HUL surges to record high; Unilever raises stake

Shares in Hindustan Unilever gained as much as 5.1 percent to a record high on Friday after Unilever said it had acquired a little over two-thirds of the Indian unit following the close of a voluntary tender offer.

Hindustan Unilever shareholders tendered 319.7 million shares to the offer, taking Unilever's holding in the unit to 67.28 per cent from 52.48 per cent, Unilever said in a statement on Thursday.

Hindustan Unilever shares were up 3.7 per cent at 9.24 am after earlier hitting an all-time high of Rs 632.

Image: Sachets of shampoo by Sunsilk, a Hindustan Unilever Limited brand, hang on display at a shop in the old quarters of Delhi May 13, 2013. Mansi Thapliyal/Files/Reuters