HUL in spotlight after announcing Q4 results

Hindustan Unilever's net profit rose 6.19% to Rs 1183 crore on 6.39% rise in total income to Rs 8969 crore in Q4 March 2017 over Q4 March 2016. The result was announced after market hours yesterday, 17 May 2017.

Hindustan Unilever recommended a final dividend of Rs 10 per share for the financial year ended March 2017.

Axis Bank announced that it has decided to keep the Marginal Cost of Funds based Lending Rate (MCLR) unchanged. This will be effective from 18 May 2017.

The bank's MCLR for overnight loans will be 7.9%, the rate for one month will be 7.9% and for three months it will be 8.05%. The MCLR on 6-month loans will be 8.15% and for one-year loans the rate will be 8.25%, the bank said. MCLR on two-year loans will be 8.3% and for three-year loans the rate will be 8.35%. The announcement was made after market hours yesterday, 17 May 2017.

Sicagen India's consolidated net profit jumped 120.43% to Rs 6.04 crore on 26.75% rise in total revenue to Rs 203.12 crore in Q4 March 2017 over Q4 March 2016. The result was announced after market hours yesterday, 17 May 2017.

Hindustan Copper's net profit spurted 6919% to Rs 40.71 crore on 58.4% growth in net sales to Rs 513.68 crore in Q4 March 2017 over Q4 March 2016. The result was announced after market hours yesterday, 17 May 2017.

JSW Steel's consolidated net profit jumped 235% to Rs 1009 crore on 53% rise in revenue from operations to Rs 17917 crore in Q4 March 2017 over Q4 March 2016. The result was announced after market hours yesterday, 17 May 2017.

The company in its guidance said that crude steel production is estimated to rise 4.4% to 16.5 million tonnes in year ending 31 March 2018 (FY 2018) over FY 2017. Saleable steel sales is estimated to rise 4.9% to 15.5 million tonnes in FY 2018 over FY 2017.

La Opala RG said that the operations at Madhupur plant have been temporarily suspended due to unreasonable charter of demands by the workers union. The management has taken a conscious decision, after taking into consideration a long term view, to temporarily suspend the operations at our Madhupur plant. In the circumstance, the production of and dispatches from the plant will be affected.

However, to a great extent, these would be made up by the Sitarganj unit, for which necessary steps have been initiated. The decision to suspend the work has been taken to improve the present working atmosphere prevailing at the plant. While the company remains committed to well established principles of good and cordial relationship with people, but will not compromise on issues of discipline and pressure tactics.

The company believes in fair treatment and as such, will keep the dialogue going with the union representative, so as to arrive at a mutual agreement at the earliest. The announcement was made after market hours yesterday, 17 May 2017.

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