Net profit of Hindustan Unilever (HUL) rose 13.84% to Rs 1538 crore on 8.95% rise in net sales to Rs 9809 crore in Q4 March 2019 over Q4 March 2018. The result was announced after market hours on Friday, 3 May 2019.
On a consolidated basis, net profit of L&T Technology Services rose 3.18% to Rs 191.50 crore on 1.99% rise in net sales to Rs 1343.10 crore in Q4 March 2019 over Q3 December 2018. The result was announced after market hours on Friday, 3 May 2019.
On a consolidated basis, net profit of Tata Chemicals declined 65.03% to Rs 408.71 crore on 8% rise in net sales to Rs 2759.39 crore in Q4 March 2019 over Q4 March 2018. The result was announced after market hours on Friday, 3 May 2019.
Yes Bank informed that Reserve Bank of India (RBI) vide its Speaking Order dated 22 April 2019 imposed a penalty of Rs 11.25 lakh under Section 30(1) of the Payment and Settlement Systems Act, 2007. RBI has identified certain violations of RBI Circular dated 5 October 2011 on Domestic Money Transfer - Relaxations and Master Direction dated 11 October 2017 on Issuance and Operation of Prepaid Payment Instruments (PPis) in connection with certain product features of an open loop prepaid card (co-branded) previously issued by the bank. The bank had launched this product as pilot program from 13 September 2017 and later discontinued this product with effect from 14 March 2018. The result was announced after market hours on Friday, 3 May 2019.
Further, Yes Bank announced that ratings agency ICRA has downgraded long-term ratings of the bank with a Negative outlook. Ratings were removed from 'Watch with Negative Implications'. The announcement was made on Saturday, 4 May 2019.
Cadila Healthcare informed that the US Food and Drug Administration (USFDA) inspected the company's formulations manufacturing facility located at Moraiya, Ahmedabad from 22nd April 2019 to 3rd May 2019. The inspection concluded with 14 observations. There were no repeat observations or Data Integrity (DI) related observations. The company said it is confident of addressing these observations and responding to the USFDA at the earliest. The announcement was made after market hours on Friday, 3 May 2019.
Bharti Airtel will be watched. With reference to news item captioned, "Airtel-Tata tele merger: TDSAT stays DoT call for Rs 9k crore guarantees," Bharti Airtel clarified after market hours on Friday, 3 May 2019, that it had duly intimated the exchanges about the transaction at the relevant junctures including upon the sanction of the subject schemes by National Company Law Tribunal, subject to the final approval of Department of Telecommunications (DoT). Further, the current order of TDSAT is subject to the final outcome and fulfilment of conditions, as is the case in all usual proceedings with reference to the final approval of DoT involving certain actions and compliances to be undertaken. Only after completion of the actions and submissions of the compliances, the final approval is issued. Moreover, such matters, being sub-judice, may be challenged before the appellate authority/courts and disclosing such pre-mature matters may affect the market prices inappropriately. The company said it will make requisite disclosure at an appropriate time (i.e. on receipt of final approval of DoT).
Indiabulls Housing Finance said its board approved amendments to scheme of amalgamation to effect the merger of Indiabulls Housing Finance (IBH or Transferor Company 1) alongwith its wholly owned subsidiary, Indiabulls Commercial Credit (ICCL or Transferor Company 2) into and with The Lakshmi Vilas Bank (LVB or Transferee Company) (Scheme) under Sections 230 to 232 of the Companies Act, 2013. The Scheme, amongst others, envisages amalgamation of the IBH and ICCL into and with the LVB, on ongoing basis and dissolution of IBH and ICCL without being wound up. Basis the existing issued capital of both IBH and LBV and the share exchange ratio, the shareholders of the IBH will hold approximately 90.5% of the post-merger enhanced equity capital of the merged entity and the shareholders of LVB will hold approximately 9.5% of the post-merger enhanced equity capital of the merged entity. The announcement was made after market hours on Friday, 3 May 2019.
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