The GSK Group sold a 5.7% stake (13.37 crore shares) in Hindustan Unilever Limited (HUL) through multiple block deals in the open market at an average price of Rs. 1,902 per share. The stock has corrected by ~16% from its high and its currently trading at 48.1x its FY2022E earnings. GSK Group selling the stake has reduced supply overhang on the stock and the current valuations factors in a sluggish Q4 due to supply disruption caused by the nationwide lockdown in the fag-end of the quarter. We expect supply disruption to sustain in the coming months till the time the nation recovers from the pandemic situation. Thus, H1FY2021 would see HUL's sales significantly...