Business
Godrej Properties Wins Bid For Two Housing Plots In Gurugram Costing Rs 515 Crore
NEW DELHI: Realty firm Godrej Properties has won bid for two residential plots in Gurugram costing Rs 515 crore and will develop luxury homes worth Rs 3,400 crore on these land parcels. In a regulatory filing on Monday, Godrej Properties informed that it has “emerged as the highest bidder...
FICCI CASCADE Underlines Need For Global Cooperation To Curb Smuggling For Sustainable Growth
NEW DELHI: To combat the menace of smuggling and counterfeiting that feed into terror financing and organised crime, FICCI Committee Against Smuggling and Counterfeiting Destroying the Economy (CASCADE) will be organising the 10th edition of MASCARADE (Movement Against Smuggling and Counterfeit Trade) this month in the national Capital. MASCARADE...
Moody’s Raises India’s Growth Projection; Fitch Affirms ‘BBB-‘ Rating
NEW DELHI: Moody’s Ratings raised India’s gross domestic product (GDP) growth projection for this calendar year to 7.2 per cent from 6.8 per cent previously on the back of expectations of robust broad-based recovery and signs of improving rural demand, while Fitch affirmed the country’s sovereign credit rating, the...
Govt Lowers Minimum Public Shareholding Rule To 10% For GIFT City Listing
NEW DELHI: The finance ministry on Thursday issued a notification allowing companies to list on stock exchanges in GIFT City with a minimum of 10 per cent public shareholding, down from the previous requirement of 25 per cent for continued listing on stock exchanges in India and GIFT City....
India On The Cusp Of A New Revolution In Telecom, Can Lead The World In 6G
NEW DELHI: India can lead the world in 6G, after keeping pace with the world in 3G and 5G, communications minister Jyotiraditya Scindia said. Speaking with Kiran Rathee and Romit Guha, Scindia, also the minister of development of north eastern region (DoNER), said the government has fixed no timeline...
Centre Sets Milestones For States On Urban Land Reforms
NEW DELHI: The Centre has set three milestones in urban land reforms, which will lead to the finalisation of land parcel-based property cards, for states to become eligible for incentives in the form of grant-like capex loans. It has earmarked Rs 5,000 crore in FY25 for the participating states...
Adani Tops Ambani As India’s Richest On Hurun List, SRK Makes Debut
MUMBAI: Despite challenges following US-based short seller Hindenburg Research’s report against his companies in January last year, billionaire Gautam Adani and his family top the 2024 Hurun India Rich List, after their wealth increased 95 per cent to Rs 11.61 trillion. He replaced Reliance Industries Chairman Mukesh Ambani and...
NTPC Plans New Subsidiary For Nuclear Energy Business
State-owned NTPC is planning to set up a new subsidiary to undertake nuclear projects, its chairman and managing director Gurdeep Singh said on Thursday. Speaking at the company’s 48th annual general meeting, he said NTPC is on the verge of commencing work on the 2.8-gigawatt (GW) Mahi Banswara nuclear...
New Energy To Rival O2C Business; Rs 75,000 Crore Investment Plan On Track
MUMBAI: Reliance Industries has chalked major plans for its new energy business, which includes production of solar photovoltaic modules by year-end. With new units being set up for the renewable energy solutions, the company is also aiming to make Jamnagar the energy capital of the world. It is also...
Ambani Announces Jio AI Cloud Welcome Offer; Up To 100 GB Free Cloud Storage For Jio Users
NEW DELHI: Stepping up the company’s AI and cloud play, Reliance Industries Chairman Mukesh Ambani on Thursday announced that Jio users will get up to 100 GB of free cloud storage to securely store and access their photos, videos, documents, digital content and data. Addressing the 47th AGM of...
Industry Came Forward For Rules On Small, Medium REITs: SEBI Chief
MUMBAI: Sebi chief Madhabi Puri Buch on Thursday said there has been a positive response to small and medium REITs (real estate investment trusts) and industry players came forward for regulations on such entities. Recently, the Securities and Exchange Board of India (Sebi) implemented regulations for small and medium...
Paytm Shares Jump 5 Per Cent On Receiving Govt’s Nod For Investment In Paytm Payments Services
NEW DELHI: Shares of fintech firm One97 Communications — the owner of Paytm brand — jumped 5 per cent on Thursday morning after the company received the government’s approval for downstream investment in wholly-owned subsidiary Paytm Payments Services Ltd. The stock climbed 5 per cent to Rs 565 on...
Indian Economy Remains Resilient Amid Global Uncertainties
NEW DELHI: Amid global geo-political uncertainties, the Indian economy has remained resilient but the outlook seems softer due to moderation in a couple of high-frequency indicators, according to the Monthly Economic Review for August. The review was released by the National Council of Applied Economic Research (NCAER). The report...
Cabinet Approves 12 Industrial Smart Cities Worth Rs 28,602 Crore
NEW DELHI: The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, has greenlit the development of 12 industrial smart cities across six major industrial corridors in 10 states, with an estimated investment of Rs 28,602 crore. These projects are designed to attract substantial investments, with...
India Likely To Plan Raising Vegetable Oils Import Taxes, Govt Sources Say
MUMBAI: India is considering an increase in import taxes on vegetable oils to help protect farmers reeling from lower oilseed prices, two government sources said on Wednesday. The move, which is likely to be announced in the coming weeks, could dampen demand and reduce overseas purchases of palm oil,...
SEBI Proposes Overhaul Of Investment Banking Norms Amid Boom In ECM
MUMBAI: The Securities and Exchange Board of India (Sebi) has proposed an overhaul of investment banking regulations amid a boom in the equity capital market (ECM). In a consultation paper floated on Wednesday, the regulator has proposed a 10 time-hike in the net worth and provided more clarity on...
GCCs Offering Up To 20 Per Cent Higher Salaries Than It Services: Report
MUMBAI: Global Capability Centres (GCCs) in India are offering up to 20 per cent higher salaries as compared with the IT services, especially at entry and mid levels, a report said on Tuesday. According to the report by TeamLease Digital, India has over 1,600 GCCs employing over 1.66 million...
Shipping Ministry Approves Wage Structure Revision For Workers Of Major Ports
NEW DELHI: The Ministry of Ports, Shipping and Waterways has approved wage structure revision for workers at major ports, an official statement said on Wednesday. According to the statement, a memorandum of understanding (MoU) was signed between the Bipartite Wage Negotiation Committee (BWNC) and the Indian Port Association (IPA),...
