HUL in focus after Q2 result

FMCG major Hindustan Unilever (HUL) on a consolidated basis reported 22.73% rise in net profit to Rs 1814 crore on a 5.2% increase in total income to Rs 10229 crore in Q2 September 2019 over Q2 September 2018. The result was announced after market hours yesterday, 14 October 2019.

ACC and Wipro will announce their quarterly results today, 15 October 2019.

The Board of Directors of Indiabulls Housing Finance considered the option of buyback of shares. Based on legal advice received on the subject of buyback, the board thought it prudent to first confirm with Sebi on the applicability of the debt-equity ratio of 6:1 as currently prescribed for subsidiary NBFC/ HFC in the Govt Gazette dated 19 September 2019 to be also applicable if the NBFC/HFC is not a subsidiary but the parent listed company itself as is the case with Indiabulls Housing Finance. The Board is inclined for a buyback of shares, the route being the buying of company shares through the exchanges and shall take final decision on this proposed Buyback upon receipt of confirmation from Sebi. The announcement was made after market hours yesterday, 14 October 2019.

Adani Transmission has signed Share Purchase Agreement with REC Transmission Projects Company on 14 October 2019 for acquisition of its entire stake in WRSS XXI (A) Transco (WRSSTL). WRSSTL Project consists of approximately 272 ckt kms of 765kV line and 3000 MVA transformation capacity. The announcement was made after market hours yesterday, 14 October 2019.

Yes Bank has sold 5.10 crore equity shares, constituting 6.77% of the paid-up share capital of Fortis Healthcare (FHL) as at 30 June 2019, in various tranches last being on 14 October 2019 resulting into a change in holding of the bank by more than 2% of the total shareholding of FHL, from the last disclosure made by the bank on 10 June 2019. The announcement was made after market hours yesterday, 14 October 2019.

Lakshmi Vilas Bank said that RBI has imposed a penalty of Rs 1 crore on the bank for non-adherence to guidelines on IRAC norms and divergence in respect of two NPA accounts aggregating to Rs 169.50 crore for the year ended 31 March 2017. The announcement was made after market hours yesterday, 14 October 2019.

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