Amidst the controversial sale of stake by two new telecom operators, Swan and Unitech, at a huge premium, the Telecom Regulatory Authority of India on Thursday recommended a three-year lock-in period for stake sale by companies, which have recently got licences, in a bid to prevent them from making windfall gains overnight.
Property developers plan more launches in the sub-Rs 20 lakh category of homes, after Monday's Budget concession.
Telecom Regulatory Authority of India on Monday slashed termination charges by 33 per cent.
New telecom operators such as Swan, Unitech, Datacom and Loop, and Reliance Communications have asked regulator Trai to reduce the termination charges, while existing GSM players, led by Bharti, want the 30 paise per minute charge to continue.
A majority of big real estate developers in India today said they are insulated from the financial crisis in Dubai and it will not have any impact in the country's property market.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
Whether it would help these cash-starved firms to improve their profit margins is yet to be seen, but such a move would send a strong signal that the phase of price correction is over. "Developers want to send signals that they are good. But if they are increasing above 10-15 per cent, it would be irrational," said Sanjay Dutt, chief executive of Jones Lang LaSalle Meghraj, a property consultant.
It's actually a problem of plenty for investors now. Buoyed by the success of the three companies that sold their QIP issues within a day of opening, as many as 32 companies have joined the queue, hoping to raise a combined Rs 40,000 crore (Rs 400 billion).
Bharti to spend Rs 1,600 cr for spectrum payout over 10 yrs; Telenor to service its own debt.
Sigve Brekke, vice president and Asia-head of the Norway-based mobile major Telenor has played a big role in Telenor's aggressive Asian foray. Brekke spoke of his plans for Telenor's joint venture with real-estate firm Unitech.
Developers such as DLF, Unitech and Orbit are in the process of raising around Rs 5,000 crore (Rs 50 billion) in the current fiscal after they rolled over nearly Rs 9,000 crore (Rs 90 billion) debt subsequent to the Reserve Bank of India (RBI) allowing banks to restructure loans to developers.
The mobile tariffs in the world's cheapest telecom market are set to fall further by at least 20-25 per cent during the year, more so due to increasing number of telecom operators and infrastructure overcapacity.
If the deal goes through, this would be the second largest deal for Wipro in the telecom space. Earlier in April, the IT major bagged a Rs 2,500-crore (Rs 25 billion) contract from another new operator, Unitech Wireless. Importantly, Wipro will be pipping seven other IT vendors, including IBM and Tech Mahindra, who were also in discussions with Etisalat, according to sources.
Despite more than a 20 per cent fall in prices of houses in new projects, a majority of home buyers are looking for a further price reduction, a survey by an international brokerage shows.
India's fourth biggest realty company (by market cap) Indiabulls Real Estate (IBREL) on Tuesday said that it was planning to launch an initial public offering (IPO) for its property trust Indiabulls Properties Investment Trust (IPIT) on the Singapore Stock Exchange (SGX).
AIADMK chief Jayalalithaa on Tuesday demanded that Union Communications and IT Minister A Raja resign and face a probe on the 'spectrum allotment scam'.
Making the things worse, those hitting their record low share prices included big names like Reliance Power, Cipla, Ranbaxy, Ambuja Cement, Hindalco, Indian Hotels, Jaiprakash Associates, Jet Airways, Suzlon Energy and Idea Cellular. Realty majors DLF Ltd, Unitech, Parsvnath, Sobha Developers, Omaxe and Puravankara also plunged to their all-time lows.
Even more curious, while the law says foreigners can have only up to 74 per cent equity in a telecom firm in India, the 3G Information Memorandum says foreigners can bid without having Indian partners if they win the bid, they can then set up an Indian firm and comply with the rules.
The top 100 companies have created wealth worth Rs 25.4 lakh crore during the period 2003-08, a study has revealed. "The top 100 companies, analysed during the period 2003-08, created wealth worth Rs 25.4 lakh crore," the Motilal Oswal 13th Annual Wealth Creation Study released on Friday said. Reliance Industries, with a significant wealth creation of Rs 3.1 lakh crore became the biggest wealth creator, said the study.
After launching mid-income houses, real estate companies are now targeting low-priced homes in the sub-Rs 10 lakh (Rs 1 million) category to improve cash flows and beat the slump in the property market that has been driven by high borrowing rates.
Genpact opens offices in Kolkata on 700,000 sq.ft of land and plans to employ 7000 people.
Addressing a hurriedly called press conference to clear his position in the wake of Left parties demanding a probe, alleging Rs 60,000 crore (Rs 600 billion) loss to the exchequer in spectrum allocation, the minister said that Trai recommendations were followed in letter and spirit.
After Anil Ambani's proposed special economic zone and land allotments in Noida, all big-ticket real estate projects are being reviewed by the Mayawati government in Uttar Pradesh.
In the broader market, the BSE Smallcap and BSE Midcap index gained 0.1% and 0.4%, respectively
The Board of Approval on Tuesday cleared 10 special economic zone proposals, including three Mukesh Ambani-promoted IT zones in Navi Mumbai.
The decision was taken by an inter-ministerial Board of Approval.
Companies dismiss reports of a glut saying the demand for property remains robust.Unitech's consolidated profit numbers, for instance were way below expectations at Rs 401 crore (Rs 4.01 billion), thanks to a delay in some of its projects and the resulting lower revenues. But at the end of October, the stock was trading at levels of Rs 383, up about 50 per cent since August.
The Board of Approvals on Wednesday gave final clearance to 15 Special Economic Zones but deferred a decision on the Navi Mumbai zone promoted by Reliance Industries chief Mukesh Ambani and Anand Jain.
60 per cent of home buyers are shying away from pre-launches.
As real estate investment trusts are yet to take shape in India, about a half a dozen realty firms have started the spadework for listing REIT-like vehicles on the Singapore Stock Exchange.
The matter was mentioned before a bench of Delhi high court's acting chief justice Gita Mittal and kustice C Hari Shankar by Additional Solicitor General Tushar Mehta. The court allowed it to be listed for hearing on Wednesday.
Director of Unitech, Sanjay Chandra believes that with income levels and economy, both rising, the end-users or buyers are still there in the market and very actively still buying and does not expect any slowdown.
Team India is likely to play three practice matches in Chennai ahead of the tri-series in Malaysia.
The opening match between South Africa and Sri Lanka will be rescheduled.
The opening match between South Africa and Sri Lanka will be rescheduled.
Sri Lanka are anticipating an easy victory against a depleted South Africa in the first match of the Unitech Cup.
If you are already invested in real estate stocks, you've made your money, exit
The CMM was appointed as commissioner to record 84-year-old Ammal's testimony by a Special CBI Court, holding trial in the case, in the wake of the Supreme Court's direction.
The solution lies in asking the private sector to get its own land; indeed, some of the firms planning large retail footprints across the country are tying up with specialised realty firms for precisely this reason.
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