Market Commentary - Stock Alert
HUL, Avenue Supermarts, Gland Pharma in focus As on : 15-Feb-24  08:58

Hindustan Unilever (HUL): The Andhra Pradesh Government and HUL are looking to collaborate on palm oil production in the state. HUL seeks to partner with more than 15,000 farmers in Andhra Pradesh to create at least 30,000 hectares of oil palm plantations.

Avenue Supermarts: Avenue Supermarts has invested an amount of Rs. 100 crore by subscribing to 28,969,000 equity shares of Rs. 10 each of Avenue ECommerce Limited (AEL), a subsidiary of the company at an issue price of Rs. 34.52 per share on preferential basis.

Gland Pharma: The company reported 17% fall in consolidated net profit to Rs 191.9 crore in Q3 FY24 from net profit of Rs 231.9 crore recorded in Q3 FY23. Revenue from operations rose 65% to Rs 1545.2 crore in the third quarter of FY24 from Rs 938.3 crore posted in Q3 FY23.

Utkarsh Small Finance Bank (USFBL): USFBL has received a communication from its holding company Utkarsh CoreInvest (UCL) stating that a resolution has been passed by the board of directors of UCL, whereby UCL has proposed to initiate steps in furtherance of a proposed reverse merger of UCL with the bank. The board of directors of the bank will meet in due course and evaluate the proposal and other options to achieve regulatory compliance.

West Coast Paper Mills: West Coast Opticals (WCO), a division of the company announced doubling its manufacturing capacity for optical fiber cable by setting up a new manufacturing unit at Fab City, Hyderabad, Telangana.

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