BRISK SALES ACTIVITY
Mumbai realty market breaks record for 10th month in row
Mumbai, India's commercial capital, has recorded its best performance on record for real estate deals in May, driven by brisk sales and high demand despite increased mortgage rates and rising property prices. The Mumbai property market saw over 11,917 property registrations, up 21.3% from the previous year. The market's sustained confidence in India's economic expansion has resulted in robust business activity in the industry.
Mumbai property market continues record-setting spree with best-ever May
The country’s commercial capital witnessed more than 11,917 property registrations during the month, up 21.3% from a year ago. The performance led to the state exchequer fetching revenue worth over Rs 1,029 crore through stamp duty collection, up 23.5% on-year, showed data from Inspector General of Registration (IGR) and Controller of Stamps, Maharashtra.
India Cements Q4 Results: Net loss narrows to Rs 50.06 crore
The cement and clinker volume for the fourth quarter was 24.36 lakh tonne as compared to 27.85 lakh tonne in the same period of the previous year, it added.
Ola Cabs CEO quits; Elon Musk scores big win in China
Just three months after joining the ride-hailing firm, Ola Cabs CEO Hemant Bakshi has called it quits. Details on this and more in today’s ETtech Top 5.
Charting the global economy: BOJ holds; US inflation won’t let up
The US data this week indicated inflation accelerated in the first quarter, reinforcing expectations the Federal Reserve is likely to keep interest rates higher for longer.
Mumbai property market record performance spree continues in March
The country’s commercial capital has witnessed the registration of over 14,145 properties during the month, up 7.5% from a year ago. Revenue collection through stamp duty charges, however, declined 8.1% to Rs 1,125 crore, according to data from the inspector general of registration in Maharashtra.
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When Byju’s made its presence felt, in absence; and other top stories this week
Upgrad cofounder Ronnie Screwvala huddled up with a group of founders and edtech leaders to discuss the way forward from the perception hit, which the sector has taken as a result of the doings of just one company.
US retail sales fall sharply in January; weekly jobless claims decline
U.S. retail sales fell more than expected in January due to declines in auto dealership and gasoline station receipts. Winter storms and revisions in December sales further contributed to the drop. However, consumer spending remains healthy with a resilient labor market and rising household purchasing power. Initial claims for unemployment benefits also decreased, indicating a tight labor market.
IPO calendar: Nova Agritech among 6 issues to be launched next week
The IPO of Nova AgriTech will open for subscription on Jan 23 and close on Jan 25. The firm has raised Rs 40 crore from anchor investors, where Quantum-State Investment Fund, Neomile Growth Fund, among others participated. The price range of the issue is Rs 39-41 per share, where investors can bid for a minimum of 365 shares and in the multiples thereafter.
This is the right time for companies to appreciate economic utility of trade unions
There are two aspects of unions and their work that employers in India would do well to focus on. Their role in bridging the wide gap between enterprise-level rationality and economy-wide rationality. On completing Indian society's stunted modernisation, which depresses the quality of workforce.
Sparkle back as polished diamond prices rise 10%
A month ago, diamond prices had plunged by 35% due to excess supply amid weaker exports to the US which is facing recessionary pressures. Dinesh Lakhani, director (global business) of Kiran Gems, the largest diamond manufacturer in India, said, "The inventory has almost been liquidated. The supply-demand position has improved which has pushed up polished prices. The sales of diamonds in the US, though slow, is still moving."
India Inc walks the extra mile to keep employees healthy
The addition of a chief fitness officer to the Zomato leadership reflects a growing commitment at India Inc — taking the health and fitness levels of employees very seriously.
Metals Outlook: Concerns over slower global growth outlook, feeble demand from China
Weak economic indicators from China and concerns over global growth are hampering demand for industrial metals, with most trading at lower levels than in April. Copper and lead prices declined due to demand concerns, as did aluminium and zinc, which shed more than 50% so far. The property sector in China is beginning to stabilise, but recovery remains subdued due to high debt levels and inflation, while retail sales numbers have posted a contraction. Supply outlook for 2023 is encouraging and a deceleration of global growth and muted demand from China will continue to dominate the metals market.
India Cements Q4 Results: Net loss widens to Rs 243.8 crore
Its revenue from operations rose 4.8 per cent to Rs 1,485.73 crore during the period under review as against Rs 1,417.62 crore of the corresponding quarter.
Rural markets come back to life, automakers see significant pick-up in demand
At Maruti Suzuki, dispatches of the Alto small car - a top seller in rural India - rose 42.5 per cent to 61,767 units in the three months through November.
Gold, jewellery glitter as Dhanteras witnesses robust sales this year
Dhanteras is regarded as the most auspicious day in the Hindu calendar for buying items like precious metals, utensils and other valuables. Many people also buy vehicles.
Brisk vaccination rate primes Indian economy for acceleration
Two of the eight high-frequency indicators tracked by Bloomberg gained speed last month, while five held steady and one slowed. The needle on a dial measuring so-called animal spirits, however, remained unchanged from the July level, as the gauge uses three-month weighted average to smooth out volatility in single-month readings.
Pandemic forces bikes off roads. A helmet-maker tries side hustles.
When roads went empty, helmet manufacturer Steelbird found other ways to save lives.
Tech demand drives Asia's factory revival, China's slowdown puts dampener
In Japan, manufacturing activity expanded at the fastest pace in over two years while South Korea's exports rose for a fourth straight month in February.
After Market: 134 stocks at 52-week lows in flat market; brisk trade in JPA, Adani
NSE’s Nifty50 ended above 11,000 at 11,019 with 23 constituents advancing and 27 declining.
Newer products in cattle vaccine segment aided sales: Rajiv Gandhi, Hester Biosciences
These vaccines have been taken up by various govts not only in India, across the globe towards their disease eradication programmes. So, we are very optimistic about the sales specifically for the new vaccines.
Demonetisation: Jewellery sales take hit at Zaveri Bazaar
The industry is already passing through bad phase due to lower demand despite ongoing wedding season. We hope things will improve in the near future, he said.
Patanjali on track to hit $1 billion sales in FY17
With the financial year nearing a close, an official pointed explained, all hands are on the deck to help the company achieve its targeted turnover of Rs 5,000 crore this fiscal.
Markets abuzz with activity ahead of Eid-ul-Fitr
Markets across Kashmir including Srinagar were abuzz with activities as people came out in large numbers to shop for Eid-ul-Fitr likely to be celebrated tomorrow on the conclusion of the month of Ramazan.
Dhanteras gold, silver sales to surge on lower prices
Traders attributed the spurt in buying to a sharp fall in gold prices which are ruling at Rs 27,925 per 10 grams in the national capital.
Yamaha domestic sales up 40.14%
Yamaha sold 34,021 units in May 2013. The company last month exported 19,440 units as compared to 15,356 units sold in May last year, up 26.6 per cent.
Panasonic targets Rs 500-crore sales from Gujarat in FY13
Consumer durables maker Panasonic today said it aims to garner business of Rs 500 crore from Gujarat in the current fiscal.
Jan Lokpal Bill: Activities and happenings related to Anna Hazare's anti-corruption campaign
A look a how supporters of Anna Hazare from around the country and abroad are coming out in huge numbers for a strong Lokpal Bill.
Elecon Engg up 10% on strong FY09-10 sales outlook
Shares of Elecon Engineering witnessed brisk buying activity following the company’s announcement that it plans to grow at 20% in FY2009-10.
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