KOLKATA COMMERCIAL AREA UPDATES
Bengaluru Circular Rail Link project work starts. Key updates, routes and other details
The 287-km Bengaluru Circular Rail Link aims to reduce congestion and enhance connectivity around the city's outskirts with a Rs 23,000 crore budget. The state government will cover land acquisition costs, while the Railways handle construction. The project, crucial for complementing the Bengaluru Suburban Rail Project, is progressing with the detailed project report for Devanahalli to Doddaballapur nearly complete.
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.
Politically correct stocks: Government push on increasing rural income may act as tailwind for these 4 stocks
While the government’s decision to push for policies which help in increasing rural incomes has been in place for some time. But given the fact that any change in the rural income matrix is a time consuming process, there can be a mismatch of expectations and times. There is a high probability that in the coming years there could be more policy push to increase rural incomes. Yes, the reason could be that the government wants to get its political capital back. Whatever might be the reason, the stakeholders of the systems are likely to be benefited. Now traditionally we think it is agriculture which will be the focus, but there is more to the rural economy, beside agriculture. We take a look at 4 companies where fortunes are tied to agriculture and other parts of the rural income.
West Bengal Exit Polls 2024 Live Updates: BJP to dominate three-way fight against TMC, Cong, predicts exit polls
West Bengal 2024 Exit Polls Live Updates: Kolkata and its surrounding regions, including the Sunderbans, participated in the final phase of the Lok Sabha elections on June 1. Historically, the Trinamool Congress (TMC) has dominated these nine constituencies, with the BJP struggling to make significant inroads. Dum Dum has been the only exception where the BJP has found some success. The exit poll numbers will be released at 6:30 pm, following the conclusion of this last phase of voting.
Cyclone 'Remal' to intensify, set to hit West Bengal coasts by May 26 midnight, says IMD scientist
IMD scientist Somenath Dutta stated that the cyclone is currently moving towards the North Bay at a speed of 13 km/hr, with a wind speed of 95-105 km/hr. By the time it reaches the region between Sagar Island and Khepupara, the wind speed is predicted to increase to 110-120 km/hr, gusting up to 135 km/hr.
Cyclone Remal claims six lives in West Bengal, leaves trail of destruction
Severe cyclonic storm 'Remal' made landfall between Bangladesh and West Bengal, bringing gusts up to 135 km/h and heavy rains that flooded homes and farmland. The storm caused significant destruction, including flattened homes, uprooted trees, and downed electric poles. Over 110,000 people were evacuated from vulnerable areas. Prime Minister Narendra Modi and West Bengal Governor Dr. CV Ananda Bose reviewed the response. The storm disrupted air, rail, and road transport, while the Indian Coast Guard and Navy prepared relief operations. The weather is expected to worsen with increased winds and rainfall in southern Bengal.
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Cyclone 'Remal' weakens, further diminishment expected by evening: NDRF
Severe cyclonic storm 'Remal' has weakened post-landfall and is expected to become a deep depression by evening, as per NDRF and IMD updates. Wind speed decreased from 110-120 km/hr during landfall to 60-70 km/hr. One death has been reported in Kolkata due to a wall collapse.
Indian Coast Guard closely monitors landfall of Cyclone Remal with disaster response team, ships, hovercraft on standby
The Indian Coast Guard is closely monitoring the landfall of cyclone 'Remal,' with disaster response teams, ships, and hovercraft on standby for post-impact challenges. People are urged to follow official advisories and stay safe. Heavy rain has caused waterlogging in parts of Kolkata, with reports of uprooted trees. The cyclone is expected to weaken into a Cyclonic Storm as it moves north-northeastwards. Prime Minister Narendra Modi has instructed the Union Home Ministry to monitor the situation and provide necessary assistance for restoration.
Cyclone Remal updates: Bangladesh evacuates hundreds of thousands as a severe cyclone approaches from the Bay of Bengal
On Sunday, Bangladesh intensified its evacuation efforts in vulnerable areas in anticipation of the severe cyclonic storm 'Remal,' which is expected to make landfall by evening or midnight. The storm is forecasted to bring a significant tidal surge and heavy rainfall to the coastal districts of Satkhira and Cox's Bazar.
Cyclone Remal to make landfall tonight with 135 kmph winds, coastal areas of Bengal and Bangladesh on high alert
Cyclone Remal, the first pre-monsoon cyclone in the Bay of Bengal this season, is expected to make landfall between the coasts of West Bengal and Bangladesh. The India Meteorological Department (IMD) has predicted extremely heavy rainfall and issued alerts for several districts. Precautionary measures are being taken, including the suspension of airport and port operations, and fishermen have been advised to stay away from the area. Authorities are on high alert, and people in the affected areas are urged to stay indoors and safe.
Cyclone Remal: Cyclone to hit Bangladesh, West Bengal coasts; Safety measures advised
Cyclone Remal is set to strike the coasts of Bangladesh and West Bengal, prompting authorities to issue warnings and advice on safety measures. The India Meteorological Department predicts the cyclone to intensify before making landfall, potentially causing heavy rainfall, strong winds, and flooding. Residents are urged to take precautions and follow guidelines to ensure their safety.
Cyclone Remal: A severe cyclone is heading towards India; here's all you need to know
Cyclone Remal: Bay of Bengal is currently experiencing a cyclone, 'Remal', which is expected to make landfall on May 26 over West Bengal and Odisha. The India Meteorological Department predicts that the cyclone will concentrate into a severe cyclonic storm and make landfall between Sagar island in West Bengal and Khepupara in Bangladesh around May 26 midnight. The cyclone is expected to cross West Bengal and Bangladesh coasts, with coastal districts of West Bengal and Kolkata, South and North 24 Parganas, Purba Medinipur, and Howrah districts expected to see heavy to very heavy rain on May 26 and 27.
Puravankara Q4 Results: Loss narrows to Rs 7 crore YoY; revenue shoots up 112% YoY
The firm has launched 12 projects with a saleable area of 9.47 million square feet, reinforcing its expansion into high- potential micro-markets for the fourth quarter (Q4FY24) ending March 31, 2024.
Brookfield India REIT inks pact to acquire Bharti JV stake, funding through listed units
Brookfield India REIT acquires 50% stake in Bharti Enterprises' real estate joint venture in New Delhi, adding Grade A assets and increasing operating area by 16%. Ankur Gupta, Managing Partner at Brookfield, emphasizes the diverse portfolio.
Housing prices in this Bengaluru area jumped 32% in Q1; know how much property prices have risen in your city
Average housing prices in Bengaluru have increased by 19% year-on-year (YoY) in the January-March quarter of 2024. It was the highest increase in residential prices among the eight cities, according to a report released by CREDAI and Colliers Liases Foras. Check how much property price has risen in your city
Brookfield India REIT set to buy Bharti’s nearly 50% stake in realty JV
Last year, Brookfield Asset Management had closed the transaction picking up around 50% stake in Bharti Enterprises’ four commercial properties in Delhi-NCR. Following this deal, Canadian institutional investor Brookfield’s listed REIT in India and Brookfield Asset Management will together own the joint venture known as Rostrum Realty.
Home First eyes $75 million fundraise from US DFC
The company is in the final leg of getting all the regulatory approvals from the US for the fundraise. The lender's marginal cost of borrowing for the funds raised during the quarter to March 31, 2024 was 8.7%. The average cost of borrowing for FY24 was 8.2%, up 80 basis points year-on-year.
Utkarsh SFB Q4 Results:Net profit jumps 19% YoY to Rs 160 crore on higher total income
The net profit was Rs 134 crore in the year-ago period. Its operating profit was 35% higher at Rs 282 crore against Rs 208 crore in the year-ago quarter, supported by a 32% rise in net interest income at Rs 540 crore.
Delhi hotels far from being able to benefit from rising big-ticket events business
Ayush Dabas, owner of Welcomhotel by ITC Hotels in Dwarka, Delhi, is eager to expand his property's facilities to meet the increasing demand for MICE events. However, existing norms make it unfeasible for hotels to increase their floor area ratio (FAR) due to restrictions on parking and ground coverage. This limitation, coupled with high FAR rates for hotels compared to commercial establishments, has hindered the growth of hotel supply in Delhi.
Doordarshan TV anchor faints live on air while reading heatwave updates in Bengal
A Doordarshan anchor, Lopamudra Sinha, fainted while delivering heatwave updates live on air in Kolkata. Sinha attributed her fainting spell to intense heat and a sudden drop in blood pressure. Despite feeling unwell and parched before the broadcast, she rarely keeps a water bottle with her during broadcasts. Sinha's collapse highlighted the ongoing severe heatwave affecting parts of Odisha, Jharkhand, and West Bengal, with temperatures soaring above normal levels. She advised viewers to take precautions amid the scorching heat.
Here's how Bengaluru's water crisis has affected real estate sales as per Knight Frank report
Housing sales in Bengaluru have slightly decreased by 2% to 13,133 units compared to 13,390 units last year, mainly due to reduced sales in the affordable housing category. The office space demand in the IT city remained steady at 3.5 million square feet, according to a report by Knight Frank. Sales in the less than ₹50 lakh housing segment dropped by almost 65% to 70%, while sales in the ₹50 lakh-₹1 crore segment dipped by 7%. However, sales of houses in the more than ₹1 crore segment increased by almost 50%.
IHCL to open SeleQtions resort in partnership with Merlin Group
IBIZA – an IHCL SeleQtions will have 130 keys, including eight suites, spread over 11 acres in Kriparampur, a popular tourist destination. The property will also boast a 5,400 sq. ft. ballroom, conference halls, pre-function areas, meeting rooms and scenic outdoor venues.
Why Deven Choksey would prefer Adani stocks to Birla stocks in 2024
Deven Choksey favours the Adani group for 2024, citing their strong EBITDA growth, reduced debt ratio, and cash generation for expansion, especially in infrastructure assets like road, port, power, and commodity segments. The equations are favourable even from the timing point of view. The Adani Group is going to perform better going forward.
Indian Navy rescues hijacked vessel MV Ruen, safely retrieves crew members from 35 pirates
The Indian Navy thwarted an attempt by Somali pirates to use a hijacked merchant vessel as a base for piracy attacks. The operation, led by INS Kolkata and marine commandos, resulted in the apprehension of 35 pirates and the safe evacuation of 17 crew members. The vessel was intercepted, and despite some pirates opening fire, the Navy used minimal force necessary to neutralise the threat. The successful operation demonstrates the Indian Navy's commitment to maritime security.
India's first underwater metro train services begin in Kolkata, commuters ecstatic
Kolkata's underwater metro service inaugurated with jubilant passengers. Excitement among commuters from Howrah Maidan and Esplanade stations. Suburban areas also partake in the historic event, hoping for a seamless commute experience.
Manipur launches Ukhrul-Imphal helicopter service to boost connectivity in hill districts
The Manipur government launches Manipur Helicopter Service, expanding its routes and promoting travel, transportation, commercial activities, and development. The establishment of District Transport Offices (DTOs) facilitates ease of doing business, while the DBT ensures transparency and funds flow. Multiple projects and security measures contribute to Manipur's progress.
Two dead in triple knife attack at Halifax's Commercial Street
"This is an extremely serious incident which has resulted in the death of two young men and injury to another person. We have specialist officers supporting both of their families and are determined to get answers for them and ensure that the person or people responsible for the incident face consequences for their actions."
Housing prices in this Delhi-NCR area jumped 46% in Q2; know how much property prices have risen in your city
Housing prices in Kolkata have increased by 15 per cent year-on-year (YoY) in the April-June quarter of 2023. It was the highest increase in residential prices among the eight cities, according to a report released by CREDAI and Colliers Liases Foras. Check how much property price has risen in your city
Realty hot spot: Prominent housing hub in Kolkata
Garia-Patuli is well connected to the city, other suburbs and key employment zones.
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