City Hyderabad Financial News

Ganesh Chaturthi, one of the most significant Hindu festivals, will be observed on Saturday, September 7, 2024. The festival, celebrated with great fervor across India, marks the birthday of Lord Ganesha, the deity of wisdom and prosperity. Devotees engage in various rituals, including Puja and offering Bhog, to seek the blessings of Lord Ganesha for a prosperous and obstacle-free life.

India Meteorological Department (IMD) has issued weather alerts predicting heavy rains across several regions in India. As the intensity of rainfall diminishes in Telangana, the IMD has forecasted isolated heavy rains in Kumuram Bheem Asifabad, Mancherial, Jayashankar Bhupalpally, and Mulugu districts on September 4. Numerous alerts, ranging from warnings of thunderstorms to severe rainfall, cover regions including Kerala, Mahe, Coastal Karnataka, Northeast India, Rajasthan, and Delhi from early September through the 8th. In Telangana, the IMD anticipates thunderstorms accompanied by lightning and strong surface winds in Adilabad, Bhadradri Kothagudem, Khammam, and Mahabubabad. For Hyderabad and its surrounding areas, generally cloudy weather is expected over the next 24 hours, potentially bringing light to moderate rain or thunder showers with gusty winds. The city's temperatures are predicted to range between a maximum of 27°C and a minimum of 23°C.

Karnataka government has officially declared dengue as an epidemic disease following a sharp increase in cases across the state. According to the Health Department, a total of 7,362 dengue cases have been reported from January to July this year, with seven fatalities recorded during this period.

AIPL plans to take the rental portfolio to nearly 5 million sq ft with multiple retail and office complex under construction, a senior executive said. Majority of the company’s commercial project are in Delhi-NCR while some are in Punjab as well. The company currently operates 1.4million sq ft and by Q2 2025, two projects, AIPL Statement and AIPL Autograph having total leasable area of 3.5 million sq ft would be ready.

Premier Energies' shares debuted on the exchanges with a 120% premium on Tuesday. The stock listed at Rs 990 on NSE and Rs 991 on BSE, compared to the offer price of Rs 450. Ahead of its debut, the company's shares traded at a premium of over 100% in the unlisted market.

₹427 to ₹450 per equity share, having a face value of ₹1. Anchor investors infused ₹846 crore into the company.The initial public offering (IPO) comprises a fresh issuance of equity shares totalling up to ₹1,291.4 crore and an Offer for Sale (OFS) of a maximum of 3.42 crore shares by the existing shareholders, which amounts to approximately ₹1,539 crore based on the upper band price of ₹450.As part of the offer-for-sale component, South Asia Growth Fund II Holdings LLC (SAGF II) will sell 2.68 crore equity shares, South Asia EBT Trust will divest 1,72,800 equity shares, and promoter Chiranjeev Singh Saluja will offload 72,00,000 equity shares.Founded in April 1995, Premier Energies Limited specialises in the production of integrated solar cell and solar panels.

Reserve Bank of India (RBI) on Monday said 97.96 per cent of the Rs 2000 denomination banknotes have returned to the banking system, and only Rs 7,261 crore worth of the withdrawn notes are still with the public. On May 19, 2023, the RBI announced the withdrawal of Rs 2000 denomination banknotes from circulation. The total value of Rs 2000 banknotes in circulation, which was Rs 3.56 lakh crore at the close of business on May 19, 2023, when the withdrawal of Rs 2000 banknotes was announced, has declined to Rs 7,261 crore at the close of business on August 30, 2024, the RBI said. «Thus, 97.96 per cent of the Rs 2000 banknotes in circulation as on May 19, 2023, has since been returned,» it said in a statement.

Vijay Nair in a money laundering case related to the alleged Delhi excise policy scam. A bench of justices Hrishikesh Roy and SVN Bhatti had deferred the matter after the counsel for the ED sought a weeks' time for filing a counter affidavit. The top court had issued notice to the Enforcement Directorate (ED) on August 12 on the plea of Nair while noting that he has been in custody for two years.

rainfall in the past two days paralysed life at several places in Andhra Pradesh, especially in Vijayawada and vicinity while 17,000 rain-affected people were evacuated across the state. Budameru, a rivulet on the outskirts of Vijayawada suffered a breach and overflowed at several points on Sunday, leading to flooding at many city localities such as Ajit Singh Nagar, Swathi Theatre area, Police Nagar area and west and central constituencies. According to footage from vernacular news channels, several cars and vehicles were submerged in these areas and others also in Vijayawada due to the flooding. At Rajarajeswari Peta in the city, people were seen wading through chest-deep water on a flooded street.

Rajinikanth’s ‘Coolie’ is one of the most anticipated films in Tamil cinema. It looks like the magnum opus will have a spectacular ensemble cast! According to reports, many bigwigs, such as Telegu icon Nagarjuna, and actress Shruti Hassan, will be associated with the project. On Nagarjuna's 69th birthday, the filmmakers revealed his official poster from the movie, introducing his character with the message, «Kicked to have King Nagarjuna Sir joining the cast of Coolie as Simon. Welcome on board and wishing you a very happy birthday Sir.» Director Lokesh Kanagaraj also shared a poster featuring Shruti Haasan, announcing on X (formerly Twitter), «Kicked to have Shruti Haasan joining the cast of Coolie as Preethi. Welcome on board.» Prior to that, Lokesh Kanagaraj welcomed Soubin Shahir to the team, announcing on X, «Thrilled to have Soubin Shahir Sir join the cast of Coolie as Dayal. Welcome aboard, Sir.»

IndiGo flight from Jabalpur in Madhya Pradesh to Hyderabad in Telangana was diverted on Sunday to Nagpur following a bomb threat. In a statement, IndiGo said its flight 6E-7308, scheduled from Jabalpur to Hyderabad, got diverted to Nagpur International Airport on Sunday morning due to a bomb threat message on board the aircraft. «Upon landing, all passengers were disembarked, and mandatory security checks were promptly initiated. Passengers were provided with assistance and refreshments,» the statement added.

Hyderabad on Saturday caused significant disruptions across the city, leading to widespread waterlogging and massive traffic jams. The downpour, which began as a light drizzle around 5 am, continued throughout the day, severely affecting daily life. IMD has predicted heavy rains are expected in various parts of Hyderabad for the next 2-3 days.

heavy rains across the state, Telangana Chief Minister Revanth Reddy has asked all government department officials to be on high alert. The Chief Minister spoke to Chief Secretary Santhi Kumari and directed to ensure that the officials of the Revenue, Municipal, Electricity, and Health Departments are on high alert. Officials have been instructed to take all measures to prevent any untoward incidents and shift people from the low-lying areas to the relief camps immediately. In view of the lifting of the gates of the reservoirs, officials have been asked to vacate people in the low-lying areas to safer places.

monsoon remained active over Telangana, bringing heavy to very heavy rainfall across various districts, including the capital Hyderabad. On Saturday, Hyderabad witnessed heavy waterlogging in some parts of the city, leading to disruption in traffic. Narayanpet witnessed particularly heavy rainfall at isolated spots, while Mahabubabad experienced significant downpours across most areas. Additionally, Warangal, Bhadradri Kothagudem, Khammam, Mahabubnagar, Mulugu, Nagarkurnool, Suryapet, and Wanaparthy were impacted by isolated showers of varying intensity.

demolition of his brother's sports venture here was carried out without notice and consideration of prior permissions, former Union HRD Minister M M Pallam Raju has said the demolition was extremely painful. Raju, senior Congress leader from neighbouring Andhra Pradesh, also said he is feeling the pain of the vilification of a clean record of three generations of public life. The demolition was part of the drive initiated by the HYDRA (Hyderabad Disaster Response and Assets Monitoring and Protection Agency), recently set up by the Telangana government, against alleged encroachments on government properties like lakes and other violations of rules. «Extremely pained by the demolition of ORO Sports Village, a passionate sports venture by my brother Anand, in 7 acres of leased land. ⁠Demolition done without notice and without consideration of prior permissions and clearances,» Raju said in a post on the social media platform 'X'.

Hurun India Rich List, surpassing Bengaluru for the first time to secure the third position in terms of the number of wealthy residents. The city added 17 new entrants this year, reflecting its growing prominence in India's wealth landscape.

Urban Vault, a managed co-working firm, has leased 100,000 sq ft of office space at Brigade Summit, a mixed-use project by Brigade Group in Whitefield, Bengaluru as the firm plans to expand the business to meet the increasing demand for managed workspaces. The new facility will include more than 2,000 desks and will see Urban Vault—a self-funded, bottom-line-driven company enter the Whitefield micro market that is witnessing many flexible operators expand operation. «The demand for prime office space has significantly revived. Large and medium-sized corporations are now preferring hassle-free managed office space from operators,» Urban Vault, Co-founder and CEO, Amal Mishra said.

Mumbai has become the 'billionaire capital' of Asia as it now comprises of more billionaire individuals than China's cpital city of Beijing, according to the Hurun India rich list 2024. «Home to 25% of the list – Mumbai is not only the billionaire capital of Asia, overtaking Beijing but also the preferred city for Hurun India Rich Listers, followed by New Delhi and Hyderabad,» the Hurun list data stated. Beyond this, Mumbai also registered a net increase of 58 billionaire individuals, adding to its growth momentum, the Hurun data revealed. This was followed by New Delhi, which added 18 new billionaires.

K Kavitha walked out of the Tihar jail on Tuesday evening after being granted bail by the Supreme Court. She was arrested by the Enforcement Directorate (ED) in an alleged money laundering case linked to the Delhi excise policy scam. «Entire country knows I was put in jail for political reasons. I have done nothing wrong,» said Kavitha upon release.

Nagarjuna, Telangana Chief Minister Revanth Reddy said his government would not spare those who encroached upon lakes and also crack down on such activities even if they are influential in the society. Speaking at a function by the Hare Krishna Movement, Reddy said he would follow the preaching of Lord Krishna which proclaims that for the good of the people, one should follow Dharma in order to defeat Adharma through a fight. Officials of Hyderabad Disaster Response and Asset Protection Agency (HYDRAA), GHMC, Town planning, irrigation and revenue departments on Saturday removed encroachments in the Full Tank Level of the / Buffer zones of Tammidikunta lake and amongst the many structures removed, N- Convention co-owned by Nagarjuna was also one of the unauthorised structures. The N-Convention is built in the FTL / Buffer zone and has no building permission whatsoever, a government release said. «That is the reason despite pressures, though ( some of our) friends have farmhouses, the HYDRAA was created ( for protecting lakes and government properties). I want to do some good to the people as part of that. The sole objective is to liberate these lakes from the encroachers. We will crush encroachments with an iron hand. Though there are pressures, we will not go back and we will remove those encroachments,» the CM asserted.

Although the wait time for US visitor visa appointments in India has decreased from a peak of 999 days at the end of 2021, it still exceeds a year. The US Department of State website Friday showed wait times for B1/B2 visa interview at 459 days in Chennai; 450 in Mumbai; 407 in Hyderabad; 381 in Kolkata and 379 in Delhi.