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Business News/ Market / Stock-market-news/  Opening Bell 25 February | FMCG stocks in focus
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Opening Bell 25 February | FMCG stocks in focus

Asian markets are tracking gains in US shares; keep an eye on Hindustan Unilever

A file photo of the BSE building in Mumbai. Photo: Hemant Mishra/MintPremium
A file photo of the BSE building in Mumbai. Photo: Hemant Mishra/Mint

Mumbai: US markets closed higher as the S&P 500 gained 0.62% to 1,847 on optimism about merger activity and gains in shares of health insurance companies. Read the Reuters report.

Asian markets are tracking gains in US shares. Japan’s Nikkei at 14,996 is up 1.07%. Read more.

Keep an eye on Hindustan Unilever Ltd (HUL). The company lost market share at the lower end of the market as consumers turned more value conscious, reports Mint. Rival Procter and Gamble Home Products Ltd, and domestic peers like the manufacturer of Ghari detergents have gained share in the past year.

Jaiprakash Associates Ltd may continue to see heightened action. According to The Economic Times the company is in talks to sell two cement plants.

United Spirits Ltd slashed its capital expenditure plans and does not expect any significant improvement in profit margins for two years as it struggles with slowing sales, rising costs and alcohol taxes, reports Mint. The company expects to spend 500 crore over the next 18 months as capex.

Titan Company Ltd is set to cross the $3-billion (over 18,000-crore) revenue mark in the next 24 months, reports The Times of India. According to the report, the company is likely to end the current fiscal with a revenue growth close to 10%.

Prices of copra and coconut oil, used to manufacture hair oil and cosmetics, are rising on supply crunch in Kerala and Tamil Nadu, reports Business Standard. The price rise can impact hair oil manufacturers like Marico Ltd.

The corporate affairs ministry has found that the management of National Spot Exchange Ltd violated companies law and that the board of its parent Financial Technologies (India) Ltd may be liable for the breaches, reports Mint. The ministry has finalized its report and forwarded it to the law ministry.

GMR Group has offered private equity investors a small stake in GMR Infrastructure Ltd to compensate for delay in facilitating their exit in one of GMR’s units. Temasek Holdings Pte Ltd and a consortium of investors led by IDFC Alternatives have agreed to restructure their investments in GMR Energy Ltd.

Reliance Infrastructure Ltd has completed the Trichy-Karur road in Tamil Nadu built at a cost of 732 crore. The company has also begun toll collections.

Credit Analysis and Research Ltd has said that IDBI Bank Ltd and four other shareholders did not find suitable bids for selling their stakes in the company. Read more.

Also keep an eye on Punj Lloyd Ltd. A client in Thailand has terminated a contract given to the company. In a statement to the BSE the company has said it has initiated the legal process to protect its interests.

Finally, Nokia Oyj has launched its first ever Android phones X, the X+ and XL. The X and X+ are entry-level devices with 4-inch screens. The XL is larger with 5-inches screen. Read more.

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Published: 25 Feb 2014, 07:53 AM IST
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