HCL Tech in spotlight after Q4 numbers

HCL Technologies' net income fell 1.7% to Rs 2,568 crore on 1.9% increase in revenue to Rs 15,990 crore in Q4 March 2019 over Q3 December 2018. The result was announced after market hours yesterday, 9 May 2019.

Reliance Industries said that its subsidiary, Reliance Brands (RBL), and C Banner International Holdings, a Hong Kong-listed company, signed a definitive agreement for Reliance Brands to acquire 100% shares of Hamleys Global Holdings, the owner of the Hamleys brand, from C Banner International, for a cash consideration of GBP 67.96 million. The announcement was made after market hours yesterday, 9 May 2019.

Founded in 1760, Hamleys has over 250 years of celebrated history of being the oldest and largest toy shop in the world. Globally, Hamleys has 167 stores across 18 countries. In India, Reliance has the master franchise for Hamleys, and currently operates 88 stores across 29 cities. This acquisition will catapult Reliance Brands to be a dominant player in the global toy retail industry.

Welspun Corp said that its board will consider a share buyback proposal on 14 May 2019. The announcement was made after market hours yesterday, 9 May 2019.

Further, Welspun Corp announced that it has received additional pipe orders of 103 KMT, which will be serviced from India. Accordingly, the company's order book stands at 1,698 KMT valued at Rs 14900 crore after considering the above additions and the execution up to April 2019.

On a consolidated basis, Voltas' net profit fell 27.01% to Rs 141.74 crore on 1.50% increase in net sales to Rs 2,051.63 crore in Q4 March 2019 over Q4 March 2018. The result was announced after market hours yesterday, 9 May 2019.

Mahanagar Gas' net profit rose 27.40% to Rs 133.46 crore on 23.09% increase in net sales to Rs 722.54 crore in Q4 March 2019 over Q4 March 2018. The result was announced after market hours yesterday, 9 May 2019.

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