Realty firm TARC Ltd on Thursday said it will invest Rs 1,200 crore to develop a luxury housing project in Central Delhi as part of its expansion plan amid strong demand for residential properties. The company, listed on stock exchanges, will develop 411 apartments in the project 'TARC Kailasa' at Kirti Nagar. "We have launched a new housing project in the heart of Delhi.
Open FlipWelspun New Energy Limited (WNEL) signed a Memorandum of Understanding (MoU) with Gujarat Pipavav Port Limited (GPPL) on January 10 to jointly explore opportunities and develop green hydrogen facilities for the production of hydrogen on a land parcel provided by GPPL.
Open FlipIndia and the United Arab Emirates have signed a deal to explore the establishment of grid connectivity between the two countries, Foreign Secretary Vinay Kwatra said on Wednesday. Kwatra said the deal is part of a total of four memorandums of understanding signed between New Delhi and Abu Dhabi in the ongoing Vibrant Gujarat Global Summit, Kwatra said.
Open FlipShares of Hero Motocorp Limited surged over 5 percent to Rs 4,367 in afternoon trade on January 11 after CNBC TV-18 reported that the two-wheeler major is set to enter the 440 cc segment by launching a range of products on January 23. "Maverick will be Hero's entry into the 440cc segment for India and global markets and will be rolled out commercially in the coming months," CNBC TV-18 said.
Open FlipMahindra & Mahindra has launched the XUV400 Pro, the updated version of its e-SUV XUV400, at a starting price of Rs 15.49 lakh. XUV400 Pro comes in 3 variants — EC Pro (34.5kWh battery, 3.3 kW AC Charger), EL Pro (34.5 kWh battery, 7.2 kW AC charger) and EL Pro (39.4 kWh battery, 7.2 kW AC charger). The EC Pro, which is the base variant, is priced at Rs 15.49 lakh.
Open FlipThe discussion and voting on the demands for grants of various ministries and departments in Lok Sabha is an integral part of the Union Budget. As Finance Minister Nirmala Sitharaman is going to present the Interim Budget for the financial year 2024-25 on February 1 in Parliament all eyes will be on the demands for grants.
Open FlipAdani Ports and Special Economic Zone (APSEZ) is looking to raise up to Rs 500 crore through the issuance of two sets of non-convertible debentures (NCDs) next week, market sources said.The company aims to raise up to Rs 250 crore through the sale of a 2034 bond with a coupon of 8.80% and Rs 250 crore through the sale of a 2029 bond with a coupon of 8.70%, sources aware of the development said.
Open FlipThe Union Budget session for FY25 is set to begin on January 31 and will continue until February 9, according to various news reports. Finance Minister Nirmala Sitharaman will present the Interim Budget on February 1. The President, Draupadi Murmu, will address both houses on January 31, marking the official beginning of the Budget session.
Open FlipIndian benchmark indices were trading higher amid favourable global trends on January 11 afternoon. Barring capital goods, all sectoral were are trading in the green. The broader market, too, gained, with BSE midcap and smallcap indices up 0.7 percent each. The Nifty needs a move up or down by 250 to 300 points for a directional move, experts said.
Open FlipU.S. stock exchange Nasdaq has held talks with Indian authorities on potentially allowing local Indian companies to list directly on foreign stock exchanges, a senior Nasdaq executive said. Indian companies are currently not allowed to list their shares directly on overseas markets, but global investors and top Indian startups have been calling for this to change.
Open FlipMost of Wall Street slipped, giving back some of the big gains from the day before. The S&P 500 fell 0.1% Tuesday, coming off its best day in nearly two months. The Dow lost 0.4%, and the Nasdaq composite edged up 0.1%. Roughly three out of four stocks in the S&P 500 ended lower, but Nvidia rallied to another record.
Open Flip“My outlook for the S&P 500 for 2024 is another good year—in the order of 8-10 percent price gain—and I think value stocks, particularly smaller-cap value stocks, trading at much lower multiples could do better, with around 15 percent appreciation,” Siegel said in his WisdomTree weekly commentary note.
Open FlipBudget carrier SpiceJet has received shareholders' approval to raise Rs 2,250 crore, which was approved by the board earlier. The fresh capital raising will be done through the issuance of equity shares and warrants. The proposal was put to vote of shareholders at the company's 39th annual general meeting.
Open FlipFinance Minister Nirmala Sitharaman on Thursday said India has a USD 10.1 trillion funding gap to meet its net zero commitment and asked IFSC to set up a platform where green credits can be traded. Speaking at a session 'An aspiration of modern India' at the GIFT City, the minister said companies in India will be able to access global funds soon with direct listing on IFSC exchanges.
Open FlipThe Union Budget is likely to look at an allocation lower than Rs 1.75 lakh crore for fertiliser subsidy in 2024-25 owing to a drop in international prices, government push towards schemes for use of bio and organic fertilisers and increased use of nano urea, a government official said. In the current fiscal year (2023-24), the fertiliser subsidy is likely to touch Rs 1.88 lakh crore.
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