Raghavendra Kamath reports on what ails India's real estate sector.
The initial public offer of real estate developer Housing Development and Infrastructure Ltd, expected to garner about Rs 1,485 crore (Rs 14.85 billion), remained under-subscribed on the first day on Thursday.
Housing Development and Infrastructure on Tuesday said it proposes to raise up to Rs 1,485 crore (Rs 14.85 billion) through an Initial Pubic Offering to part finance land acquisition and development of its ongoing projects.
Housing Development Finance Corporation Ltd (HDFC) on Friday posted an increase of 82.54 per cent in net profit at Rs 648.93 crore (Rs 6.49 billion) for the quarter ended December 31, compared to Rs 355.49 crore (Rs 3.55 billion) for the corresponding period in 2006.
In the past three years, personal loans have grown at twice the rate of growth in personal disposable income, leading to a steady rise in household indebtedness. At the end of March this year, Indians owed Rs 25.2 lakh crore to banks and listed non-banking finance companies (NBFCs), up 65 per cent in the past three years.
As per BSE website, Infosys is now the top holding in 30-share S&P BSE Sensex, followed by ITC.
The ailing United Western Bank on Thursday submitted a scheme of reconstruction to the regulator Reserve Bank, which has placed it under moratorium due to erosion of networth.\n
Housed in a mall spread over 20,000 sq feet, this will be the first-ever centre outside Austria.
Housing Development Finance Corporation has increased loan rates by 75 basis points for new customers. It has hiked its prime lending rate (PLR) by 50 basis points to 14 per cent.
Housing Development Finance Corporation, a key home loan lender, on Monday said it is likely to increase interest rates by up to 100 basis points (bps) - 1% later this week.
Builders were questioned on unfair trade practices.
About 1,556 shares have advanced, 1,211 shares declined, and 182 shares are unchanged.
Larsen & Toubro Ltd said on Tuesday the country's leading housing finance company Housing Development Finance Corporation and HDFC India Real Estate Fund will acquire a 25 per cent stake in L&T Urban Infrastructure Ltd.
US billionaire investor Wilbur Ross has made his debut in India by buying out the troubled textile maker OCM for $37 million in an all cash deal.
Housing Development Finance Corporation on Wednesday announced its foray into the real estate fund business by launching 'HDFC Property Fund' in association with the State Bank of India.
Housing Development Finance Corporation on Thursday said it would consider increasing the corporate lending rates but would not hike the interest rate on retail loans.
PVR Cinemas, India's leading chain of multiplexes, is set to enter Chennai with a 1800 seating capacity facility at the upcoming fully-integrated shopping-cum-entertainment mall, 'Ampa Centre One' in the heart of the city.
India's first indigenously designed and developed high-thrust cryogenic rocket engine generating a nominal thrust of 19 tonnes was successfully endurance hot-tested for 800 seconds.
The Board of Control for Cricket in India, following a request from Sunil Gavaskar, interim president BCCI-IPL, has appointed Deepak Parekh as his special advisor for the 2014 season of the Pepsi Indian Premier League.
Shares of rate-sensitive realty, bank and auto sectors were on buyer's radar on Wednesday.
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