HDFC Bank will be watched as board to mull stock split

HDFC Bank said that its board will consider stock split on 22 May 2019. The board will mull a proposal to split one equity share of face value of Rs 2 each into two equity shares of face value of Re 1 each. The announcement was made after market hours yesterday, 6 May 2019.

On a consolidated basis, Bharti Airtel's net profit rose 29.31% to Rs 107.20 crore on 6.23% increase in net sales to Rs 20,602.20 crore in Q4 March 2019 over Q4 March 2018. The result was announced after market hours yesterday, 6 May 2019.

ICICI Bank's net profit fell 4.99% to Rs 969.06 crore on 4.87% increase in total income to Rs 20,913.82 crore in Q4 March 2019 over Q4 March 2018. The result was announced after market hours yesterday, 6 May 2019.

On a consolidated basis, Marico's net profit rose 121.31% to Rs 405 crore on 8.72% increase in net sales to Rs 1,609 crore in Q4 March 2019 over Q4 March 2018. The result was announced after market hours yesterday, 6 May 2019.

Astec Lifesciences said that its board reviewed the proposed amalgamation of the company with Godrej Agrovet. The board has decided not to pursue the scheme of amalgamation further at this time, on the basis of its interaction with multiple stakeholders across the company and Godrej Agrovet. The announcement was made after market hours yesterday, 6 May 2019.

Lemon Tree Hotels announced opening a hotel under brand name 'Red Fox Hotel' at Alwar, Rajasthan. This is the company's second managed hotel in the region. The hotel has 49 rooms with a conference facility, multi cuisine coffee shop, bar, fitness center etc. With this, the firm operates 56 hotels, including managed properties across 33 cities in India. The announcement was made after market hours yesterday, 6 May 2019.

PNC Infratech announced execution of a share purchase agreement (SPA) for sale of 35% stake held by the company along with its wholly owned subsidiary - PNC Infra Holdings - in Ghaziabad Aligarh Expressway, the concessionaire (SPV) for 'four laning of Ghaziabad-Aligarh Section of NH-91 BOT (toll) project in Uttar Pradesh along with the other partners of SPV, with Cube Highways and Infrastructure on 4 May 2019. Total enterprise value (EV) of the sale is Rs 1834 crore subject to adjustments of debt and other capital and operational costs at the closing date. The company's share of 35% equity translates to sale consideration of Rs 270 crore. In addition to this the company would be able to recover its outstanding EPC receivables from SPV along with certain closing adjustments, which would likely to result into total cash inflow of over Rs 300 crore for the company. The cash flows that would be released upon the proposed disinvestment are expected augment financial resources of the company for funding its present and future projects. The proposed divestment would also reduce the company's overall debt by Rs 1070 crore as of 31 December 2018. The announcement was made after market hours yesterday, 6 May 2019.

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