Key Results: ABB, Adani Power, Concor, Godrej Consumer, Gujarat Gas, Munjal Showa

Close to 100 companies will declare their quarterly/half-yearly results for the period ended September 2020. Among these are, 21st Century Management, ABB, Adani Power, Adani Transmission, Aditya BIrla Capital, Ador Weilding, Akash Infra, Apar Industries, AstraZeneca Pharma, Bajaj Electricals, Birla Soft, Caplin Point Lab, Cignity Technologies, Container Corporation, Chambal Fertilizers, Dalmia Bharat, Dish TV, Elgi Rubber, eClerx Services, Emami, Esab India, Gayatri Projects, Godrej Consumer Products, Greaves Cotton, Godawari Power & Ispat, GPT Infraprojects, Gujarat Gas, Inox Leisure, ICRA, Kirloskar Brothers, Kothari Sugars, Krebs Biochem, Jamna Auto, Jindal Saw, Minda Corporation, Munjal Showa, Muthoot Capital, Matrimony.com, Man Infraconstruction, RattanIndia Infrastructure, Somany Ceramics, Torrent Power, Tata Teleservices, Vascon Engineers and Welspun Investments.

PVR, Inox Leisure in focus on theatres reopening

Shares of Inox Leisure and PVR will remain in focus, as more States allow reopening of theatres. Inox Leisure has started reopening its theatres in Punjab, Tamil Nadu and Maharashtra, the company informed the exchanges today.

The announcement came hours after the Maharashtra government gave its go-ahead to cinemas, theatres, and multiplexes to resume operations from Thursday with up to 50 per cent of seating capacity. However, containment zones shall remain under lockdown.

The company said it will continue to reopen its units in other states as and when notifications are issued by the respective authorities.

The Centre had on September 30 said cinemas can reopen provided they get approvals from the respective states as the pandemic-led restrictions are gradually relaxed.

PVR, meanwhile, said it expects operations to improve post resumption of services in Maharashtra and Telangana, as these are states from where the company earns most of its revenues. However, PVR said that post the resumption, at least six-eight weeks would be tepid as the audience remains wary because of the Covid-19 situation.

Aarti Surfactants: Results, fund-raising eyed

The board of Aarti Surfactants will meet on Thursday to consider unaudited standalone and consolidated financial results of the company for the quarter (Q2) and half-year ended on September 30, 2020 along with a limited review report of the statutory auditors on the same.

Besides, the board will also consider raising capital by way of issuance of equity shares and/ or warrants and/ or other securities subject to such regulatory/statutory and other approvals as may be required.

Shareholders will closely monitor the fund-raising plans of the company, especially if it is through equity.

Tube Investments to provide guarantee for CG Power

The board of Tube Investments of India on Wednesday approved providing guarantee in favour of lenders of CG Power for up to 1,400 crore.

Recently, the Competition Commission of India approved the takeover of CG Power and Industrial Solutions Ltd by publicly listed Tube Investments of India Ltd, part of the Murugappa Group.

The CCI said CG Power is presently undergoing financial stress and was in immediate need of funds to continue its operations as a going concern for which the lenders of CG Power have initiated the process for resolution of stress in accordance with the Stressed Asset Directions.

In August, the CG Power board had accepted Tube Investment’s proposal to invest 700 crore following a Swiss challenge bidding process, which was initiated by the lenders to CG Power.

Shareholders of both the companies will watch further developments.

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