Nuvoco Vistas Corporation, a cement unit of detergent maker of Nirma, has held separate discussions with the private equity firms for a potential offer for Emami Cement, said the people, who asked not to be identified.
Growth of eight core industries recovered to 1.3% in December 2019 after remaining in the negative zone in the previous four months helped by expansion in the production of coal, fertiliser and refinery products. The growth was, however, lower than 2.1% recorded in December 2018.
However, growth rate of steel and cement sectors slowed down to 1.9% and 5.5% respectively.
Affordable housing received a boost as the government extended the tax holiday for new projects by another year. This is likely to lead to more project launches in the segment.
The government has also extended the deadline for first time homebuyers’ to avail additional Rs 1.5 lakh interest deduction on home loans by a year till 31 March 2021. At present, home loan interest payment of up to Rs 2 lakh is allowed as deduction across segments, along with loan principal repayment up to Rs 1.5 lakh. The move is expected to boost demand from first-time homebuyers.
A National Logistics Policy, which will create a single window e-logistics market and focus on generation of employment, skills and making micro small and medium enterprises (MSMEs) competitive, will be announced soon, Finance Minister Nirmala Sitharaman said.