Adani Wilmar shares jump over 6% as Adani Enterprises to demerge food FMCG biz
Shares of FMCG firm Adani Wilmar jumped 6.4% to Rs 370.7 in Friday’s intraday trade on BSE after billionaire Gautam Adani’s flagship entity Adani Enterprises on Thursday approved the demerger of the company’s food FMCG business to Adani Wilmar. “It is believed that the proposed demerger will unlock the direct value of the demerged companyβs…
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HUL: HUL needs rural spark, lower input costs to drive volume push
Mumbai: Announcing its June quarter results after the close of the market session on the budget day, FMCG bellwether HUL posted a subdued performance, with a 1.6% increase in revenue and a 2.7% increase in net profit. The operating profit margin stood at 23.8% – 20 basis points higher than the year-ago level. One basis…
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