'The consolidation of the world's fifth-largest economy in the hands of 15-20 corporate giants is a once-in-generation event, which we are focusing on.'
A newly opened building in the diamond hub of Surat in Gujarat has surpassed the Pentagon as the world's largest office building, according to a report in CNN. Surat Diamond Bourse, billed as a "one-stop destination" for over 65,000 diamond professionals, including cutters, polishers and traders, will welcome its first occupants in November, the report said. It features a succession of nine rectangular structures spilling out from - and interconnected via - a central "spine", and the sprawling 15-storey complex has been built across more than 35 acres.
The past 18 months have seen a resurgence in the real estate industry, with developers regaining the ground lost to the Covid-19 pandemic. But it is once again adding inventory at a pace faster than sales. The industry's inventory rose by 28 per cent year-on-year (Y-o-Y) in H1FY24, com-pared to a 25.5 per cent year-on-year increase in net sales during the same period.
The round-the-clock rescue work is being carried out by 165 personnel from multiple agencies, including the National Disaster Response Force, State Disaster Response Force, Border Roads Organisation and the Indo-Tibetan Border Police, the State Emergency Operation Centre said.
A high performance drilling machine was brought in Uttarkashi from Indore on Saturday to pierce through the rubble of the collapsed tunnel on the Char Dham route and was being assembled before it is deployed to resume drilling, officials at the site said.
Billionaire Gautam Adani-led group's renewable energy firm on Thursday announced plans to raise Rs 12,300 crore through a share sale to investors as the group continues to build on a comeback strategy to emerge out of allegations of fraud levelled by a US short-seller. Adani Green Energy Ltd in a stock exchange filing said its board has approved raising up to Rs 12,300 crore through an issue of equity shares by way of qualified institutional placement (QIP). The funds are intended to be used for meeting capital needs of the company's expansion plans.
Coupang, a prominent online retail giant headquartered in the United States (US), is gearing up to establish a cutting-edge technology centre in India, aiming to hire several dozen skilled professionals by the end of the year, Business Standard has learnt. The intended expansion involves the recruitment of software engineers across various domains, underscoring Coupang's commitment to extend its global reach. The Indian team will support the company's global technology team, sources said.
With many of his close associates leaving his side, it is virtually a lone battle for Congress stalwart Kamal Nath to help his parliamentarian son Nakul Nath win from Chhindwara for a second time amid the Bharatiya Janata Party's aggressive push to wrest the seat.
rediffGURU Krishna Kumar, founder and CEO of GoMoTech, offers expert advice on how to scale up in your career and life.
The 41 workers trapped in Uttarakhand's Silkyara tunnel for the last 11 days are likely to be rescued in the next few hours or by tomorrow, National Disaster Management Authority (NDMA) member Lt Gen (retd) Syed Ata Hasnain said on Thursday evening.
The Indian economy is likely to post better than anticipated growth in the second quarter (July-September) owing to robust urban consumption and expansion in services, a Business Standard analysis of high-frequency indicators showed. While gross domestic product growth in the September quarter is expected to come below the 7.8 per cent print in the June quarter due to a favourable base fading, analysts say the print will be much closer to 7 per cent than the 6.5 per cent anticipated earlier. While the Reserve Bank of India (RBI) had estimated 6.5 per cent growth for July-September, last month Governor Shaktikanta Das said the growth figure would surprise on the upside.
The ship, outbound from Baltimore to Colombo, struck a 1.6-mile-long, four-lane bridge in Baltimore in the early hours of Tuesday morning. Shortly after the collision, the bridge collapsed, crashing on the cargo ship.
The government also plans to build MPs' chambers that will come up on the land where the Transport Bhawan and Shram Shakti Bhawan are located.
As Ayodhya readies itself for the glittering, much-awaited consecration ceremony of the Ram Mandir on January 22, and as millions of pilgrims and devotees pour into the holy city for the momentous event, companies are rushing to do their bit and be a part of the mega celebrations. Some are offering a part of their profits as donations, telcos are beefing up the number of cellular towers to ensure better connectivity, and there are those distributing jalebis and food platters.
Addressing the Manipur assembly during the commencement of the budget session, she said that 198 companies of central armed police forces and 140 army columns have been deployed along with state forces to maintain law and order.
From installing water-saving aerators on taps to using cans for washing hands and dishes, Bengaluru is adopting diverse strategies to tide over the water crisis. While several citizens have taken to social media to urge Karnataka Chief Minister Siddaramaiah to make work from home mandatory for IT companies, it appears that hybrid mode will continue to be the norm for most - although with new water conservation measures in place. Co-working space provider Urban Vault has, for instance, installed smart water meters to detect leakage.
Before resigning as an auditor of an Adani Group firm, Deloitte had sought an independent external examination of allegations made by a US short-seller but the company said the allegations had no effect on financial statements and the reasons cited for quitting were not convincing to warrant such a move. In a 163-page filing with stock exchanges relating to Deloitte Haskins & Sells LLP's resignation, Adani Ports and Special Economic Zone (APSEZ) said that in meetings with its leadership, Deloitte indicated concern over a lack of a wider audit role as auditors of other listed Adani companies. However, the firm conveyed to the auditor that it was not within its remit to recommend such appointments as other entities are "completely independent".
The labourers have been trapped since Sunday morning when a part of the tunnel collapsed following a landslide.
Heather Constructions has alleged that it was given a contract for construction of Rajiv Gandhi's statue and is yet to receive dues amounting to Rs. 3.5 crore.
'Candidates will receive hands-on training in drone piloting, maintenance, data analysis, and regulatory compliance.'
More and more women are making their presence felt in jobs related to sciences, technology, and engineering across organisations.
The tax department has deployed about 40 large and small machines to count currency notes and brought in more department and bank staffers to finish the counting process, which began on December 6 following raids against Boudh Distillery Pvt Ltd and others, they said.
'Institutional ownership, by December 2018, had increased 37.5% from approximately 22% in early 2009,' points out Amit Tandon.
A scheduled wedding, taking place between two alleged gangsters -- Anuradha Choudhary alias 'Madam Minz' from Rajasthan and Sandeep alias Kala Jathedi from Haryana -- is being discussed in police circles.
India's corporate sector is likely to report a slowdown in revenue growth and earnings for the July-September 2023 period (Q2FY24), according to earnings estimates by brokerages, after the country's top listed companies posted higher than expected profits for the first quarter. The combined net profit of Nifty50 companies, based on brokerage estimates, is expected to have grown by 19.6 per cent year-on-year (Y-o-Y) to Rs 1.75 trillion in Q2FY24 - a sharp deceleration from 37.6 per cent Y-o-Y growth in the combined earnings of index companies in the April-June 2023 period. According to estimates, the combined earnings in the second quarter would be down 8.8 per cent on a quarter-on-quarter (Q-o-Q) basis and the lowest in the past three quarters.
Top construction companies in the country are in the race to bag Rs 9,600-crore (Rs 96 billion) deal for constructing All India Institute of Medical Sciences (AIIMS) hospital in Raipur.
Bengaluru recorded the highest green building stock at 140 million square feet, followed by Delhi-National Capital Region at 74 msf, and Hyderabad at 72 msf for Grade A office buildings as of September 2023.
Dr Ravikant said the workers were thoroughly examined and their blood test, X-ray, and ECG reports were normal.
The Supreme Court on Monday dismissed a plea challenging the Bombay high court verdict that directed the Mumbai civic body to demolish the unauthorised construction at Union minister Narayan Rane's bungalow in the Juhu area, noting that there was a violation of the Floor Space Index and Coastal Regulation Zone rules.
Of the deceased, five were from West Bengal, two each from Jharkhand and neighbouring Assam and one from Mizoram's Lunglei district, the official said.
The two-storey 6,900 square foot structure will be used as an office for general administrative functions by the Dubai Municipality. It was designed in collaboration with Apis Cor, a 3D printing and construction company in Boston.
The ultras released the engineer Ashok Pawar and worker Anand Yadav unharmed on Tuesday evening but Sonali is still inside the forest. She is in touch with local journalists and police officials.
'Why should we disclose classified information to satisfy those who doubt our Hydrogen Bomb capability?'
Bharatiya Janata Party leader Kirit Somaiya on Tuesday demanded a special Comptroller and Auditor General audit into the alleged irregularities related to the construction of Maharashtra Sadan building along with an inquiry into certain 'benami' companies, which he claimed, had been floated by two state ministers.
With another rate cut unlikely to happen soon, coupled with a muted order inflow trend, investors should tread with caution.
Auditor Deloitte flagged three transactions, including recoveries from a contractor identified in the Hindenburg report, as it issued a qualified opinion on the accounts of Adani Ports & Special Economic Zone.
The work will finish by end of the year.
rediffGURU Samkit Maniar answers readers' personal income tax queries
US-based boutique investment firm GQG Partners along with other investors on Wednesday bought an 8.1 per cent stake in Adani Power Ltd for over Rs 9,000 crore ($1.1 billion) as the marquee investor shrugged off damning report of a US short seller to invest in billionaire Gautam Adani's group.
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