Independent directors of Raymond Ltd on Friday said they are monitoring the situation arising out of the matrimonial dispute of company's Chairman and Managing Director Gautam Singhania to ensure it does not affect his capacity to manage the affairs and business of the firm. In a joint communication shared on BSE by the company, the independent directors also said they have decided to retain Berjis Desai, a senior independent legal counsel, who has no links with promoters or the company, for advising them.
Sahil Vachani fuels Analjit Singh's new business initiatives
Monetising real estate assets is part of the overall relief package that would be used to retire debts, upgrade networks, and offer VRS aimed at reducing the telcos' employee strength by half.
Younger brother Surendra wants to re-invest his share in real estate and education
Every housing finance company, and every bank with a large housing finance exposure, will see loss of volumes in this quarter.
Aggressive acquisitions & deep pockets fuel real estate competition; experts suggest future partnership
About 5.5 million users are looking for real estate online in India
The trust deficit has widened with buyers losing confidence in a developer's ability to construct and deliver a project on time.
The entire proceeds from the sale of Reliance Centre will be utilised only to service YES Bank debt.
GVK Skycity's 20-million sq ft commercial space will be bigger than that in BKC; bids invited for first phase.
Internet, tech, infra, realty in India might gain
Fundraising through the issuance of shares to qualified institutional investors has seen hectic activity in the first half of the current fiscal year (FY24), with 20 companies mobilising over Rs 18,400 crore, more than four-fold from the year-ago period, on positive investors' sentiments. Moreover, the robust trend of Qualified Institutional Placements (QIPs) in the first half of the fiscal year 2023-24 is expected to persist throughout the second half of the year too, Sanjay Moorjani, Research Analyst at SAMCO Securities, told PTI. Prashant Rao, director and head of equity capital markets, Anand Rathi Investment Banking, said that market and investor sentiments play an important role for these issuances.
Each of the centres will have facilities such as Wi-Fi, air conditioning, free housekeeping services, locker facilities, and CCTV surveillance
The blast at The Rameshwaram Caf has caused distress and concern among the startup and information technology (IT) community, raising questions related to safety and security. Approximately 10 people were reportedly injured in a low-intensity bomb blast at The Rameshwaram Caf, a popular restaurant in Bengaluru's Brookfield. The surrounding area is a major hub for the Indian technology (tech) industry, housing many startups and top IT companies such as IBM, SAP, Accenture, International Tech Park Bangalore, and Prestige Technostar.
Anshuman Magazine of CBRE discusses effective leadership, millenials, Trump's America and his core business -- the real estate market -- with Nivedita Mookerji.
'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.'
CEOs expect to finish the ongoing March quarter with positive growth as the corporates get back to work in full strength.
From real estate to metals, what Sitharaman's Budget has in store.
The proposed ban on cash transactions above Rs 3 lakh may hit luxury goods, jewellery sales and real estate.
Average monthly GST collection rose from Rs 90,000 crore during the first year of its implementation -- 2017-2018 -- to Rs 1.68 trillion during 2023-2024, representing an 87 per cent rise.
'The announcement has come too late. This should have been done years ago.'
Unseasonal rains watered down the performance of consumer durables companies as temperatures cooled, impacting the sales of refrigerators and air conditioners (ACs) in the 2023-24 (FY24) April-June quarter. Centrum says in its report on the sector that the trade channel indicates a 25-30 per cent year-on-year (YoY) decline in sales of refrigerators and ACs in April and May due to restricted buying. "While some green shoots in demand were visible in June, overall growth for the quarter is likely to remain at a negative 10-12 per cent," observes the brokerage.
'...which is possible through flexicap and multicap funds.' 'The latter has a better balance between large, mid and smallcap stocks.'
'Two esteemed foreign investors with huge funds are coming with us in our real estate and city development businesses.'
Shapoorji Pallonji Group's head Pallonji Mistry died at his residence here, company officials said on Tuesday. Mistry, the largest individual shareholder in the Tata Group with a 18.4 per cent holding in the conglomerate, was 93.
Experts say a lot of new wealth is being generated by promoters selling their stake.
Dalhousie square has close to 55 historic landmarks.
In addition to the negative sentiment as a consequence of changes announced in the Union Budget 2023-24 concerning tax treatment for debt repayment distribution, concerns about hiring slowdown and its leasing impact, as well as higher interest rates, could blight the sector in the near term.
The sobering news is that retailers - including big firms like Reliance Retail - and exhibitors are contemplating issuing force majeure notices to shopping malls and real estate owners, and are in discussions with them to formulate an action plan for sharing the financial burden of the lockdown.
Mahindra & Mahindra chairman emeritus Keshub Mahindra passed away this morning in Mumbai due to old age. Mahindra, 99, breathed his last this morning at home peacefully, said a person close to the family. After joining the company in 1947, he became the chairman in 1963.
BlackBerry has no plans to sell its devices business even as the Canadian smartphone maker faces losses and inventory pile
Proxy advisory firm Institutional Investor Advisory Services (IiAS) has asked independent directors of Raymond Ltd to consider appointing an interim CEO and investigate the allegations of assault by its chairman and MD Gautam Singhania on his wife and daughter, and the use of company funds for personal benefit. In an open letter to the company's five independent directors, IiAS also suggested they ask Singhania and his estranged wife Nawaz Modi, also a board member, to take time off from their responsibilities as board members. The five independent directors to whom the letter was addressed are Mukeeta Jhaveri, Ashish Kapadia, Dinesh Lal, K Narsimha Murthy, and Shiv Surinder Kumar.
India's existing web of federal and state sales taxes is levied at different stages of the supply chain and often results in double taxation, while forcing trucks to spend nearly a quarter of their road time in border checks or other inspections.
The crux of the problem it appears is one of "trust" and the perception that a unilateral decision was taken by the board, allegedly to favour Raju's sons' companies.
The purchase or construction of houses by large numbers of people can add meaningfully to India's economic growth, points out Neelkanth Mishra.
The realty market has been reeling under declining sales, coupled with higher inventory, for the past two years.
The net leasing of Grade-A commercial office space in India will stagnate this financial year at 32-34 million square feet, with global uncertainties brewing caution among key tenant categories, according to the latest Crisil Ratings report. Major seven cities in India - Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai Metropolitan Region (MMR), National Capital Region (NCR) and Pune - had Grade-A office space with an operational stock of around 705 million square feet as of March 2023. India's commercial office space is dominated by technology companies, with information technology (IT) and IT-enabled services (ITeS) companies occupying 42-45 per cent of the operational stock.
'Professors can teach even when they are 90 because they don't lose their skill with words. Go deeper and there's spirituality in it.'
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