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HLL net up 35%, final dividend at Rs 9.50
Hindustan Lever Ltd (HLL), in its first comparable financial results after its merger with erstwhile Brooke Bond Lipton India Ltd (BBLIL), has posted a 35.3% rise in net profit to Rs 560.37 crore as against Rs 414.26 crore for the year ended December 1997. The board has recommended a final dividend of Rs 9.50 per share, thereby increasing the total dividend for the year to Rs 17 per share (170%) as against Rs 12.50 last year.
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MSEB to launch taxable bond issue soon
Maharashtra State Electricity Board (MSEB) will shortly launch a taxable bond issue of around Rs 100 crore while reconsidering the earlier option of external commercial borrowings. The funds will be invested in MSEB's 30% stake in Dabhol Power Company (DPC). The board will have the option of retaining oversubscription from the issue which is expected to rake in around Rs 200 crore. MSEB needs around Rs 730 crore for its equity portion in DPC. It had recently raised around Rs 275 crore from its Rs 150 crore tax-free bond issue.
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Hindustan Lever set to buy Lakme out wholly; merger with Pond's proposed
Hindustan Lever, through a devastating combination of a merger and an acquisition, is all set for overwhelming superiority in the personal products market. It has decided to merge into itself another Unilever subsidiary -- Ponds India Ltd -- and buy out Tata-owned Lakme's cosmetics business.
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IndusInd net profit jumps 31% to Rs 77 crore
IndusInd Bank has clocked 31% growth in its net profit during the first three quarters of the current financial year. The new generation private sector bank has posted a net profit of Rs 76.62 crore in April-December 1997 against Rs 58.52 crore recorded in the corresponding period last year.
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