DEVELOPMENT MANAGEMENT
MMRDA inks Rs 850-crore urban infra financing pact with German development bank KfW
The funds procured from KfW and MMRDA's resources will be primarily allocated towards various sustainable development projects within and around the Mumbai Metropolitan Region. These initiatives include the development of green corridors, solid waste management systems, recycling and reuse facilities, and the promotion of renewable energy solutions to address environmental concerns and enhancing the quality of life for residents in the bustling metropolitan area.
View: India's path to developed economy status hinges on natural resource management
India's natural resources sector faces import challenges but holds potential for growth and self-sufficiency. Strategic management, revenue reinvestment, and resource diversification can drive economic development and sustainability, aligning with global trends towards renewable energy and efficient resource utilization.
Here is how you can reduce your chances of developing Brain cancer
Experts have pointed out that it is important to lead a healthy lifestyle to reduce the chances of getting diagnosed with brain cancer. These methods also lead to an overall good quality life.
Prestige One appoints Colliers Project Leaders as project manager
This strategic agreement underscores Prestige One's commitment to maintaining its top position in the real estate market by leveraging the expertise of renowned global firms.
Thanks to proactive planning, no power crisis in state, says Karnataka Energy Ministry
Karnataka's strategic use of renewable and non-renewable energy resources has enabled it to meet rising energy demands, especially during peak summer months, according to state Energy Minister K J George. The state achieved record power consumption levels between February and May this year, with peak demand reaching 17,220 MW on February 12 and daily consumption averaging 332 million units on April 5. This success is attributed to increased generation capacity, renewable energy integration, efficient grid management, and demand-side management initiatives. Additionally, the state negotiated power exchanges with other states to manage excess demand, showcasing Karnataka's commitment to sustainable energy practices.
Realty Co Total Environment has raised Rs 1600 crore from top lenders
Total Environment has paid off approximately ₹2,070 crore of debt raised from top-tier financial institutions, driven by robust residential sales.
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ONGC seeks to engage global oil majors to boost output at Mumbai High field
State-owned Oil and Natural Gas Corporation (ONGC) has issued an international tender to find a technical service provider to boost production from its aging Mumbai High field in the Arabian Sea. This field, operational since 1976, contributes significantly to India's oil output but is now in decline. ONGC seeks a global partner to implement advanced reservoir management and operational practices over a 10-year contract, extendable by five years
Be a contrarian in such times, if they have strong parent: 5 midcap stocks belonging to large industrial houses with upside potential of up to 49%
At a time when the market is digesting an election result which it did not expect. Questions are bound to come to about what should be done with mid-cap stocks. Is there a possibility that we might see more corrections ? The answer is yes. More than anything else, the reason for the correction would be the valuations and the fact that there was and still froth in some segments of the market. Should you buy mid-caps, the answer is yes. The question is what are you buying and for what time frame. And the bigger question is does the management have a proven track record that if tough times comes then it can steer the company through a tough time. If these tick marks are done, then ignore the political noise which all the political analysts are going to bring on table and surely there is no dearth of them. Focus on what is the business and who is running that business.
No need for big rejig in portfolio; wait for dust to settle down: Sunil Singhania
So, it is 10% lower than what was expected. I think what has happened in the interim is that the exit polls raised phenomenal expectations and even now what you are seeing as a correction is largely what we went up on Monday.
Mirae Asset Mutual Fund files draft document with Sebi for Nifty EV & New Age Automotive ETF
Mirae Asset Mutual Fund has filed a draft document with SEBI for India's first ETF focused on Electric Vehicles (EV) and New Age Automotive. The fund will track Nifty EV & New Age Automotive Index.
Beyond public market: The growing appeal of alternatives in India
The asset management industry in India has witnessed substantial growth, particularly in alternatives like AIFs, InvITs, and REITs. Private market alternatives offer access to previously unavailable asset classes, but investors should carefully assess asset managers for rigorous evaluation processes and proven track records.
PFRDA reviews strategies for expansion and distribution of NPS
Almost 63% of the enrolments in the voluntary segment (UoS-All Citizen) were sourced through the extensive efforts of PoPs, which include banks, NBFCs, stockbroking firms, fintech companies and pension funds, it said. "During the year, 3,112 corporates got registered under the NPS corporate model, which has been the highest number so far," the statement said.
Ztech India IPO opens on May 29. Check price band, GMP and other details
Ztech India IPO opens on May 29 with a price band of Rs 104-110 per share. The company aims to raise Rs. 37.30 crore from a fresh issue of 33,91,200 equity shares.
Satin Creditcare Network raises Rs 332 crore from Dutch development bank
Satin's assets under management grew 34% year-on-year to Rs 10593 crore as of the end of March. The lender is aiming to grow its portfolio by 25% in the current fiscal. The lender disbursed Rs 9,691 crore during FY24, the highest in a year so far, while it added 6.3 lakh borrowers taking the total count to 34.7 lakh.
IRDAI introduces new corporate governance regulations for insurers
The Insurance Regulatory and Development Authority of India (IRDAI) has mandated that insurance companies must now seek prior approval for appointing their Board Chairperson. Current Chairpersons must comply with this regulation by March 31, 2026, or by the end of their terms, whichever comes first. IRDAI has introduced new corporate governance rules to prevent conflicts of interest in key management roles and to ensure that no individual holds multiple significant positions.
Strong demand tailwinds are for all the players: 5 small and midcap real-estate stocks with upside potential of up to 34%
Four years ago, the real estate industry was defined by excess inventory, over leveraged balance sheets and weak demand. Today, a housing project getting launched is getting sold within a few days. The average prices on a per square ft basis have inched upward very sharply in the last one year and still there is no dearth of demand. Now the question is whether this kind of sharp rise in demand is having an impact only on large players or also on mid-sized companies which are focussed in a region only. The fact is that in the case of sectors like real estate, when the tide of demand changes, it changes for every player, be it large or medium. Yes, when it comes to medium-sized players it would be important to look at the players where they have a track record of implementing projects on time. Delivering the project on time is key metrics which determines whether the company which is mid-sized today will become large or not in years to come. As the large ones have seen a sharp rise in the valuations, the focus of the street is now also on mid-sized by well managed companies.
Myth Debunking 101: ‘Receiving feedback is a sign of failure’
Feedback is often misunderstood as criticism, hindering professional growth. Overcoming psychological barriers and seeking feedback for skill development is crucial. Experts suggest leveraging feedback to identify areas of improvement and embracing new technologies. Stories of success highlight the transformative power of feedback when embraced with an open mind.
IRDAI relaxes procedural norms on expense of management, share transfer
IRDAI introduces new Master Circular, streamlining application procedures, ESOPs compliance, share transfers, and specifying timelines for prior approval and amalgamation guidelines. Reporting for capital forms and lock-in periods clarified.
JPMorgan says every new hire will get training for AI
Incoming asset-and wealth-management staff to get instruction; AI has saved the division time, helped grow revenue, says Erdoes
Gold hovers near record high on growing rate-cut bets
Spot gold was up 0.1% at $2,428.14 per ounce, as of 0110 GMT. Bullion hit a record high of 2,449.89 on Monday.
BJP's Odisha face & BJD's No. 2 face off in Sambalpur
Sambalpur, a significant Lok Sabha constituency in Odisha, is gearing up for a competitive showdown between BJP's Dharmendra Pradhan and Biju Janata Dal's Pranab Prakash Das. The campaign dynamics involve key figures like Amit Shah, VK Pandian, and local voter Subikash Badhei.
Fusion MicroFinance to raise $25 mn from DFC
Fusion MicroFinance is raising $25 million from the US International Development Finance Corporation (DFC) for growth capital, following a $20 million loan facility. The micro loan lender has already received $20 million from DFC. Fusion, founded in 2010, has assets under management of Rs 11,476 crore.
Hyderabad pre monsoon showers bring flooding, traffic woes; IMD warns of more showers
Heavy rains brought relief from the heat in Hyderabad but also caused flooding in several areas. The Telangana State Development Planning Society reported over 51 mm of rainfall, with Yousfuguda recording the highest at 51.3 mm. The Indian Meteorological Department predicted more rainfall for the evening and night, raising concerns for the IPL match. Alerts have been issued, urging people to monitor the weather and be prepared to move to safer locations. The IMD also warned of moderate rain and thundershowers in GHMC limits. Residents are advised to stay updated with weather forecasts and take precautions.
Efkon-Strabag join hands with leading IITs
Efkon-Strabag, a prominent provider of smart infrastructure solutions in India, has formed partnerships with renowned institutions including IIT Bombay, IIT Mandi, and IIT Roorkee to spearhead advancements in transportation systems, landslide management, and road safety awareness. Collaborating with IIT Bombay, the focus is on enhancing knowledge management, joint projects, and engagement activities, with an emphasis on innovation in transportation systems through research on Intelligent Transportation Systems (ITS) and skill-building programs for students.
ArisUnitern enters into a development management agreement with Essem 18’s Real Estate Portfolio
ArisUnitern, which is one of the pioneers in development management model, has secured eight projects in the last one-year, recorded sales exceeding Rs 300 crore within the last six months and raised over 300 crores across 7 deals and supplied materials worth Rs. 150 Crores to these clients. This reflects the mushrooming of the demand for specialised service providers in the real estate industry.
Google I/O 2024 update: Android 15 Beta 2 release date confirmed; check expected features
This year's Google I/O 2024 focused on groundbreaking AI developments alongside the upcoming Android 15 Beta 2 release. Google showcased Gemini AI advancements and teased Android 15's features like enhanced display, NFC transactions, screen sharing, satellite network support, camera controls, and more. Despite the AI focus, Android enthusiasts eagerly await Beta 2, highlighting Google's ongoing plans for Android.
ASK Property Fund exits from Naiknavare’s Pune project with 21% IRR, 2x multiple
ASK Property Fund exits Rs 156 crore investment from Pune's Naiknavare Developers' Avon Vista project with 21% IRR and plans for more investments in Pune and Mumbai.
Prestige Estates CEO resigns, co rejigs senior management
Realty developer Prestige Estates has reorganized its senior management team in response to the resignation of its Chief Executive Officer (CEO), Venkata Narayana K, who is departing to establish a realty fund. Venkat took on the position of CEO at Prestige Estates in August 2017, following a 20-year tenure with the company during which he also served as Chief Financial Officer and Company Secretary.
Government gains PSU muscle as stocks climb peaks
The value had touched a high of 22% of total market capitalisation of listed firms in June 2009, dropping to a low of 5.1% in September 2020 before doubling since then, according to data from primeinfobase.com. Re-ratings amid large valuation discounts, high dividend yields, record cash flows and news of possible privatisation triggered a sharp rally in public sector companies over the last three years.
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