Unilever's open offer for HUL to begin on June 21
HSBC Securities and Capital Markets (India) Pvt Ltd ("Manager to the Open Offer") on behalf of the Unilever PLC ("Acquirer”) along with Unilever N.V. in its capacity as person acting in concert (the PAC”) has informed this Detailed Public Statement ("DPS") the public shareholders of the Hindustan Unilever Ltd ("Target Company"), in compliance with Regulation 6 read with Regulations 13(4), 14 and 15(2) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (SEBI (SAST) Regulations, 2011"), pursuant to the Public Announcement (‘PA’) filed on April 30, 2013 with the BSE Limited ("BSE”), the National Stock Exchange of India Limited ("NSE"), the Securities and Exchange Board of India ("SEBI") and the Target Company in terms of Regulation 6 of the SEBI (SAST) Regulations, 2011.
This Open Offer is for the acquisition of 487,004,772 Shares representing 22.52% of the Voting Share Capital of the Target Company. The price being offered under this Open Offer is Rs600 per Share (the "Open Offer Price'), in accordance with Regulation 8 of the SEBI (SAST) Regulations, 2011.
The Open Offer Price will be payable in cash by the Acquirer, in accordance with the provisions of Regulation 9(1)(a) of the SEBI (SAST) Regulations, 2011.
The open offer would begin on June 21 and close on July 4, HUL said.
Last week, HUL's board had constituted a committee of independent directors to provide recommendation to the shareholders about the open offer.
MNCs coming but retail investors going?
Unilever plc’s announcement to increase stake in its Indian subsidiary to 75% implies that the wheel has turned a cycle and we are back to the starting point. In the 70s, under the government pressure, most MNCs, who wanted to continue operations in India, had to offer shares to public and get listed. Some MNCs, notable ones being Coca Cola and IBM exited and came back only in the 90s after liberalization. Looking back, the managements of MNCs who decided to stay back must be lauded for their vision as they saw what none saw at that time – India’s huge consumption potential.
According to many old time brokers, the MNC listing is what started the retail equity cult though some attribute it to Maker 4. Castrol, HLL, Brooke Bond, Ponds, Nestle and Glaxo are among those which made retail investors gain lakhs of rupees. Even now, I meet a certain class of investors, typically Gujjus staying in South Mumbai, who only invest in MNCs. Read more...
Buy Emami with target of Rs 770/sh: IIFL Inst Eq
This a 16% upside from its current market price of Rs 665 per share. It feels the company is well positioned to increase sales by around 16-18% in the next couple of years.
Brokerage summary follows...
Emami reported 13.2% sales growth, which was 5% below our estimates, due to decline in exports; however, net profit was higher than our estimate by 6.5% owing to lower-than estimated ad spend. On the concall, the management indicated that gross margin expansion would be 250-300 bps and factoring for higher ad spend Ebitda could see a c150 bps expansion. We believe Emami is well positioned to increase sales at c16-18% for several years and maintain the highest volume growth in our coverage universe. We increase target multiple from 23x to 26x and our price target from Rs680 to Rs770. Maintain BUY.
Strong domestic sales growth: Domestic sales grew 17.4% in 4Q, boosted by 41% growth in the OTC portfolio. Gross margin expanded 268 bps due to lower menthol prices. Ad spends, though higher by 167 bps YoY, were lower than our estimate, resulting in Ebitda and net profit higher than our estimate. Domestic volumes grew 13%, the highest in our coverage universe. The international business was slow due to pipeline inventory correction and counterfeiting issues. Read more...
Colgate-Palmolive releases 2012 sustainability report
Colgate-Palmolive released its 2012 Sustainability Report titled, Giving the World Reasons to Smile. This annual report details Colgate’s long-standing commitments, achievements and challenges to sustainability and social responsibility around the world.
As part of its “People, Performance and Planet” strategy, Colgate has placed global focus on the following categories:
Promoting Healthier Lives
Contributing to the Communities Where We Live and Work
Delivering Products that Delight Consumers and Respect our Planet
Making Every Drop of Water Count
Reducing Our Impact on Climate and the Environment
Additionally, the 2012 sustainability report details Colgate’s progress on the specific goals stemming from the Company’s “2011 to 2015 Sustainability Strategy.” Read more...
Esprit Timewear unveils solar-powered watches
With the hot new season almost here, it's time to prep up not only your wardrobe but also adorn the latest summer accessories as well. Trap the heat in your wrist, with Esprit Timewear’s Solar Watches. If you are craving for a style icon along with an eco friendly mechanism, Esprit has the perfect Time Keeper for you this hot summer.
For the first time in the fashion Timewear segment, has such a technology been adopted and infused with latest design trends. These mini power pact gadgets embellish simple lines and cool colours (Black / Violet) for a no nonsense approach to style.
A premier for Esprit Timewear - Solara and Solaro; once completely charged, functions without sunlight for at least five months. Its time to let your ‘wrist’ speak louder than your words. Whether it is pastel, strips, neon or military attire, Esprit Solaro and Solara will complete the ‘look’ for any occasion. Read more...
CavinKare launches Raaga skin, hair care products
FMCG conglomerate, CavinKare launched the Raaga Professional Range of Skin and Hair care products in Mumbai, Maharashtra at an event in which salon professionals across the state took part in. CavinKare is a brand that focuses on traditional and natural benefits in all the products it offers and Raaga Professional is no different.
Raaga Professional, the professional hair care and skincare range of products was firstly launched in Chennai and Delhi markets in 2010 after years of dedicated research by scientists on consumer needs. These products have been a great success not only among the hairdressers and beauticians but also face a huge demand from the consumers.
The salon range has the goodness of nature and innovation in technology to provide exceptional experience to the consumers in salons. Raaga Professional products are available across Chennai, Delhi, Ludhiana, Hyderabad, Bangalore, Jaipur and are currently stepping into Mumbai, Maharashtra. Read more...
Sennheiser Electronics unveils gaming headsets
Sennheiser Electronics India Private Ltd brings great news for gamers who want to enjoy high-end gaming sound experience. Gaming time is your time, and every Sennheiser Gaming headset comes with a built-in mission of delivering pure emotion and excitement, and giving you the full experience your games deserve. This summer Sennheiser brings to you a whole range of gaming headsets suited for every gamer.
Sennheiser brings back the legends- PC 350 and PC 360 in a new avatar- the Sennheiser PC 350 Special Edition and the PC 363D Surround Sound Gaming Headsets. Sennheiser also launches their first multi-platform headset- the U 320, that is set to conquer all gaming platforms across India. The new PC 310 has also been launched for gamers who want to discover legendary Sennheiser gaming sound for the first time.
Bringing back the legends
The PC 350 and PC 360 two sought after legends have been reengineered to feature optimized comfort and design. The new Sennheiser PC 350 Special Edition and the PC 363D Surround Sound Gaming Headsets are made to cater to the most demanding needs of the quality-conscious gamers, who seek nothing but the best experience. Read more...
Fisher & Paykel launches 60 cm integrated fridge
In present day and age where everybody wants a seamless and clean kitchen for easy maintenance, Fisher & Paykel, global kitchen appliance innovators have launched yet another high quality and efficient product. With the launch of the 60cm Integrated Fridge, Fisher & Paykel have added yet another feather to their built in range cap in India.
“Fisher & Paykel has been a pioneer in the evolution of the kitchen and has brought about an 'intelligent kitchen' revolution for high-end residences and consumers. As a leading brand, we have a deep understanding of the unique consumer requirements for space utilization and design, as well as functionality that the individual desires.” Says Sanjeev Wadhwa, Country Manager, India.
The Integrated Fridge is designed to integrate seamlessly behind cabinetry, freeing up your kitchen design possibilities and allowing you to create a kitchen that suits your lifestyle. It is the perfect balance of convenience and efficiency. It is made to Measure for people who want to maintain the looks and symmetry of their kitchen where Fisher & Paykel give them the option to put their fridge within their existing cabinetry.