Sensex Ends Marginally Higher; Realty And Telecom Stocks Witness Buying

Earnings before interest, tax, depreciation, and amortization (EBITDA) came in at Rs 28.7 billion, up 17% YoY.

In a press release, the company said that the economic outlook has improved given the various initiatives taken by the government and RBI. Rural markets have been resilient but the demand in urban India has been muted.

The company's board also declared an interim dividend of Rs 14 per share.

HUL share price ended the day down by 0.3%.

Moving on to news from the telecom sector, B2B telecom solutions provider Tata Communications today said that its CFO Pratibha Advani has resigned.

Kabir Ahmed Shakir has been appointed new Chief Financial Officer with effect from 21 October 2020.

Last week on Friday, the Tata Group company had posted an around seven-fold jump in consolidated net profit at Rs 3,848.1 million for the September quarter.

The company's consolidated revenue grew 4.5% to Rs 44,771.8 million during the reported quarter from Rs 42,823 million in the year-ago period.

The company concluded the sale of a land parcel along with the building for a total consideration of Rs 674.1 million.

Tata Communications also said that it has received a demand note from the Department of Telecommunications (DoT) to pay Rs 66.3 billion towards license fees on its adjusted gross revenue (AGR) for the financial years 2006-07 till 2017-18.

Tata Communications' share price ended the day up by 3.3%.

Speaking of Tata Communications, have a look at the chart below to see how the stock has performed over the past few years:

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Disclosure: Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research ...

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