In order to tap the booming construction sector, Europe's leading infrastructure group, Strabag SE, has joined hands with Indiabulls Real Estate Ltd for working on large development projects in the country.
After consumer finance and real estate, the Indiabulls Group is set to step into the retail business. Indiabulls Wholesale Services Ltd, a subsidiary of listed firm Indiabulls Real Estate Ltd, will set up 30 hypermarkets across as many smaller cities in the country in the next 15 to 18 months with an outlay of Rs 1,500 crore (Rs 15 billion).
Indiabulls Financial Services Ltd said on Friday it will seek shareholders approval for restructuring and re-organisation the company's businesses through the demerger of its real estate business into Indiabulls Real Estate Ltd. \n
Unitech and Indiabulls Real Estate Ltd (IBREL) have deferred the listing of their respective real estate investment trusts (REITs) on the Singapore Stock Exchange (SGX)owing to the liquidity crunch in the global markets. Both Unitech and IBREL have received approval from the SGX for the initial public offers (IPOs) of their trusts.
The list includes Gautam Adani's brother Vinod Adani among others.
Shares of Indiabulls Real Estate fell by over 12 per cent, Indiabulls Financial Services by 11 per cent, Indiabulls Power Ltd by 11.8 per cent and Indiabulls securities by about five per cent.
The Mumbai Metropolitan Region Development Authority on Tuesday received huge response for its Iconic Tower in Wadala (a Mumbai suburb) with Lodha Crown Buildmart Pvt Ltd quoting more than double the reserve price of Rs 40,000 per sq mt.
Government on Monday formed a multi-agency group to monitor exposes in this regard and vowed to take action against all "unlawful" accounts held abroad.
Last week, after months of scrutiny, the Forward Markets Commission, the regulator for futures trading in commodities, approved a proposal from state-owned MMTC Ltd and finance-to-real estate group Indiabulls to set up a national multi-commodity exchange.
Banking stocks felt the heat due to worries that the lending rate cuts will hit their bottom line
Shares of rate-sensitive realty, bank and auto sectors were on buyer's radar on Wednesday.
Largest deal in thermal power space; Lanco to use proceeds to lower debt.
Around 300 promoters serve their company boards for free.
Nifty snaps 10-day winning streak
Weak GDP data and unfaouvrable global data has pulled down Sensex, Nifty.
Investors cheered a sharp decline in the Current Account Deficit, which stands at a 4 year low as exports picked up and gold imports reduced.
Ajit Mishra, Vice President, Research, Religare Broking, answers readers' stock market queries. Ajit will offer his unbiased views on a weekly basis
Ajit Mishra, Vice President, Research, Religare Broking, answers readers's queries on stocks they own or want to buy.
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