty 50 Slumps: Hindustan Unilever, SBI Life, Hindalco, and Nestle India Lead Decline

Indian bourses are under pressure on Friday, February 24, 2023 and the Nifty 50 index has slipped further into the red as most stocks also dipped into the negative territory.

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The most active stock in terms of volume was seen in Hindustan Unilever where the share price dropped 5.81%, closing the day at ₹2504. The company has its headquarters in Mumbai and has been predominantly in the food and beverage business although it also manufactures and sells some beauty, hygiene and household cleaning products. The company reported its results for the second quarter ended December 31 with a consolidated net profit of ₹2,591 crores.

Next comes S.B.I. Life Insurance share which experienced a 4.67% drop to close at ₹1,635. This company ranks among the leaders in life insurances companies in India.

Hindalco Industries Ltd also strained, with the shares settling at a value drop of 3.71% to close at ₹690. The corporation has its Headquarters in Mumbai and its employee base is over 71000.

Nestle India Limited was the other company of the firm in respect of which this effect was also being felt adversely. Yet again, it is a food and beverage company whose equity stock recorded an average decline of 2.76% and is currently valued at Rs 2,263. The company which claims to specialize in consumable goods, has a net revenue of Rs. 19,247 crores while having an unwavering focus on developing chocolate related goods.

Disclaimer: The information provided is for educational purposes only and does not constitute financial advice. We are not registered financial advisors. Please conduct your own research and consult a qualified advisor before making investment decisions. Any investment decisions you make based on this information are solely at your own risk.

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As Stated in Bhagavad Gita:

दुःखेष्वनुद्विग्नमना: सुखेषु विगतस्पृह:।

One who is not disturbed by the dualities of happiness and distress, and is unbothered by them, is certainly eligible for liberation.

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