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Realty stocks in focus after government measures

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Realty stocks will be in focus after Finance Minister Nirmala Sitharaman on Saturday, 14 September 2019 announced a fresh set of relief measures to boost exports and housing sector. The first one is a new export promotion scheme for the remission of duties or taxes on export products. This scheme will completely replace Merchandise Exports from India Scheme (MEIS) and Rebate of State Levies (ROSL).

Bharat Electronics has signed the contract with Ministry of Defence, Government of India on 13 September 2019 for procurement of Seven Squadrons of Akash Missile System for Indian Air Force. The total value of the contract is Rs 5357 crore and the delivery will be completed in three years. The announcement was made after market hours on Friday, 13 September 2019.

Shares of Indiabulls Housing Finance will be in focus. The Delhi High Court in a civil suit filed by Indiabulls Housing Finance passed an order restraining/ injuncting Subramanian Swamy, Member of Rajya Sabha, and others from publishing, disseminating/ uploading in any manner on their website, messenger application, social media including Facebook, Twitter and WhatsApp or any other platform operated and controlled by them, in respect of the allegation against Indiabulls Housing Finance which are false, offending, defamatory as tweeted by Swamy and mentioned in the suit. The Court has also directed Twitter, Facebook, WhatsApp etc. to remove / take down and/or expunge the offending false messages from their portals within two weeks. The announcement was made after market hours on Friday, 13 September 2019.

HUDCO said that the company has received an amount of Rs 253.83 crore (Principal Outstanding Rs 81.87 crore) in full and final settlement of its dues on 13 September 2019. The announcement was made after market hours on Friday, 13 September 2019.

SML Isuzu decided to observe Block Closure (Chassis Division) for 6 days from 16 September 2019 to 21 September 2019 at its manufacturing plant (located at Village Asron, Distt. Nawanshahr). In the Bus Body Division, need based production will continue. The announcement was made after market hours on Friday, 13 September 2019.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, September 16 2019. 08:42 IST
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