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Prestige Estates Projects Ltd aims to achieve an annual revenue of Rs 10,000 crore from the Mumbai and Pune markets, which will account for about 20% of its targeted group revenue by 2030. CEO Tariq Ahmed outlined plans for both residential and commercial developments, including the Prestige Jasdan Classic project in Mahalakshmi and the Siesta project in Mulund, expected to generate Rs 2,500 crore. The company is focused on expanding its footprint in western India, emphasizing redevelopment and integrated townships.
NHC Foods Ltd has launched a Rs. 47.42 crore Rights Issue, open for subscription from December 5 to December 18, 2024, offering shares at Rs. 1 each, significantly lower than the market price of Rs. 2.76. The rights entitlement ratio is set at 4:1, with the last date for on-market renunciation on December 12, 2024. For H1FY25, the company reported a net profit of Rs. 4.05 crore, up from Rs. 2.35 crore in FY24, with revenues of Rs. 140.67 crore compared to Rs. 211.30 crore for the full year.
Vishal Mega Mart is set to launch its Rs 8,000 crore IPO for public subscription from December 11 to December 13, with a price band of Rs 74-78 per share. The shares are currently trading at a grey market premium of about 30%, indicating a potential listing gain of 30.77%. The IPO follows a week with 11 public issues opening for subscription, including Mobikwik and IGI.
Kia India will increase prices of its entire model range by up to 2% starting January 1, 2025, due to rising commodity prices and supply chain costs. The company has sold 1.6 million units in India and abroad, emphasizing its commitment to delivering high-quality, technologically advanced vehicles.
Nifty has declined for the second consecutive day but remains above the 24,600 mark. Attention is focused on Ceat and Godrej Consumer as market movements continue to unfold. Investors are encouraged to stay updated on relevant transactions and market developments.
Diesel consumption in November rose by 6.8% month-on-month to 8,165 tonnes, driven by the festival season and increased agricultural demand, marking an 8.5% increase from the previous year. This uptick follows a period of low demand due to heavy rains and slower economic growth, with GDP growth at a seven-quarter low of 5.4%. Additionally, a shift in consumption patterns is noted, as petrol demand rises alongside the expanding middle class.
Rishi Parti, founder-director of Gurgaon-based Info-X Software Technology, has made headlines with the purchase of a Rs 190 crore penthouse in DLF's The Camellias, potentially the most expensive high-rise condominium deal in NCR. The 16,290 square feet flat was acquired at Rs 1.8 lakh per square foot, with a stamp duty of Rs 13 crore, marking a significant milestone in India's real estate market.Founded in 2001 with a three-member team, Info-X has grown to 150 professionals, offering transportation solutions and customizable software across 15 countries from its 20,000-square-foot facility in Gurgaon.
Adani Group plans to invest over Rs 7.5 lakh crore in Rajasthan, focusing on sectors like renewable energy and cement, as announced by Karan Adani, managing director of Adani Ports. More than 50% of this investment will occur within the next five years, including the establishment of four new cement plants with a capacity of 6 million tonnes per annum. Additionally, the group aims to create the world's largest integrated green energy ecosystem, targeting 100 gigawatts of renewable energy.
Luxury car manufacturers BMW India and Audi will increase prices by up to 3% starting January 1, 2025, due to rising input and transportation costs. Other automakers, including Maruti Suzuki, Hyundai, and Mahindra, are also implementing price hikes ranging from 1-4% across their model ranges to offset increased operational expenses.
Indian conglomerate Adani Group plans to invest over 7.5 trillion rupees ($88.53 billion) in various sectors, including renewable energy and cement, in Rajasthan. Karan Adani, managing director of Adani Ports, announced this significant investment on Monday.
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