Unichem Laboratories net profit at Rs9.9cr
Unichem Laboratories posted an increase in net profit by 350% at Rs9.9cr in the quarter ended March 2019 as against Rs2.2cr during the corresponding quarter ended March 2018.
The revenue from operations rose 36% to Rs227.1cr in the quarter ended March 2019 as against Rs203.4cr during the corresponding quarter ended March 2018.
The Board recommends a final dividend of ~Rs4 per share (200%) (Face value of ~2/per share) for the year ended March 31, 2019. The final dividend declared in the previous year and paid during the current year was ~Rs5 per share (250%).
NCLT approves Heinz India-Zydus Nutritions merger; Zydus Wellness up ~2%
Shares of Zydus Wellness rose ~2% in the late morning trade after NCLT approved a scheme of amalgamation between Heinz India and Zydus Nutritions.
The National Company Law Tribunal, Bench at Ahmedabad has passed an order dated May 10, 2019, approving the Scheme of Amalgamation (Scheme) between two subsidiaries, Heinz India Private Limited (Heinz) with Zydus Nutritions Limited (ZNL), the company said in the filing.
Upon amalgamation, Heinz has ceased to be in existence and also to be the subsidiary of the company.
Sun TV declines 6% post Q4FY19 numbers
Shares of Sun TV declined 6% on Friday after the company PAT for the final quarter of FY19 registered a drop of 2.30% yoy at Rs283.07cr.
The company revenues for Q4FY19 was up by 24% at Rs888.88cr as against Rs716.95cr for the corresponding quarter ended March 31, 2018. The subscription revenues for the quarter was up by 4% at Rs319.77cr, as against Rs308.84cr for the corresponding quarter ended March 31, 2018.
EBITDA for the quarter ended March 31, 2019 was up 16% at Rs608.40cr as against Rs522.40cr for the corresponding quarter previous year. Total expenses stood at Rs522.52cr as against Rs314.47cr, up 66.15%.
Cipla to acquire 26% stake in AMP Solar Power Systems
Cipla, in its filing to the exchanges, informed that the company has signed an agreement to acquire 26% stake on a fully diluted basis in AMPSolar Power Systems Private limited.
The cost of acquisition is Rs12.9cr and post-acquisition AMPSolar will become an associate of Cipla Limited.
"Subscription of equity shares and compulsorily convertible debentures in one or more tranches upto the actual commercial operation date which is tentatively 30th May 2020," the company said in a press note released after markets hours on Thursday.
PSU Banks extend rally led by Bank of India, Union Bank, Bank of Baroda
The Nifty PSU Bank index surged in the afternoon session and is among top gainers on the NSE index. All the components were trading in the positive zone. The index is up 4.6% at 3,296.45 levels on heavy buying in Bank of India, Union Bank, Bank of Baroda, and Canara Bank.
Bank of India zoomed 7%, followed by Syndicate Bank, Punjab National Bank, Oriental Bank, and SBI were up 3-4% in today day.
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