FMCG major Hindustan Unilever Ltd (HUL) on Monday said its board has approved the demerger of the ice cream business, which owns brands such as Kwality Wall's, Cornetto and Magnum, into an independent listed entity.
An increased brand fee paid by India-listed Vedanta, apart from record dividend, has helped Vedanta Resources (VRL) - the London-based holding company of Vedanta Group - to repay part of its debt. Vedanta paid a brand fee of Rs 2,632 crore ($325 million) for 2022-23 (FY23), according to Nomura report. This was after the Anil Agarwal-owned holding company raised the brand fee to 2 per cent of the turnover for its Indian businesses in 2021.
Anglo-Dutch FMCG giant Unilever Plc's $ 5.4 billion open offer to increase stake in its Indian arm Hindustan Unilever Limited (HUL) to up to 75 per cent commenced on Friday.
Analysts on average were expecting a profit of Rs 1,043 crore or Rs 10.43 billion, according to Thomson Reuters data.
HUL's board approved the royalty of 3.15 per cent of turnover effective from February 2013.
Net sales were 12.48 per cent at Rs 6,367.14 crore.
Lack of time was cited as the main reason for Bharti Chairman Sunil Mittal's exit from the Unilever board.
The Bombay Stock Exchange's 30-share Sensex closed at 19,504 up 117 points. The National Stock Exchange's 50-share S&P CNX Nifty closed up 26 points at 5,930.
There will be more incentive for the parent company to share technology with the Indian unit.
The company's board has approved a proposal to increase the royalty payment to 3.15 per cent to its parent firm Unilever Plc.
The reshaping programme has been announced to combine and streamline group's three global research and development operations into one Unilever R&D organisation to improve efficiency, a company statement said.
Hind Lever Chemicals is considering merging with Tata Chemicals Ltd, the Bombay Stock Exchange said on Wednesday.
Hindustan Unilever Ltd, the Indian unit of Anglo-Dutch consumer group Unilever Plc, reported an 18 per cent rise in quarterly profit, beating estimates, helped by a revival in consumer spending.
Consumer goods major Hindustan Unilever on Monday posted a 21.91 per cent increase in net profit to Rs 1,062.31 crore in the quarter ended December 31 on robust sales across businesses.
IT major nears $100 bn m-cap, accounts for 61% of the group's combined valuation.
FMCG major Hindustan Unilever on Friday reported 23.43 per cent decline in net profit at Rs 1,019.25 crore (Rs 10.19 billion) for the first quarter ended June 30, 2013.
Anglo-Dutch parent's stake in Indian subsidiary rises from 52.5% to 67.3%.
Move could be aimed at integrating operations with Indian subsidiary.
If you are not happy with the price offered at buybacks, you could be in for a long haul.
India was the flavour of the year, at least in the FMCG sector, as multinationals hiked stakes in their subsidiaries lured by long term potential of the country, while homegrown executives made their way to top hierarchy of global firms in 2013.
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