COMMERCIAL SEGMENTS
Residential property sales highest in a decade: Not affordable housing, but this segment emerges as top favourite
India's real estate sector remained buoyant as residential housing sale surged to an 11-year high in the first half of 2024. A total of 1.73 lakh residential units sold during the January-June period of 2024, according to the Knight Frank report. Mumbai led with 47,259 units sold, up 16% during H12024. The premium housing sales rose to 34% market share in H1 2024, from 15% in H1 2018. Meanwhile, the affordable housing segment sales dropped to 27% in the January-July period 2024.
What to expect from real estate and infra sector in upcoming Budget? Keki Mistry answers
Well, I think the focus will be on affordable housing in my opinion and there will some scheme or the other that will come up for the affordable housing segment.
Unveiling Unicorn Offices: A new era of boutique workspaces at Marathon Futurex, Lower Parel
Experience the dynamic environment at Unicorn Collection, Marathon Futurex, curated by Marathon Group to foster innovation and growth for entrepreneurs in a prime business district.
Sattva Group targets 85 pc growth in housing sales to Rs 6,500 cr this fiscal: MD Bijay Agarwal
Realty firm Sattva Group is bullish on India's housing market and will launch many projects to achieve 85 per cent growth in sales of residential properties to around Rs 6,500 crore this fiscal, a top company official said. In the 2023-24, Bengaluru-based Sattva Group achieved sales bookings of Rs 3,500 crore.
Maruti Suzuki among 5 auto stock picks from Motilal Oswal
Motilal Oswal predicts subdued growth for the Indian auto sector in June, with declining retails across most segments due to factors like post-election consumer sentiment and heatwave impact. However, they remain optimistic about select OEMs like Maruti Suzuki and Ashok Leyland, and ancillary companies like Craftsman Automation, Happy Forgings, and Samvardhana Motherson International, advocating for micro-strategies to navigate the sector's challenges.
Veedol signs Sourav Ganguly as its brand ambassador
Veedol has a strong presence across all automotive segments, including 2-wheelers, passenger cars, agri and commercial vehicles (both heavy and small). There are products across various performance specifications and price points. Traditionally strong in the 2-wheeler segment with its flagship brand "Take-Off" and in agriculture with "Prima," Veedol is increasingly expanding its presence in the passenger car (PCMO) and commercial vehicle (CV) segments.
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Auto sector sees resilient two-wheeler growth amidst mixed performance in PVs and CVs for June 2024
Wholesale volumes across various segments of the automobile industry in June 2024 are expected to show a subdued trend. This is primarily due to the absence of wedding dates, as stated in an Anand Rathi report. Analysts predict a mixed performance in the market. Two-wheeler (2W) volumes are anticipated to be resilient, while passenger vehicles (PVs) and commercial vehicles (CVs) are expected to see slight declines. Tractor volumes are likely to remain flat.
Affordable housing suffering; luxury continues to show bumper sales: Gulam Zia
Commercial real estate also is doing phenomenally well. If I have to give a few numbers, the last quarter and we saw almost about 14 to 15 million square feet of gross absorption of office space in the country, the top seven-eight markets that we always talk about.
Residential real estate at a 15-yr high; commercial may see best ever year: Anuj Puri
Clearly within the residential, we are seeing luxury doing exceptionally well, affordable unfortunately not doing as well and there is not that much supply that is coming in. But cities like MMR, Mumbai, Bangalore, NCR really leading the pack.
Sattva Group to invest Rs 12,000-14,000 crore in diversification over next three years
“The funding for the initiative will be structured with a combination of equity, debt and sales. Approximately 20% of the funding will be in equity, while the remainder will be sourced from debt and sales proceeds,” he told ET. “Our approach to debt is highly prudent and disciplined. The company's primary focus lies on commercial and residential projects, which form the bulk of our portfolio.”
Demerger to secure synergies across biz verticals, says Tata Motors Chairman N Chandrasekaran
Tata Motors is planning to demerge its existing automotive businesses into two listed entities, a move aimed at enhancing synergies across its Passenger Vehicles (PV) and Jaguar Land Rover (JLR) segments. This step is expected to boost collaborations in electric vehicles (EVs) and autonomous vehicles. Tata Motors Chairman N Chandrasekaran made this announcement at the company's 79th Annual General Meeting on Monday.
Block deals worth over Rs 40,543 crore this week. Indus Towers, HAL, Suzlon Energy among stocks with major action
Despite the Nifty index closing the shortened trading week with a slight increase of 0.4%, significant activity was observed in block deals. Over three dozen companies across various market caps saw block deals worth a total of ₹40,543 crore, involving both buying and selling.
Credit growth up by 19.3%, crosses deposit growth; PVBs outpace PSBs: CareEdge
Scheduled Commercial Banks (SCBs) in India saw a significant 19.3% year-on-year credit growth in the last quarter of FY24, translating to an expansion of ₹26.6 lakh crore, reaching ₹164.3 lakh crore in total credit. This surge was driven by personal loans and lending to NBFCs. Deposit growth lagged at 13.6%, with the credit-to-deposit ratio rising to 79.7%.
Indian automobile industry grows 19 pc to Rs 10.22 lakh cr in FY24: Report
In the two-wheeler segment, India witnessed 10 per cent increase in volume and 13 per cent in value. The three-wheeler segment grew by 16 per cent in volume and 24 per cent in value and the commercial vehicle segment rose by 3 per cent in volume and 7 per cent in value.
Tata Motors to raise commercial vehicle prices by up to 2% from July 1
Tata Motors announced through an exchange filing on Wednesday that it will implement a price hike of up to 2% on its commercial vehicles starting July 1, 2024. This adjustment is a response to rising commodity prices, intended to counter their impact.
May auto retails impacted by heatwave and elections, dip 5.3% MoM: FADA
In May, auto retail sales dropped by 5.28% from the previous month, influenced by the heatwave and the recent Lok Sabha elections, according to FADA. However, annual figures showed a 2.6% increase. Two-wheelers and commercial vehicles saw year-on-year growth, while passenger vehicles and tractors slightly contracted.
Midcap IT companies in India poach talent from industry majors
Midcap IT companies in India are attracting more employees from larger rivals in the past two years. This trend is seen in the technology services sector amidst macroeconomic challenges and a focus on hiring deployable talent.
Tata Motors Finance to be merged with Tata Capital
Tata Motors announced a merger of Tata Motor Finance with Tata Capital, approved by their respective boards. This aligns with Tata Motors' strategy to focus on core businesses and emerging technologies. Tata Capital will issue its equity shares to Tata Motor Finance shareholders, giving Tata Motors a 4.7% stake in the merged entity. Tata Capital, a major NBFC in India, will expand its presence in CV/PV financing, aiming to offer innovative products and digital services. The merger is subject to regulatory approvals and is expected to take 9-12 months to complete, with no adverse impact on customers or creditors.
Tata Motors board okays to incorporate new wholly-owned unit
Tata Motors board approves setting up wholly-owned subsidiary TML Commercial Vehicles Ltd for commercial vehicles business.
Demerger of biz to help commercial vehicle business capitalise on opportunities globally: Tata Motors
Tata Motors is planning to demerge its commercial vehicle (CV) and passenger vehicle (PV) segments into two separate listed entities to better capitalize on global growth opportunities. The CV business and related investments will be housed in one entity, while the PV business, including electric vehicles (EVs), Jaguar Land Rover (JLR) and its related investments, will come under a separate listed entity.
3M India Q4 Results: 'Post-it' maker posts profit rise; shares surge
3M INDIA-RESULTS/'Post-it' maker 3M India posts Q4 profit rise; shares surge
Ashok Leyland to unveil 5-6 new products under LCV segment: MD
Earlier today, Ashok Leyland announced a 16.73 percent rise in consolidated net profit, reaching Rs 933.69 crore in the January-March 2024 quarter, compared to Rs 799.87 crore recorded in the corresponding period of the previous fiscal year.
In the fight between bulls and bears, these set of companies always win: 4 stocks with upside potential of up to 21%
Recently the finance minister, Nirmala Sitharaman spoke about the risk of unchecked explosion of future and option trading. Before that, there was a SEBI study, which mentioned that 90 % of the individuals who trade in future and options ( F&O) end up losing money; only 10% are able to make profit. But there is another side to the story. First is that trade volumes in this segment are only going to rise. Second, what is the common between both the losers and winners? They both brokerage to their stock broker and also pay transaction fees to the stock exchange. So, who is the constant and permanent winner? The stock exchange and the stock broker. Yes, policy makers will bring in more checks, but the hard fact is that those checks will only be partially effective for a short period of time as the turnover in the F&O will continue to rise for the foreseeable future. One can control anything, but not the hope and greed on the street.
Cera Sanitaryware is this week's stock pick; why analysts are bullish
Cera Sanitaryware emphasises innovation, introducing 218 new products in 2023-24, which accounted for 30-35% of its total sales.
PC market grows 2.6% in Jan-March quarter, aided by govt orders: IDC
Laptop and desktop sales in India have grown by 2.6% in Q1 2024, driven by large government procurements and improved consumer sales, according to a report by International Data Corporation. The PC market recorded 3.07 million shipments in January-March, up from 2.99 million in the previous year. The growth was mainly due to 56.9% growth in the government segment, while enterprise orders continued to decline.
PC market grows 2.6% in January-March quarter, aided by govt orders: IDC
According to International Data Corporation’s (IDC) quarterly device tracker, the PC (personal computer) market in India recorded 3.07 million shipments in the January-March period, up from 2.99 million recorded in the corresponding period last year.
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Daimler India to foray into battery electric segment with new gen eCanter
Daimler India Commercial Vehicles announced plans to introduce the all-electric eCanter light duty truck in India within 6-12 months as part of a strategy to decarbonize its product portfolio. Despite coexisting with traditional diesel ICE technologies, the company aims to lead in sustainable transportation by focusing on excellence, customer acceptance, and a supportive policy framework.
Making steady progress on commercial PC business segment: Asus India executive
Dinesh Sharma, vice-president, commercial PC and smartphone, system business group, ASUS India, told PTI that the company has made rapid strides in the consumer PC and gaming PC business with engineering and technology innovation, and is now bringing the same capability set to design and provide business-oriented commercial PCs.
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