HUL falls for second day on royalty payment concerns
MUMBAI (Reuters) - Shares in Hindustan Unilever(HLL.NS) fell more than 2.5 percent on Thursday, down for the second day, on concerns that it may face higher royalty payments to its parent Unilever PLC (ULVR.L).
Concerns came after Unilever Indonesia (UNVR.JK) agreed on Wednesday to pay a higher royalty payment to the parent company.
On Wednesday, in response to a Reuters query, the company spokesperson said, "As a policy we do not comment on market speculation." (Reporting by Abhishek Vishnoi; Editing by Gopakumar Warrier)
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India approved on Saturday the purchase of 814 mounted gun systems for the army at a cost of 157.5 billion rupees ($2.55 billion), a defence ministry spokesman said. Full Article