HUL Q1 earnings below street estimates, total income, volume disappoints
Hindustan Unilever Ltd (HUL) has announced the Unaudited
Standalone results for the quarter ended June 30, 2016 (YoY)
Net profit rose by 9.79% to Rs1173.90 crore VS Rs1069.16 crore
Total Income increased by 3.36% to Rs8235.77 crore Vs Rs7967.43
crore.
Volume Growth at 4%
EBITDA t Rs1, 636 crore
Management expects near term to remain muted
EBIDTA margins in line
ICICI Bank: ICICI Prudential files for IPO
ICICI
Prudential has filed for IPO and the issue size may be around Rs5000 crores.
ICICI Bank has around 68% stake in the insurer while that of Prudential is at
26%.
Listing
of the life insurance company will be positive and value unlocking for the
existing shareholders like ICICI Bank.
SPARC, Sun Pharma ink pact for epilepsy drug
Sun Pharma Advanced Research Company (SPARC) and its parent Sun
Pharma have entered into a licensing arrangement for its Elepsia tablets, used
in the treatment of epilepsy, in the US market for an up-front payment of $10
million.
According to the agreement, SPARC will license Elepsia XRTM
(Levetiracetam Extended Release tablets) to a wholly-owned subsidiary of Sun
Pharma for the US market. SPARC will receive an up-front payment of $10 million
from Sun Pharma.
Axis Bank surges as FII limit raised
Axis Bank rose nearly 2%, touchng to Rs574.7, after the Reserve
Bank of India ( RBI) on Friday, July 15, 2016, notified increase in foreign
investment ceiling in the bank
The Reserve Bank of India ( RBI) has notified that Foreign
Institutional Investors ( FIIs)/Registered Foreign Portfolios Investors (
RFPIs) can now invest up to 74% from existing 62% of the paid up capital of the
bank under the Portfolio Investment Scheme ( PIS).
Tata Motors to raise Rs3000 cr via NCDs
Auto major, Tata Motors said that it is planning to raise Rs3, 000
crore in the next 12 months through non-convertible debentures (NCDs) or rupee
denominated non-convertible foreign currency bonds on a private placement
basis.
The company will seek approval of shareholders to raise the sum at
its upcoming AGM to be held on August 9.
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