City Hyderabad Financial News

Waqf Board on three ancient ASI-protected monuments in Burhanpur as Waqf property. A large number of properties in India have come under the Waqf claim over past decades, some of which that made it to the headlines were Mukesh Ambani's home, Antilia, in Mumbai, two islands in Bet Dwarka in Gujarat, properties of the ISB, Microsoft, Wipro and Lanco in Hyderabad, Kolkata's Tollygunge Club, Royal Calcutta Golf Club, ITC Windsor Hotel in Bengaluru and a whole village and a temple said to be 1,500 years old in Tamil Nadu. Also Read: Waqf (Amendment) Bill, 2024 moved in Lok Sabha The Waqf Board has been at the centre of several controversies, mostly due to its claims on lands, and many had demanded amendments to the law governing it. Bringing the spotlight on the controversial Waqf law, Union Minister of Minority Affairs Kiren Rijiju has moved Waqf (Amendment) Bill, 2024 in Lok Sabha today amid opposition by several opposition MPs

residential sales across India’s top seven cities are expected to witness double digit growth in 2024-25. The area sold in Mumbai Metropolitan Region (MMR), National Capital Region (NCR), Bengaluru, Hyderabad, Pune, Kolkata, Chennai is likely to increase 10-12% to 785-800 million sq ft in the current financial year, on a high base of 2023-24, said ratings agency ICRA. Despite the moderation in the sales growth rate, the overall sales velocity, collections, and inventory position are estimated to remain healthy in 2024-25. The launches are expected to rise 12% on-year to 767 million sq ft in the current financial year, on an aggregate basis across the top seven cities, supported by decadal low inventory, comfortable years-to-sell (YTS, calculated as unsold inventory/sales in last 12 months) and healthy demand.

RJD leader Tejashwi Yadav on Monday alleged that the proposed amendments to the Wakf Act were in line with the BJP's politics of «polarisation» along religious lines. The former Bihar deputy chief minister, who is now the Leader of the Opposition in the state assembly, also questioned the Centre's reluctance to place in Constitution's ninth schedule the legislations, struck down by the Patna High Court, by which quotas for deprived castes had been hiked in the state. «The Union government seems to have no interest in working for the poor. This is a reflection on the ruling BJP at the Centre, which believes in the politics ofte polarisation,» Yadav told reporters. He was responding to queries about proposed amendments to the Wakf Act, which have met with stiff opposition from parties like Hyderabad MP Asaduddin Owaisi's AIMIM, and drawn flak from constituents of the INDIA bloc.

Bengaluru: Global Capability Centers (GCCs) in India have leased approximately 53 million square feet of office space in key Indian cities between 2022 and the first half of 2024, such as a highly skilled workforce, cost advantages, and favourable business conditions, according to CBRE and Zyoin's latest report. This growth is expected to continue, especially in India's top six metropolitan areas like Bengaluru, Hyderabad, Chennai, Pune, Delhi-NCR, and Mumbai, due to factors which boast exceptional talent pools that are conducive to expansion and future development. In the first half of 2024, office leasing activity in the GCC (Gulf Cooperation Council) region across six significant cities increased 8% year-on-year. During the same period, GCCs contributed to around 37% of India's total office leasing activity.

Air Force has given clearance to public sector firm Bharat Dynamics Limited for the production of 200 Astra Mark 1 air-to-air missiles. The Astra Mark1 missiles have been developed by the Defence Research and Development Organisation with BDL as its production agency. The production clearance to the BDL was given during a visit by the Indian Air Force Deputy Chief Air Marshal Ashutosh Dixit to Hyderabad recently, Indian Air Force officials said.

Centre is planning to amend the Waqf Board Act, AIMIM Chief Asaduddin Owaisi said on Sunday that it shows that the Modi government wants to snatch away the autonomy of the board and intends to interfere in it. Addressing a conference, Owaisi said, «Firstly, when Parliament is in session, the central government is acting against parliamentary supremacy and privileges and informing the media and not informing Parliament. I can say that whatever has been written in the media about this proposed amendment shows that the Modi government wants to take away the autonomy of the Waqf Board and it wants to interfere. This itself is against the freedom of religion.» The Hyderabad MP also alleged that the BJP has been against these boards and Waqf properties from the very beginning and they have been working on a «Hindutva agenda».

Adani Cement-owned Ambuja Cements will be investing Rs 1,600 crore in the Nawada district of Bihar to set up a six-million-tonne cement grinding unit. This is not only the first investment by the Adani group in Bihar, but also the largest investment for the state from the cement industry. The project will be set up in three phases in the states, with the first phase entailing an investment of Rs 1,100 crore, a capacity of 2.4 million tonne, and completion targeted by December 2025. “This investment aligns with the State Government's development programs and our growth plans,” Pranav Adani, director of Adani Enterprises was quoted in a release. “State Government’s support in fast tracking and provisioning of all permits has made this landmark investment possible in short time,” he said.

irrigation projects started between 1983 and 2018 in Telangana has doubled from over Rs 1 lakh crore to Rs 2 lakh crore as of March 2023, primarily due to their non-completion, the recent CAG report has revealed. According to the 2022-23 report by the Comptroller and Auditor General (CAG), which was presented in the state legislature on Friday, the state has been deprived of economic growth benefits, and there is no assured return on investments in irrigation and flood control due to incomplete projects. «There were 20 incomplete irrigation projects (commenced between 1983 and 2018) to be completed by the year 2023. The original cost of these projects has increased from Rs 1,02,388 crore to Rs 2,06,977 crore i.e., an escalation by Rs 1,04,589 crore (102 per cent),» reported PTI quoting the auditing watchdog.

White-collar hiring activity grew to 2877 points in July 2024, registering a 12% YoYincrease vs July 2023 and an 11% MoM sequential increase compared to June 2024, the latest edition the Naukri JobSpeak Index has revealed. Most sectors reported healthy double-digit growths, with Pharma/Biotech (26%), FMCG (26%), Real Estate (23%), and AI/ML (47%) leading the pack. However, some of the uptick could be attributed to an impacted base of July’23, which saw an atypical dip in Index value on account of the IT sector’s woes, a statement from the company said. The Pharma/Biotech sector recorded a substantial 26% YoY increase, with Baroda (61%) and Hyderabad (39%) driving the surge. Key roles within Pharma like Sales & Business Development and Procurement & Supply Chain saw a 42% rise in hiring. Similarly, hiring in FMCG sector grew by 26%, led by Bangalore (52%) and Kolkata (43%), with Marketing and Communication roles in FMCG experiencing a 57% increase. The Real Estate sector also demonstrated a strong 23% growth in hiring, largely influenced by Delhi-NCR (+51%) and Hyderabad (+28%).

Reserve Bank of India (RBI) on Thursday said 97.92 per cent of the Rs 2000 denomination banknotes have returned to the banking system, and only Rs 7,409 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 was announced, has declined to Rs 7,409 crore at the close of business on July 31, 2024. «Thus, 97.92 per cent of the Rs 2000 banknotes in circulation as on May 19, 2023, has since been returned,» the central bank said in a statement.

Warehouse space take up during H1 2024 witnessed an absorption of 16.6 Mn sq ft, an increase of 8% over the same period a year ago.

IPL) owners meet, which was organised by the Board of Control for Cricket in India (BCCI), Delhi Capitals (DC) was against the impact player rule while Sunrisers Hyderabad was (SRH) in favour of seven retentions, according to ESPNcricinfo.

Selling property: Will your taxes skyrocket by 1,000% post Budget announcement? To quantify the impact, we analysed the compound annual growth rate (CAGR) of real estate prices, the holding period, and the cost inflation index. Our calculations show that the effective tax rate under the new regime is only lower if the real estate’s CAGR significantly exceeds historical averages. For a 20-year holding period with a cost inflation rate of 5.5% a year, the CAGR must be above 9.48% for the new tax structure to be advantageous.

ecommerce enablement platform Shiprocket has set its sights on facilitating ecommerce transactions for the offline general trade segment, cofounder and chief executive Saahil Goel told ET.

DMRC's collaboration with Airtel Payments Bank to provide digital payment solutions for commuters.WhatsApp stated that this new smart card recharge facility is available for all routes in the Delhi and NCR region, including the Rapid Metro in Gurugram. This feature extends the QR-based Delhi Metro ticketing system that Meta launched in 2024.

not be a man and just express their fears, and occasionally, cry, whether at work or at home — sadly, often even with their male peers and friends — adds to the difficulty," says Anoop Rao, founder of ReLife, a leadership coaching and consulting service in Hyderabad. “I’ve seen many cases where even after being diagnosed with a mental health condition, the person has refused to work on it owing to the fear of judgement," says Kalpesh More, a facilitator and farmer who had initiated Biraadari, an online men’s circle during covid-19. Also, when it comes to men, some common mental health conditions are normalised, notes More.

2024 witnessed absorption of over 30 million sq ft of office space, registering an uptick of 18% compared to H1 2023, according to property consultant Vestian. As the demand for grade-A office spaces is robust across the top seven cities of India, the entire year (2024) is expected to cross the 60 million sq ft mark again after peaking in 2023.

Premier Energies Ltd and P N Gadgil Jewellers Ltd, have received Sebi's go-ahead to raise funds through Initial Public Offerings (IPOs), an update with the markets regulator showed on Tuesday. The other two firms that obtained the regulator's clearance to float initial share sales are — Ecos India Mobility and Hospitality Ltd and KRN Heat Exchanger Ltd. The four companies, which filed their preliminary IPO papers between March and April, obtained Sebi's observation letters during July 22-26.

ICICI Bank, Adani Wilmar, ACC, Dr Reddy's, IndiGo, IndusInd Bank among others will be in focus due to news developments and first quarter results. Adani Total Gas, HPCL, Adani Wilmar, ACC Shares of Adani Total Gas, HPCL, Adani Wilmar and ACC will be in focus as the companies will announce their first quarter results today.

stock in the ratio of 1:5 meaning that for each stock with a face value of Rs 5, there will now be 5 shares with a face value of Re 1. “Sub-division/ split of each equity share of the Company having face value of Rs.5/- (Rupees five only) each, fully paid-up, into 5 (Five) equity shares having face value of Re.1/- (Rupee one only) each, fully paid-up, by alteration of the Capital Clause of the Memorandum of Association of the Company,” the company informed the exchanges.