Wed Oct 23 11:54:04 UTC 2024: **Summary of HUL’s Ice Cream Business Demerger Announcement:**
1. **Company Announcement**: Hindustan Unilever Limited (HUL) will demerge its ice cream business, following a previous decision to separate its hotels business. This move aims to unlock shareholder value.
2. **Board Decision**: The Board met on October 23, 2024, and, upon recommendation from an Independent Committee, decided on the separation of the ice cream segment.
3. **Future Plans**: The Board will finalize the mode of separation by the end of 2024, focusing on maximizing shareholder value.
4. **Stock Market Update**: HUL’s stock closed down by 0.90% (Rs 24.05) at Rs 2,658.00 on the BSE on the announcement day, although it has grown by 6.98% over the past year, compared to the Nifty 50 index’s rise of 26.73%.
5. **Important Context**: The demerger is part of HUL’s strategy to enhance focus and performance in specific business segments.
6. **External Links**: Updates and further details are available through various financial news platforms and social media.
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