City Chennai Financial News

₹15,000 crore in Gurugram during the second half of this financial year, news agency PTI quoted its Managing Director Ashok Kumar Tyagi as saying. After the success of sales of ₹8,000 crore worth of flats within three days in February in its new project 'The Arbour' at Gurugram, Tyagi said the company has set a target to achieve sales bookings of ₹13,000 crore in this fiscal year and hopes to exceed the number. DLF posted sales bookings of ₹15,058 crore during the 2022-23 financial year, which is a more than two-fold increase from ₹7,273 crore in the previous year.

Priyank Kharge on Sunday discussed rolling out free public wifi zones in Bengaluru. “We plan to have about 5,000 public hotspots in Bengaluru,” Kharge told ET, saying it was a project he initiated as IT/BT Minister over five years ago, but was still stuck where it was. “We will start talking to telecom service as well as broadband service providers,” the IT/BT Minister said, adding that the government planned to roll it out by December. The long pending project is part of the Digital Karnataka goal, aiming to provide wifi access to everyone. With no investment from the government, the earlier plan was to give data free for the first 30 minutes or an hour and charge for use beyond that. In November 2019, the BBMP and ACT Fibernet signed an MoU to make public wifi available in nine months, but it remains a non-starter.

Tamil Nadu Chief Minister M.K. Stalin said that the next INDIA meeting will announce crucial decisions concerning the future political moves. He was speaking at a function in Chennai on Sunday.

Madurai train accident: Forensic experts on 27 August are carrying out examination of the train coach that caught fire at the Madurai railway station yesterday. The Southern Railway said that the fire was triggered by an “illegally smuggled gas cylinder". In an official statement, Southern Railways Chief Public Relations Officer B Guganesan said the fire broke out at 5.15 am in a private party coach at the Madurai yard and the blaze was put out by 7.15 am.

Chennai in the 1980s might have seemed an unlikely place to sample kvass and kimchi. Yet for one evening every year the Russian drink brewed from bread and the spicy fermented Korean cabbage was available to anyone willing to buy them for the benefit of charity. August 22 marks Madras Day, when the city was founded in 1639. It has grown from a one-day event to a full month celebrating the city’s often overlooked past.

Grand Prix Badminton League (GPBL) on Saturday was postponed indefinitely after several players pulled out of the event, said League Commissioner Prasanth Reddy here. Reddy said the players were forced to withdraw from the GPBL, which was scheduled to begin on Sunday, after the Badminton Association of India (BAI) did not give necessary permission to run the league. «Our attempts to reach out to BAI thus far have proved futile.

₹10 lakh for the kin of the deceased. Speaking to media persons, Madurai District Collector MS Sangeetha said, “Today early morning at 5:30 am there was a fire accident in the coach which was halted here at Madurai railway station...They were pilgrims and were traveling from Uttar Pradesh." “This morning when they tried to make coffee and tried to light the gas stove, there was a cylinder blast. 55 people have been rescued and as of now, we have retrieved nine bodies...Rescue operation is underway…," she told reporters.

settled her differences with her relatives at the Murugappa Group. Arunachalam had accused the group of gender-based discrimination, as her appointment to their board of directors wasn't approved after her father, the family patriarch's, death.

affordable housing for India’s urban poor while creating sustainable and green infrastructure," he added. Highlighting the use of green construction technologies in PMAY-U, Puri said about 43.3 lakh houses are being constructed under the mission using sustainable building materials such as flyash bricks/blocks and AAC blocks.

Indians were granted a total of 17,379 work visas last year, Federal Foreign Office of Germany said. Germany granted a total of 152,336 national work visas to foreigners in 2022, representing a significant increase compared to 2021. Out of the total visas issued to Indians, 8,613 work visas were granted by the German Consulate General in Bangalore. The second-highest number of work visas for Indians was granted by the German Consulate General in Mumbai (3,013), followed by the Consulate General in Chennai (2,483), the German Embassy in New Delhi (2,434), and the German Consulate in Kolkata (836). Turkish nationals are the second-largest beneficiaries of work visas issued by Germany followed by Bosnians, Kosovars, Russians, Albanians, and North Macedonians. This comes at a time when German cabinet on Wednesday passed a draft bill to ease the citizenship law, hoping a faster track to German nationality will attract skilled migrants to plug chronic labour shortages holding back Europe's biggest economy. Some experts caution that progress may be slow, noting parts of Germany's administrative machinery are already creaking under a big backlog of existing citizenship applications.

₹54,650 per 10 grams for 22 carats, and ₹59,600 per 10 grams for 24-carat in the spot market. Silver prices remained stable at ₹73849 per kg.

What are some of the major projects in the pipeline? We are right now working on five more projects. Two of these data centre parks are coming up in Mumbai (Powai and Chandiwali). Both these projects are two buildings each with about 67 MW of IT power each.

two-wheeler showroom here early on Thursday morning, a police official said. The fire broke out around 5 am at the showroom located near the national highway (NH-16) and raged for about 90 minutes, the police official added. «The fire accident occurred when new vehicles were being unloaded from a truck which came from Chennai,» Vijayawada Central ACP P Bhaskar Rao said and added that the loss could be around Rs 4 crore, as per preliminary estimates. Five fire engines were deployed to douse the blaze as a result of which as many as 200 vehicles could be saved, he said. No police complaint has been lodged yet, he added. Police are yet to ascertain the cause of the accident, he said, adding there was no loss of life or injuries. Meanwhile, the situation is under control and the fire has been completely doused, Rao said, adding the owner of the showroom is estimating the loss.

₹54,300 and ₹59, 220 respectively. Gold prices moved up in the domestic futures market on August 23. MCX Gold for October 5 series traded 0.07 per cent higher at ₹58863 per 10 grams around 12:09 pm.

Indian Bank is likely to launch a second Swiss challenge auction for the distressed Dharani Sugars and Chemicals account after a change in the deal structure for transferring the loan account to the National Asset Reconstruction Company (NARCL). The change in the deal structure was necessitated after the government refused to recognise the proposal by the bad loan aggregator earlier because it had envisioned the creation of two trusts, one of which would exclusively deal with SBI's claims, two people aware of the developments said. The new proposed structure envisages the creation of a single trust which will house the security receipts (SRs) of the account. Unlike previously, SBI's priority charge on some recoveries from the accounts will now be adjusted from the overall recoveries from the SRs whenever they are redeemed, people familiar with the changes said. «SBI will not get a separate trust for the priority charge they hold but from whatever recoveries happen, SBI will get a higher share since the bank has special charge on some anticipated cash flows of the company,» said one of the persons aware of the process. Lead lender Indian Bank and NARCL did not reply to separate emails seeking comment till press time Wednesday. The second Swiss auction comes almost six months after NARCL gave a binding offer of ₹222.5 crore in early March.

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ALSO READ: Meet R Praggnanandhaa, Indian chess prodigy to take on No 1 Magnus Carlsen in FIDE World Cup final today Taking to X, the International Chess Federation wrote, "Magnus Carlsen takes a quiet draw with white against Praggnanandhaa and sends the final to tiebreaks. The winner of the #FIDEWorldCup will be decided tomorrow!" Earlier, Praggnanandhaa defeated World No. 3 Fabiano Caruana and stormed into the final of the FIDE World Cup.

Yogi Adityanath. While, the Jailer actor has clarified why he touched Adityanath's feet on Tuesday, Congress leader Udita Raj has a different opion on this act. Also read: Rajinikanth defends touching Yogi Adityanath's feet According to the Congress leader, debates are happening that CM Adityanath will become the future Prime Minister of India and that's why Rajinikanth touched his feet.

Ashoka Buildcon with a target price of Rs 155.0. The current market price of Ashoka Buildcon.

Reliance Retail Ventures Ltd, the retail business of Mukesh Ambani’s Reliance Industries Ltd, is looking to raise Rs3,048 crore through an infrastructure investment trust (InvIT) of its warehousing and logistics infrastructure assets, shows a draft document filed with Sebi. ET first reported on 12 April that Reliance was planning to monetise the warehousing and logistics assets of its retail business through an InvIT and that the group had set up a trust under the name of Intelligent Supply Chain Infrastructure Trust for this purpose. Reliance Retail will hold a minimum of 25% units of the trust and balance will be sold to incoming investors. Of the total issue proceeds of Rs3,048 crore, around Rs100 crore will be used for acquiring equity shares of a special purpose vehicle (SPV) created to hold the warehousing assets, while a sum of Rs2,928 crore will be used to provide a loan to the SPV for acquisition of the warehousing and related logistics assets. The initial proposal is to acquire warehouse space of 12.77 million square feet and related logistics infrastructure for a consideration of Rs4,261 crore. Additionally, the trust has also entered into a lending agreement with Sikka Ports and Terminals Ltd, a Reliance group entity, to avail a rupee term loan of Rs2,122 crore, which will also be utilised towards acquisition of the warehousing assets. The portfolio of assets will comprise 64 warehouses spread across 34 cities across India including key warehousing markets such as Delhi NCR, Mumbai, Bengaluru, Chennai, Kolkata, Ahmedabad, Pune and Hyderabad.

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