Realty stocks will be in focus after the Union Cabinet chaired by Prime Minister Narendra Modi yesterday approved the establishment of a 'Special Window' fund to provide priority debt financing for the completion of stalled housing projects that are in the Affordable and Middle-Income Housing sector. For the purposes of the fund, the government shall act as the Sponsor and the total commitment to be infused by the Government would be upto Rs 10,000 crore.
BPCL, HPCL, Power Grid Corporation of India and Sun Pharmaceuticals Industries will declare their quarterly results today, 7 November 2019.
Tata Steel reported 5.96% rise in consolidated profit after tax to Rs 3,302 crore on 15.44% fall in turnover to Rs 34,579 crore in Q2 September 2019 over Q2 September 2018.
Hindustan Unilever said that the National Company Law Tribunal, Mumbai Bench, has sanctioned the Scheme of Amalgamation by way of merger by absorption among GlaxoSmithKline Consumer Healthcare ('Transferor Company') and Hindustan Unilever (the 'Company') and their respective Shareholders and Creditors (the 'Scheme').
JB Chemicals & Pharmaceuticals said that the board of directors of the company at its meeting to be held on 12 November 2019 will also consider the proposal for buy-back of equity shares.
Manappuram Finance approved the establishment of a medium term note programme to raise up to $750 million or lesser, in one or more tranches.
Larsen and Toubro has appointed MSTC as the selling agent as per the terms of selling agency agreement entered by both the parties on 29 October 2019 for the sale of scrap and rejected/condemned/obsolete secondary arising (ferrous and non-ferrous) as well as surplus obsolete stores, equipments and misc. articles etc. for buildings and factories IC of L&T in India through MSTC's e-Auction website.
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