With an aim to expedite grievance resolution, the National Consumer Helpline (NCH) has partnered with over 1,000 companies under its Convergence Programme to expedite grievance resolution.
As stocks of fast-moving consumer goods (FMCG) companies keep growing, the sector growth has slowed down due to less packaged food consumption among the Indians and slowdown in daily online grocery demand on various digital platforms
The company’s stock was trading around Rs 640 a piece (down 4.9 per cent) during the day trading.
The Sensex was down 676.51 points or 0.84% at 79,825.57 while the Nifty was down 234.50 points or 0.96% at 24,274.80 at noon.
Bank Nifty opened in green territory with an increase of 704 points or 1.35 per cent at 52 872.30 whereas the Nifty Midcap opened at 56149.90, an up of 295.20 or 0.53 per cent increase.
The company, in its draft papers, said that the (OFS) includes "1.53 crore compulsory convertible preference shares, which will be converted up to a maximum of 91.51 lakh shares prior to the filing of the red herring prospectus with the RoC, solely for the purpose of the offer".
Interestingly, it cited that operating margin had improved by 100 bps last fiscal despite lower revenue growth, due to reduction in advertising and promotional expenses.
Apart from O2 concentrators, HUL will also be providing ventilators and other medical equipment for hospitals, including in rural areas.
The company's consolidated total income stood at Rs 12,542 crore, as against Rs 12,235 crore in the year-ago period.
Through streamlining operations and achieving greater scalability to meet changing demands, Parle expects to witness business growth in India and beyond.
