City Hyderabad Financial News

Anamudi Real Estates, a part of the Godrej family office, is likely to partially exit its share in Bengaluru-based real estate developer Sobha Ltd in a deal valued around Rs. 1,000 crore.

Cyient shares plunged 9% to Rs 1724 in Friday's trade after the company posted a drop in June-quarter profit due to delays in project execution. The company reported a 23.8% sequential drop in its first-quarter net profit at Rs 144 crore. On a year-on-year (YoY) basis, the profit for the Hyderabad-based firm declined 18.6%.

₹1,400 crore, and infused more funds to acquire assets. The private equity firm has hired JP Morgan and Avendus to find buyers for Lighthouse. The 100% stake sale in Lighthouse, that was formerly called EuroKids International Group, assumes significance given that schooling and pre-schooling are perceived as regulated sectors, and any foreign investor will have to get comfort before going ahead with the investment, the three people said.

heavy rains continued to lash Mumbai. Runway operations at the Mumbai airport had to be halted twice as the visibility dropped to 300 meters, even as airlines issued advisories to passengers to arrive early at the airport in view of traffic congestion and water-logging in parts of the metropolis.

Air India Express, a subsidiary of Tata owned Air India on Thursday announced that it has expanded its network to Tripura. It will introduce daily direct flights connecting Agartala to Guwahati, Delhi and Kolkata from September 1, said the airline in a press release. Tripura will be the airline’s 46th destination.

Radhakishan Damani, through his entity Derive Trading, on Wednesday offloaded a partial stake in tobacco company VST Industries through bulk deals. According to exchange data, Damani sold about 2.62 lakh shares or about 1.7% stake in the company at Rs 4,102 apiece. This takes the transaction value to Rs 107 crore.

quarterly results for the April-June 2024 period on Wednesday. Key results to watch out include L&T, Axis Bank, Bajaj Finserv and SBI Life. Apart from the above, companies like CMS Info Systems, Craftsman Automation, DCB Bank, Epack Durable, Federal Bank, Go Fashion, Jindal Steel, JK Paper, Mahindra Lifespace, KPIT Technologies, Ramco Systems among others will also announce their results.

Air India Express continued its network expansion, connecting Bengaluru to Abu Dhabi with its first direct international service from India's IT capital on Tuesday, officials said. With over 200 weekly flights, Bengaluru is the largest station for Air India Express, they said. In a statement, the airline said, «With the launch of the Bengaluru-Abu Dhabi flight, guests from cities such as Ayodhya, Bagdogra, Bhubaneswar, Chennai, Goa, Guwahati, Gwalior, Hyderabad, Indore, Jaipur, Kolkata, Lucknow, Pune, Ranchi, Varanasi, and Visakhapatnam now have the option to connect conveniently to Abu Dhabi through one-stop itineraries via Bengaluru.» Air India Express operates direct flights connecting Abu Dhabi to Bengaluru, Kannur, Kochi, Kozhikode, Mangaluru, Mumbai, Thiruvananthapuram, and Tiruchirappalli and connects 17 Indian cities to Abu Dhabi via convenient one-stop itineraries, it added.

IT sector and a significant presence of high-net-worth individuals (HNIs) have made Hyderabad a prime target for cybercriminals. In 2023, Telangana reported the highest share of malware attacks in India, accounting for 15% of the country's total, according to the latest India Cyber Threat Report.

IT cities like Hyderabad, Pune, and Delhi-NCR due to more investor-friendly employment policies, reported TOI. Telangana might become the state that benefits the most as it offers incentive-based employer policies, while Hyderabad has been in tough competition with India's start-up capital, Bengaluru. The Siddaramaiah-led Congress government’s new reservation demands for locals in Karnataka might lead to flight risks by several investors currently based in India’s Silicon Valley. “All the GCC movement is in Bengaluru and Hyderabad. Future growth will start moving to competing cities like Hyderabad and even Pune and Delhi NCR,” said a top executive official of a global financial services giant to TOI. Moreover, though HYSEA president Prashant Nandella told TOI it is still too early to speculate, he believes such a policy might benefit pro-industry states such as Telangana. In addition, former CII Telangana Vagish Dixit told TOI that investors have a choice to move and might fly to other states as a result of such counterproductive policies.

No, it is not a bank holiday on July 20, 2024, as it is the third Saturday of the month, and this will be the last working Saturday ahead of July 31 Income Tax Return deadline. The next Saturday, July 27, banks will be closed as it is the fourth Saturday of the month. If you have not yet filed your income tax return, it's important to ensure that your banking tasks are completed this Saturday. In the event that your net banking or other online payment methods are not working, you can still pay your taxes in person or through RTGS / NEFT at your bank's physical location as these services should be operational on that day. Additionally, you may need to visit the bank to obtain documents such as interest certificates and Form 16A. <div data-placement=«Mid Article Thumbnails» data-t

₹190 crore, two company executives told Mint. The company has committed ₹100 crore to Chennai-based Radiance Realty Developers India Ltd, and another ₹90 crore to Pune-based Mantra Properties and Developers Pvt. Ltd, for their respective residential projects.

Edtech firm ByteXL has raised $5.9 million in a funding round led by early-stage venture capital firm Kalaari Capital as the lead investor, along with the Michael and Susan Dell Foundation. The funds will be used for expanding the team, advancing product development, rolling out new digital tools and technologies, and expanding outreach efforts to more colleges and universities across the country.

French drugmaker Sanofi plans to invest ₹400 million (about ₹3,600 crore) over the next six years to expand its global capability centre (GCC) in Hyderabad by increasing the headcount and further developing the facility. Of the total, ₹100 million will be invested by the end of 2025. Over the next two years, Sanofi plans to more than double the headcount at the Hyderabad GCC to 2,600 employees, making the centre the largest of its four hubs globally. The company employs about 1,000 people in Hyderabad. The Hyderabad GCC will support Sanofi's global operations spanning commercial, manufacturing, supply chain research and development (R&D) and digitalisation. The GCC in India will help the company bring some of outsourced functions in-house, giving it more control over critical operations like manufacturing, commercial and R&D.

Hyderabad's National Geophysical Research Institute (NGRI) has unearthed new findings shedding light on an ancient link between the Indian subcontinent and Antarctica. Their research provides strong evidence of a collision between India and East Antarctica over a billion years ago, a TOI report stated. In a significant discovery, the NGRI team, which includes Dr. K Chandrakala, OP Pandey, Biswajit Mandal, K Renuka, and N Prem Kumar, uncovered a hidden ridge beneath the Darsi and Addanki regions of Andhra Pradesh. This ridge is attributed to the historic collision, suggesting a tilting of the Cuddapah basin towards the south. The study further indicates signs of past seismic activity in the area, hinting at the presence of a marginal ocean basin along the east coast during the Columbia and Rodinia supercontinent assembly periods. By reprocessing seismic data along a 325-kilometer profile from Alampur to Ganapeswaram, the team investigated the subsurface crustal seismic structure of the north Cuddapah basin. Their findings revealed a thin layer of alluvium underlain by Gondwana sediments and Proterozoic sedimentary layers. Gondwana, a supercontinent encompassing present-day South America, Africa, Arabia, Madagascar, India, Australia, and Antarctica, played a crucial role in the geological evolution of these regions.

workspace provider Incuspaze, has leased 115,000 sq ft in Bangalore’s Whitefield. “With our ongoing expansion in Bangalore and our plans for Chennai and Hyderabad, we are committed to providing tailored workspace solutions that support the diverse needs of our clients,” said said Sanjay Choudhary, founder and CEO of Incuspaze. Incuspaze is set to expand its portfolio in southern India, with ORR micro market in Bangalore and further entering key markets in Chennai and Hyderabad. As part of its growth plan, the company is targeting over 2 million square feet of workspace take-up over the next two years.

construction technology and the implementation of the Real Estate Regulatory Authority (RERA), ensuring home buyers receive their homes on time, according to a report by a real estate consulting firm. In the top seven cities, the average completion time for smaller projects of fewer than 500 units is now four years, while larger projects with more than 500 units take about 4.9 years to complete, as per data from Anarock. The market share of large and listed developers has also increased significantly, contributing to the timely delivery of projects, the report noted.

luxury brands to take note. Industry insiders said Hyderabad is now snapping at the heels of Delhi and Mumbai and is a market to watch out for. «In 2012, we had only three entrants from Hyderabad on the Hurun Rich list. Fast forward to 2023, and that number has surged to 87,” said Anas Rahman Junaid, founder and chief researcher, Hurun India.

large scale projects in less than five years since 2014 against 6 years before that as modernisation of construction technology and implementation of Real Estate Regulatory Authority (RERA) has ensured homebuyers are getting the home in time. According to Anarock data, the average time taken to complete smaller projects of less than 500 units in the top 7 cities was 4 years, and 4.9 years for large projects of more than 500 units each. Market share of large and listed developers, has also increased significantly, which has contributed to timely delivery of the projects.

12 problem statements on Geo-Spatial Applications from centres NRSC, PRL, NESAC, SPL, and SAC.As per ISRO, Teams of 3-4 Indian students from undergraduate, postgraduate, and PhD programs are invited to participate for the Hackathon which involves a rigorous two- level screening process.The Indian space agency said in a statement said, “Initially, 100 teams will be shortlisted based on their ideation and relevance to the problem statements. From these, an expert committee will select 30 teams for the grand finale."The grand finale, a 30- hour marathon event, will be held at the NRSC Outreach Facility in Jeedimetla, Hyderabad, starting at 10:00 hrs IST on August 13, 2024.The hackathon event is managed through a dedicated web portal.

Ola CEO Bhavish Aggarwal voiced his support for a 70-hour work week, echoing sentiments put forth earlier by Infosys co-founder Narayana Murthy. Aggarwal, in a podcast appearance, emphasized his belief that such intensive work hours are essential for fostering national economic growth, despite facing criticism on social media. «When Mr. Murthy said that (70-hour work week), I was publicly in support of that and I got trolled on social media for that. But, I don’t care because I have a strong belief that one generation will have to do tapasya… so that we can build the number 1 country in the world, the largest economy,» Aggarwal remarked. Aggarwal also dismissed the concept of work-life balance, asserting, «I don’t agree with the work-life balance concept because if you are enjoying your work, you will find happiness in life also and work also, and both of them will be in harmony.»