Unilever PLC - India, China lift overall outlook: Edelweiss Research PDF link

Unilever PLC’s Q2CY12 revenue at ~EUR13.3bn was 1% above consensus estimates due to higher contribution from emerging markets (India being a key pillar) which also helped them maintain their guidance (both P&G and Danone have cut their full-year profit forecasts). Underlying sales rose (USG) 5.8% YoY (vs 8.4% in Q1CY12), beating the forecast of 4.8%. Personal care and Home care continued the robust performance, USG growing 10.4% and 9.6% YoY respectively. However, foods failed to deliver growth (up 0.6% YoY). European markets disappointed with a decline of 2.2% YoY in revenues even as a strong growth in developing markets, especially China and India (gained market share in laundry business in both geographies) led to a 10.7% YoY rise in revenues in the Asia/Africa region. Launch of Expert Protection range simultaneously in France (under Signal brand) and India (under Pepsodent brand) further signals their priority on India and the oral care category. P&G’s softening aggression in emerging countries like India is a positive for Hindustan Unilever. However, worsening economic conditions in developed economies and high input costs remain a key concern.

July 30: Morning News (click on link to read article): IFCI Financial Services Limited

Morning News (click on link to read article)

Economic Times		Business Standard
Ø  New UK strategy as triple-dip recession predicted Ø  DLF to sell its land in Mumbai to Lodha Group Ø  Germany, Italy vow to protect eurozone Ø  Vietnam seeks $100 mn from India for Tata project Ø  Mah Satyam in pact with Aberdeen to settle charges Ø  Steel prices likely to rise 7.2% this year: CMIE		Ø  IndianOil to set up refinery in Sri Lanka for Rs 20,000 cr Ø  Airtel, Vodafone hastily given extra spectrum: CBI Ø  HDFC consolidated net up 25% Ø  RIL making polyster fibre as short cut for asbestos Ø  ICICI Bank net up 36% Ø  Japanese township to come up near proposed Maruti factory
Business Line		Mint
Ø  Coal India’s new compensation deal saves SECL’s Gevra project Ø  Cairn to pump in $600 m in Rajasthan over 2 years Ø  Ashok Leyland to ink 3 overseas joint ventures soon Ø  Universal Const in talks with Tata Group to set up manufacturing unit Ø  Suzlon redeems foreign currency bonds worth $360 m Ø  Biocon to focus on regional allies for product commercialisation		Ø  Debt-laden RCom’s funding hopes tied to Chinese banks Ø  Wal-Mart, others seek US govt help on India plans Ø  IRB Infrastructure: results better, sentiments still muted Ø  Dr Reddy’s says US FDA lifts ban on Mexico plant Ø  Iran sanctions bite MRPL crude imports Ø  Six Cement Corp plants up for sale Ø  Maruti Q1 net profit falls 23%
Financial Express		Financial Chronicle
Ø  Exchanges put checks to control algo flooding Ø  FIIs pump Rs 8,400 cr in stocks Ø  Sebi fears brokers used as front Ø  K'taka hikes VAT 0.5%, goods cost more Ø  Godrej Properties Q1 net up 71%		Ø  RBI policy, corporate results likely to keep stocks volatile Ø  Maruti lockout may hit contract workers of its suppliers Ø  Petronet in talks to set up Rs 3,000 cr power plant at Kochi Ø  Sesa Goa to produce 10 MT iron ore from Liberia in phase-I Ø  Lupin looks to acquire brands in the US; eyes 20% growth

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IFIN: IFCI Financial Services Limited