KOLKATA MARKET
Potato traders threaten strike from Tuesday if West Bengal doesn't allow selling to other states
Potato traders in West Bengal threaten a strike over restrictions on selling to other states, imposed to control local prices. The wholesale price is Rs 27 per kg but retails at Rs 35-40 per kg. Neighbouring states like Odisha and Jharkhand face rising prices and urge negotiations to alleviate the situation.
To ¡®Diljit Da¡¯ with love: Diljit Dosanjh travels in taxi, visits Dakshineswar Temple before Kolkata concert, video goes viral
Punjabi music icon Diljit Dosanjh has landed in Kolkata for the eagerly awaited Kolkata stop of his ¡°Dil-Luminati Tour.¡± While his much-anticipated performance is slated for November 30, the singer chose to arrive early, allowing himself three days to delve into the city¡¯s rich culture and renowned landmarks. On Friday, Diljit treated fans to a reel on Instagram, providing a sneak peek into his explorations of the "City of Joy."
In West Bengal's largest real estate deal, DLF JV firm sells IT park for Rs 637 cr to Primarc, RDB
DLF Cyber City Developers Ltd has sold Kolkata Tech Park 1, an IT park in Kolkata, to Primarc and RDB Group for Rs 637 crore. The transaction, which is the largest real estate deal in West Bengal, enhances shareholder value and supports Bengal's tech ecosystem.
Godrej Properties shares jump over 2% as co launches QIP to raise Rs 6,000 crore
Godrej Properties launched a qualified institutional placement to raise funds. The company aims to secure Rs 6,000 crore. It also acquired land in Kolkata. The land will be used for a residential project. The project has a potential revenue of Rs 500 crore. Godrej Properties saw strong sales bookings growth this year.
Rate cuts likely to optimise home affordability in next 12 months, Kolkata most affordable: Report
A JLL India study projects improved housing affordability in India by 2025, driven by potential interest rate cuts. Mumbai and Pune are expected to reach near-peak affordability, while Kolkata will likely remain the most affordable. Sales are predicted to continue rising, reaching new highs by 2025, despite affordability challenges in Delhi NCR and Bengaluru.
Godrej Properties shares to remain in focus after co acquires 53 acre land in Kolkata
Godrej Properties has acquired a 53-acre land parcel in Kolkata, aiming to develop a residential plotted project with a revenue potential of Rs 500 crore. The project, located in Joka, is expected to offer 1.3 million square feet of saleable area. Godrej Properties' shares closed higher on the BSE following the announcement.
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Tropical Agrosystem to start work on Kharagpur unit in Dec
Tropical Agrosystem India Pvt Ltd is set to begin construction of a new manufacturing unit in Kharagpur in December. The facility, scheduled to be operational by the second quarter of the next fiscal year, will cater to the eastern markets and enhance supply chain efficiency.
Godrej buys 53-acre land in Kolkata to develop Rs 500 crore residential project
Godrej Properties has purchased a 53-acre plot in Kolkata's Joka neighborhood with plans to create a residential development. The project is anticipated to bring in about Rs 500 crore in revenue and span an estimated 1.3 million square feet of saleable space.
Great Goaing: Goa is struggling to cope with the aftereffects of overtourism, but you cannot write it off
Goa's tourism industry is witnessing a resurgence, with domestic arrivals projected to reach record highs. Despite concerns about overtourism and its impact on infrastructure and the environment, the state remains a popular destination, attracting both domestic and international travelers.
ED raids multiple Kolkata locations in multi-crore lottery fraud probe
The Enforcement Directorate (ED) conducted raids in Kolkata and its surrounding areas in connection with an alleged multi-crore lottery scam involving financial fraud and money laundering. The raids targeted a lottery-ticket printing factory, offices of lottery agents, and residences. The ED is also investigating tax evasion and illegal diversion of funds.
Youth-centric brands thank Shah Rukh Khan for not smoking
Shah Rukh Khan, celebrating his 59th birthday, announced quitting smoking, potentially attracting youth-centric brands. This decision is praised by existing partners, boosting his image and prompting ad strategy revisions. Despite being India's highest-paid actor, Khan's brand value previously lagged, but his recent box office successes have improved his ranking.
Haldiram Bhujiwala raises Rs 235 crore
Snacks maker Haldiram Bhujiwala on Thursday said it has raised Rs 235 crore from Pantomath's Bharat Value Fund (BVF) in lieu of a minority stake through private placement.
Jewellery brands are on expansion mode in East India
Manik Chand Jewellers is expanding its presence in East India with two new showrooms in Jorhat and Kolkata by 2025. The brand sees strong potential in gold as a stable investment and aims to capitalize on its growing demand in the region.
Merlin Group to invest Rs 8,000 crore over the next 8 years
Merlin Group aims for Rs 20,000 crore in sales over the next 7-8 years, supported by an Rs 8,000 crore investment. They plan to develop 20 million square feet of real estate, increasing annual revenue from Rs 1,500 crore to over Rs 2,500 crore by FY28. The group is rebranding to align with their growth strategy.
Air India Express to operate Kolkata-Port Blair double daily flights from Dec 1
Air India Express has announced new direct flights from Port Blair to Kolkata beginning December 1. With double daily flights each way, the airline also launches routes from Jammu to Delhi and Srinagar, as well as from Port Blair to Bengaluru, expanding its domestic network.
Temasek-backed Manipal Health buys hospital in Mumbai¡¯s Andheri for Rs 415 cr
Manipal Hospitals, backed by Temasek Holdings, has acquired a five-storey hospital property in Mumbai's Andheri for Rs 415 crore. This property spans 2.61 acres and has a built-up area of 225,000 sq ft. This move aligns with the trend of Indian healthcare companies investing in properties to expand their operations and market presence.
Doctors' protests hit Kolkata's restaurants, revenue slump
Kolkata's food and beverage industry has faced a notable drop in sales due to protests over a tragic incident at RG Kar Hospital. Business owners have noted a decrease in customer turnout but are cautiously hopeful about a rebound during the Durga Puja festivities. The protests continue to affect various parts of the city.
Malaysia Airlines to restart Kuala Lumpur-Kolkata direct flights from Dec 2
Malaysia Airlines is set to resume direct flights between Kuala Lumpur and Kolkata from December 2 after suspending the route in 2006. The airline will operate five weekly flights with Boeing 737-800 aircraft, adding to its existing 71 weekly flights to India, thereby enhancing its network in this key market.
Six junior Bengal doctors start fast until death
The West Bengal Junior Doctor's Front (WBJDF) members have announced a fast unto death after the government failed to respond to their demands. Despite facing pressure from police and administration, six doctors will participate in the fast while continuing their work in hospitals. Their protest is currently facing restrictions due to potential inconvenience to the public, especially during the festive Durga Puja period.
Property prices in this Bengaluru area jumped by 90% in 5 years; how much housing price has risen in your city
As per ANAROCK data, the top seven cities collectively saw over 44% of price appreciation in the last five years. At a city level, Hyderabad recorded the highest jump of 64% between 2019 and H1 2024, followed by Bengaluru with a 57% increase. The lowest price growth of 25% was seen in Kolkata.
Rahee Infratech files IPO papers with Sebi; aims to raise Rs 420 crore via fresh issue
Proceeds from the fresh issue to the extent of Rs 50 crore will be utilised for the purchase of machinery, equipment and vehicles; Rs 280 crore for funding the working capital requirements of the company and the rest for general corporate purposes.
Kolkata-based Rahee Infratech files DRHP for IPO
Rahee Infratech Limited, based in Kolkata, has submitted its draft red herring prospectus to SEBI for an IPO. The company aims to raise funds through a mix of fresh issues and an offer for sale. Proceeds will fund capital expenditure, working capital, and general corporate purposes. Currently, the company is actively involved in several bridge and track projects across India.
Kolkata-based Vikram Solar files DRHP for IPO
Kolkata-based Vikram Solar, a prominent solar photovoltaic module manufacturer in India, has submitted its draft red herring prospectus (DRHP) to SEBI for an IPO. With over 15 years of industry experience, the company plans to raise up to Rs 1,500 crore through fresh share issues, along with an OFS of up to 17.45 million equity shares by its promoter group.
Vi set to ink ?16,500-crore network gear deals with Ericsson, Samsung
Vodafone Idea will finalize deals with Ericsson and Samsung worth ?16,500 crore this week. These deals will be for 4G and 5G network expansion. Ericsson will supply equipment for 10 circles, while Samsung will handle three circles. Vi recently signed a major deal with Nokia as well. These contracts aim to enhance Vi's market competitiveness.
Kolkata property registration rebounds, up 50% annually in August 2024
Residential property registrations in Kolkata hit a two-year high with 5,410 apartments registered in August 2024. This marks the highest number of registrations this year, despite the withdrawal of government incentives. The market saw a significant rebound, reflecting renewed confidence among homebuyers and a notable demand for smaller units up to 500 sq ft.
Mauritius invites Indian SMEs to leverage duty-free export benefit under AGOA
Indian SMEs are being invited by Mauritius to establish units on the island to benefit from duty-free exports under the African Growth and Opportunity Act (AGOA). High Commissioner Haymandoyal Dillum emphasized the potential in the US market and encouraged the leather industry to explore value-added opportunities. Mauritius is also exploring local currency trade with India.
Bangla Bandh August 28: Schools, colleges, offices, banks, markets closed? Here is what's closed, what's open and bandh timings
Bangla Bandh Tomorrow: BJP Bengal called a 12-hour bandh to protest alleged police atrocities on students demonstrating against a recent doctor¡¯s rape and murder in Kolkata. Student protests turned chaotic as police clashed with demonstrators. Essential services are expected to function, although markets may close. The disturbances mainly occurred around the Nabanna Secretariat, prompting heavy police deployment.
Ahmedabad, Pune, Kolkata most affordable housing markets in India
House purchase affordability in India's top eight property markets remained stable in the first half of 2024, according to Knight Frank India¡¯s Affordability Index. This stability is attributed to steady interest rates since the end of 2023. Ahmedabad was the most affordable city with an Equated Monthly Instalment (EMI) to income ratio of 21% for an average household.
Kolkata-based Suraksha Diagnostic files IPO draft papers with Sebi
Suraksha Diagnostic Limited has filed the draft red herring prospectus (DRHP) with capital markets regulator Securities and Exchange Board of India (SEBI) to float an initial public offering (IPO) which will be an offer for sale (OFS).
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