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Canara Bank | DHFL | Bank of Baroda | Federal Bank | L&T Tech and HUL are stocks, which are in news today.

Results today: Bharti Airtel, ICICI Bank, Marico, Wockhardt, Chennai Petroleum, Gujarat Gas, Navin Fluorine, Mahindra CIE Automotive, Hindustan Composites, GTL, Godrej Agrovet, Great Eastern Shipping, Firstsource Solutions, Fortis Malar Hospitals


HUL Q4: Net profit up 13.8% at Rs 1,538 crore versus Rs 1,351 crore, revenue up 9.3% at Rs 9,945 crore versus Rs 9,097 crore, YoY.

L&T Tech Q4: Net profit up 3.2% at Rs 191.5 crore versus Rs 185.6 crore, rupee revenue up 2% at Rs 1,343.1 crore versus Rs 1,316.9 crore, QoQ.

LIC Housing Q4: Net profit up 16.7% at Rs 693.6 crore versus Rs 594.3 crore; revenue up 20.1% at Rs 4,655.1 crore versus Rs 3,877.6 crore, YoY

Birla Corp Q4: Net profit down 2.2% at Rs 128.2 crore versus Rs 131.1 crore, revenue up 13.4% at Rs 1,872.3 crore versus Rs 1,650.8 crore, YoY.

Federal Bank Q4: Net profit at Rs 381.5 crore versus Rs 145 crore; NII up 17.5% at Rs 1,096.5 crore versus Rs 933.3 crore, YoY.

Sheela Foam Q4: Net profit up 17.8% at Rs 37.9 crore versus Rs 32.2 crore; revenue up at Rs 534.7 crore versus Rs 527.9 crore, YoY

AB Capital Q4: Net profit up 52.5% at Rs 258.4 crore against Rs 169.5 crore; revenue up 32.2% at Rs 4,730 crore versus Rs 3,577.6 crore, YoY.

NIIT Tech Q4: Net profit up 5.2% at Rs 105.5 crore against Rs 100.2 crore; revenue at Rs 972.2 crore versus Rs 971.7 crore, QoQ.

Morepen Laboratories Q4: Net profit at Rs 9.2 crore versus Rs 4.1 crore, revenue up 30.2% at Rs 206.1 crore versus Rs 158.2 crore, YoY

Vodafone Idea signs multi-million dollar IT deal with IBM

USFDA issues 14 observations for Cadila Healthcare's Moraiya facility

HIL has commenced the final phase production of its CpVC, uPVC, and SWR (Soil, Waste & Rain) Pipes and Fittings at its plant located at Golan Plant, Gujarat

PNC Infra to sale entire stake (15.12%) in Ghaziabad Aligarh Expressway to Cube Highways and Infrastructure PTE

Embassy Office Parks REIT announces the successful placement of Embassy REIT Series I Non-Convertible Debentures 2019

Bharat Road Network has entered into a share purchase agreement with Cube Highways and Infrastructure Pte for sale of its holding in Ghaziabad Aligarh Expressway

RBI imposes Rs 11.25 lakh penalty on Yes Bank

TTK Prestige fixed May 16 as the record date for issue of bonus shares

Aditya Birla Capital approved raising of funds worth Rs 3500 crore

EID Parry board meeting on May 8 to consider the proposal to raise Rs 300 crore by issue of Non-Convertible Debentures on private placement basis in one and more tranches

Indian Overseas Bank board meeting on May 09 to consider and approve the proposal for raising capital for the year 2019-20 and other incidental matters

DHFL board approves raising a capital worth Rs 2,000 crore in one or more tranches

Vodafone Idea's Capital Raising Committee approved allotment of 19,999,830,911 rights equity shares of Rs 10 each for cash at a price of Rs 12.50 per rights equity share

Torrent Pharma has issued Commercial Paper for an amount of Rs 200 crore on May 3, 2019

Indiabulls Housing Finance approved the merger of IHFL along with its wholly owned subsidiary, Indiabulls Commercial Credit into and with the Lakshmi Vilas Bank

Bank of Baroda hikes marginal cost of lending rate by 5 bps across tenors.

Shriram City Union allotted NCD worth of Rs 666.92 crore

Canara Bank: ICRA downgrades Additional Tier-I bonds to AA- from AA; outlook stable.

CRISIL has assigned the long term rating for Bank Loan facilities of Rs 750 crore as CRISIL AA- Stable and assigned short term rating as CRISIL A1+ to Deepak Nitrite

India Ratings and Research (Ind-RA) has assigned Vadilal Enterprises Limited Long-term issuer rating at 'IND A-'. The outlook is Positive.

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Jefferies maintained its hold rating on Hindustan Unilever post-March quarter results but raised its target price to Rs 1,820 from Rs 1,770 earlier

Global brokerages are mixed on Hindustan Unilever (HUL) post Q4 results. The FMCG major registered 14 percent jump in its March quarter net profit at Rs 1,538 crore against Rs 1,351 crore in the same quarter last fiscal.


Revenue of the company increased 9 percent to Rs 9,945 crore against Rs 9,097 crore. The company's domestic consumer business growth stood at 9 percent while underlying volume growth was at 7 percent.

Reacting to the results, Jefferies raised target price while CLSA slashed its respective target price.

HUL has maintained growth leadership over the last six quarters (10 percent volume growth) led by strong product portfolio and remarkable execution, but margins will remain modest from here-on, suggest experts.

CLSA maintained its outperform rating on Hindustan Unilever but slashed its 12-month target price to Rs 1,950 from Rs 2,010 earlier.

The volume growth of 7 percent looks good in the context of peer performance. There is a marked shift in the near-term outlook as growth rates have moderated.

From current levels, margin gains will be relatively modest, said the CLSA note. The global investment bank tweaked EPS to factor in the higher tax rate. “We have yet to build in upgrade from GSK acquisition,” said the note.

Jefferies maintained its hold rating on Hindustan Unilever but raised its target price to Rs 1,820 from Rs 1,770 earlier.

The Q4 results were better than peers but not good enough. A 7 percent growth in volume was on a high base which was a positive surprise, it said.

Valuation remains rich at 45x FY21 P/E. Jefferies slashed its estimates in the base business by 3 percent.

Disclaimer: The above report is compiled from information available on public platforms. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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Gold prices held steady on Wednesday as the reaction to North Korea's latest missile test was muted, while palladium hovered near the 17-year peak touched in the previous session. 

FUNDAMENTALS

  • Spot gold was little changed at $1,294.12 an ounce at 0113 GMT. 
  • US gold futures were down 0.1 percent at $1,293.60. 
  • Palladium dipped 0.2 percent at $1,024.99 an ounce, after hitting its highest since February 2001 at $1,028.70 in the previous session. 
  • North Korea fired what appeared to be an intercontinental ballistic missile (ICBM) that landed close to Japan, officials said, with some scientists cautioning that Washington, D.C. could now theoretically be within the range of Pyongyang's weapons. 
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