The Indian stock market is in the midst of a great bull run. Indiabulls, a prominent name in the financial services arena, applies for a licence for mutual fund operations.
Executives are dusting down the musty corner offices at private banks and spearheading a quiet revolution in the way they function.
Conditions attached by RBI ensure it won't take off, contend experts.
After the crunch period of 2009, the private banking industry, which caters to high net worth individuals, is once again in growth mode.
Last week, Indiabulls Infratech, part of the Indiabulls group, bagged NTC's Bharath Mill land, spread over 8.3 acres, in Mumbai for Rs 1,505 crore (Rs 15.05 billion).
Last week, the Central Board of Excise and Customs notified that a service tax of 10 per cent would be levied on the gross value of a housing property under construction from July 1.
Prospective buyers might grumble about skyrocketing gold prices, but the recent run-up in bullion has one group of unexpected beneficiaries - companies who lend against gold.
Small manufacturing companies are increasingly eyeing the growing real estate market as it turns out to be a goldmine for property developers in the country.
The Raheja-owned Shoppers Stop, which was so far an up market department chain, is becoming a full service retailer soon. It is increasing its stake in the promoter group's hypermarket chain Hypercity from 19 per cent to 51 per cent.
Big retailers say the events work, but others aren't sure.
According to estimates, about 7,000 new luxury apartments are expected to be available in the city in within a year, for over Rs 4.7 crore (Rs 47 million) each.
Following the success of the Rs 4,050-crore Wadala land deal in central Mumbai, at least three government agencies are planning to sell plots worth at least Rs 60 billion (Rs 6,000 crore) in the next two months.
The deterioration in the market mood has directly impacted fund-raising plans of real estate developers, many of whom have either delayed their initial public offers or have decided to go slow.
Apartments likely to be in the Rs 5-10 crore range each.
Reliance Retail Ltd, an arm of Mukesh Ambani's Reliance Industries Ltd, posted profit for the first time after opening its first store nearly three-and-a-half years ago, mainly aided by a tax provision of Rs 250 million (Rs 25 crore).
Bharti Walmart, the joint venture between Bharti Enterprises and Walmart, the world's largest retailer, is also expected to open cash and carry stores in the South in the next 12-24 months.
In what is the largest ATM outsourcing deal in the country, Axis Bank has entered into an agreement with two third-party service providers to increase its ATM count to more than 9,000 within the next 18 months.
Call it a revival of the information technology (IT) industry or increase in demand from non-IT sectors, office lease and sale transactions have picked up by 10 to 15 per cent in the past quarter.
Aluminum major Vedanta's $1.34-billion acquisition of the zinc assets of Anglo American, which will be funded through Hindustan Zinc, is the latest manifestation of the restored growth appetite of Indian companies.
Says Bhushan-Essel combine, the highest bidder, has withdrawn but latter denies having done so.
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