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Hindustan Unilever Ltd. opened Thursday's session on a weak footing before falling further, marking a sharp 6% decline. The drop came as the stock adjusted for the demerger of its ice-cream business, Kwality Wall’s India, following a special pre-open session.

HUL’s adjusted price stood at Rs 2,424, reflecting the Kwality Wall’s demerger.

The Hindustan Unilever demerger record date is on Friday, Dec. 05. From this session onward, Hindustan Unilever shares will trade ex-ice-cream business, which is Kwality Wall’s (India). The stock exchanges, BSE and NSE, conducted a special pre-open session on the record date to facilitate price discovery. The purpose of the session was to determine the fair value

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