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Realty shares may advance after GST rate cut
25-Feb-19   08:20 Hrs IST

Real estate shares will be watched. The Goods and Services Tax (GST) Council in its 33rd meeting held on 24 February 2019, recommended that GST shall be levied at effective GST rate of 5%, without input tax credit (ITC), on residential properties outside affordable segment. GST shall be levied at effective GST of 1%, without ITC, on affordable housing properties. The new rate shall become applicable from 1 April 2019, Ministry of Finance said in a statement.

Kotak Mahindra Bank will be watched. ING Group on Friday, 22 February 2019, sold its entire 3.06% stake in Kotak Mahindra Bank through two block deals on the National Stock Exchange. With ING Group's exit, Mark Newman, a non-executive non-independent director at Kotak Mahindra Bank, has resigned with immediate effect.

According to exchange data, ING Mauritius Investments sold 2.92 crore shares of Kotak Mahindra Bank at Rs 1,228.51 per share. It sold another 2.92 crore shares at Rs 1,225.14 each. Both the deals took place on NSE on Friday, 22 February 2019.

NTPC said that Unit 3 of 250 MW of Nabinagar Thermal Power Project (4 X 250 MW) of Bhartiya Rail Bijlee Company (BRBCL), a subsidiary of NTPC, has been declared on commercial operation from 20 February 2019. With this, the commercial capacity of BRBCL and NTPC group has become 750 MW and 51956 MW respectively. The announcement was made after market hours on Friday, 22 February 2019.

ZF Steering announced that a petition has been filed by Robert Bosch Automotive Steering GmbH, Germany, for winding up of Robert Bosch Automotive Steering. Robert Bosch Automotive Steering is the joint venture between the company and Robert Bosch Automotive Steering GmbH. The announcement was made after market hours on Friday, 22 February 2019.

Suzlon Energy clarified after market hours on Friday, 22 February 2019, it is exploring multiple options for debt reduction along with its lenders. The company does not comment on the market speculation, it added.

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