City Hyderabad Financial News

AIMIM president Asaduddin Owaisi on Tuesday said children should not grow up «glorifying criminal acts» in reference to Babri Masjid demolition being tweaked in NCERT textbooks. In a post on 'X', the Hyderabad MP said India's children should know that the Supreme Court called the demolition of Babri Masjid an «egregious criminal act». «The NCERT has decided to replace Babri Masjid with the words „three domed structure.“ It has also decided to call the Ayodhya judgement an example of „consensus.“ India's children should know that the Supreme Court called the demolition of Babri Masjid an egregious criminal act,» Owaisi said. The AIMIM chief further said India's children should know that a functioning masjid was «desecrated» in 1949 and then demolished by a mob in 1992. «They should not grow up glorifying criminal acts,» he said.

Bondada Engineering share price was locked in a 5% upper circuit on Tuesday after having received a large order from Bharti Airtel Ltd. The Bondada Engineering share price after having risen 1610% in last one year has given Multibagger returns to the investors.Bondada Engineering share price that opened at ₹2554.40 on the BSE on Tuesday, opened with gains of 4.8% over the previous day closing at ₹2436.80. The Bondada Engineering share price thereby scaled all time high of ₹2,558.60 on Tuesday, marking gains of 5%.Bondada Engineering had recently won order worth Rs.

CAPITAL HYDERABAD BEST TIME TO VISIT NOVEMBER-FEBRUARY

BENGALURU , MUMBAI : Quick-commerce company Zepto is looking to set up bigger dark stores so it can stock a larger assortment of products, according to two people aware of the company's plans. The development comes as the online grocery platform seeks to move big-time into non-grocery delivery, and as investors queue up to buy a stake in the four-year-old startup.

petrol prices above Rs 100 a litre and diesel to Rs 89, but rates are lower than neighbouring Andhra Pradesh which has the costliest fuel in the country, oil industry data showed. The Karnataka government on June 15 hiked local VAT (value added tax) from 25.92 per cent to 29.84 per cent on petrol and from 14.3 per cent to 18.4 per cent on diesel. This led to petrol price now costing Rs 102.86 per litre in Bengaluru and diesel coming for Rs 88.94 a litre. But the rates in Karnataka are still lower than neighbouring Andhra Pradesh and Maharashtra.

Sales of affordable homes — priced up to Rs 60 lakh each — declined 4 per cent in eight major cities to 61,121 units during January-March this year on lower supply and higher demand for luxury apartments, according to PropEquity. The top eight cities are — Delhi-NCR, Mumbai Metropolitan Region (MMR), Bengaluru, Hyderabad, Chennai, Kolkata, Pune and Ahmedabad. Real estate data analytic firm PropEquity data showed that sales of homes, costing up to Rs 60 lakh each stood at 6,3787 units in the January-March period of the last calendar year. A lower supply of affordable homes is one of the key factors for this marginal fall in sales.

Mandla, Madhya Pradesh, houses built on government land by 11 individuals were demolished after authorities found evidence of illegal beef trade, including the recovery of 150 cows and beef from their homes. Acting on a tip-off regarding cow slaughter in the Bhainwahi area, police conducted a raid, leading to the discovery of cows captive for slaughter, and confiscated beef and other animal products from the accused. «A team was rushed there and we found 150 cows tied in the backyards of the accused. Cow meat was recovered from the refrigerators in the homes of all the 11 accused. We also found animal fat, cattle skin and bones, which were stuffed in a room,» Mandla Superintendent of Police Rajat Saklecha told PTI. «The local government veterinarian has confirmed the seized meat is beef. We have also sent samples to Hyderabad for secondary DNA analysis. The houses of the 11 accused were demolished as they were on government land,» the SP added.

Jefferies' global equity strategist Chris Wood said GMR Airports Infrastructure is being added to its India portfolio. Wood said, in his weekly Greed & Fear newsletter, that the airport operator's introduction into its portfolio will be at the expense of the reduction of weights in ICICI Bank, HDFC Bank and Axis Bank.

IPO) of Bengaluru-based Stanley Lifestyles will open for subscription on June 21. The company has set a price band of ₹351-369 apiece for the share sale, which closes on June 25. Investors can subscribe for a minimum of 40 equity shares and multiples thereafter. The offer consists of a fresh issue of ₹200 crore and an offer for sale of up to 9,130,000 shares worth ₹337 crore by existing shareholders. Sunil Suresh and Shubha Sunil, promoters of Stanley, will sell 1.18 million shares each in the OFS portion of the IPO. Investor Oman India Joint Investment Fund II will also divest 5,545,000 shares in the IPO.

logistics costs for Adani Cements, chief financial officer Vinod Bahety told analysts in a call. Adani Cements transports less than 2% of its cargo through the sea route, and access to five bulk cement terminals at Kolkata, Gopalpur, Karaikal, Kochi and Colombo through Penna Cement is expected to boost this to 10% by 2027-28 (April-March), he said. «A key highlight of this transaction is that it gives me complete strength for the servicing of peninsular India. A lot of companies have cement, but this company has been much more visionary in terms of sea logistics infrastructure,» Bahety said. For the cargo that is transported through the sea route, it can help bring down costs by as much as ₹300-400 per tonne, while on an overall basis, it will bring in savings of ₹50-70/tonne.

Suven Pharmaceuticals share price gained more than 5% in the morning trades on Friday post its announcement regarding acquisition of Hyderabad based CDMO firm Sapala Organics on Thursday post market hours.Suven Pharma share price that opened at ₹695.00, higher than previous close of ₹667.95, gained further more to ₹705 levels in the NSE, marking gains of more than 5%.Suven Pharmaceuticals announcement on the exchanges said that that it has executed definitive agreements on June 13, 2024, for acquiring 100% of equity shares (on a fully diluted basis) in Sapala Organics Private Limited.Also Read- Kotak Institutional raises target price for Adani Ports and SEZ to ₹1,650, says outperformance can continue for longThe Hyderabad based Sapala Organics is contract development and manufacturing organizations (CDMO) that is focused on Oligo drugs and nucleic acid building blocks including Phosphoramidites & Nucleosides, drug delivery compounds (including GalNAc), Pseudouridine, amongst others.Suven Pharmaceuticals in its presentation highlighted that Sapala Organics sales stood at ₹67 Crore with more than 45% Ebitda margins in FY24. Ebitda stands for Earnings before, Interest, Tax, Depreciation and amortisation.Sapala Organics has a customer-base across the US, European Union and Japan; partnering on their New Chemical Entity (NCE) programs across project lifecycle.

Grasim Industries, Shriram Finance, Hindustan Unilever, Eicher Motors, and Britannia Industries were the top gainers, while Tech Mahindra, JSW Steel, HCLTech, NTPC, and Wipro, were the top drags. Sensex Today Live : Only eight stocks out of the 30 on the BSE Sensex were trading in the green.

Ambuja Cement, Vodafone Idea, Puravankara, Wipro among others will be in focus due to various news developments. L&T Finance

Adani Group unit Ambuja Cement is to acquire Hyderabad-based Penna Cement at an enterprise value of ₹10,422 crore, adding to its capacity and market share in southern India. Mumbai-headquartered Ambuja Cement will acquire 100% of Penna Cement from existing promoter group P Pratap Reddy and family, the company said in a stock exchange filing. Penna Cement has around ₹3,000 crore of debt, including fund, non-fund debt and inter-corporate deposits, according to sources. Of the enterprise value, Ambuja Cement will hold back around ₹3,500 crore as milestone payments for completion of 2 million tonne (MT) cement capacity and 3 MT clinker facility at Penna's Rajasthan plant, which is likely in a year.

social media trend by sharing a picture of his apartment view and revealing his monthly rent of Rs 80,000. This post, initially met with surprise, led to a viral trend where people shared pictures of their views and rent details from cities like Bengaluru and Mumbai. Jha's post on X quickly gained traction, with approximately 10 lakh views since its sharing on June 7. He clarified that he shares a 3-bedroom apartment with two flatmates. This sparked a debate online about the financial wisdom of paying such high rent when «better» options might be available.

TS LAWCET 2024 Results Live Updates: The Telangana Law and PG Law Common Entrance Test results will be declared today at 4:00 pm, as announced by Hyderabad's Osmania University.Once the results are announced, Candidates who have appeared for the Common Entrance Test can check the results on the official website of TS LAWCET through the direct link, lawcet.tsche.ac.in.TS LAWCET and TS PGLCET exam was administered in three shifts on June 3 this year. The testing authority conducted Session 1 from 9 am to 10:30 am, Session 2 from 12:30 pm to 2:00 pm and Session 3 from 4:00 pm to 5:30 pm.

India’s retail sector is witnessing a significant surge, and is expected to grow by 50% to 134 million sq ft by the end of 2028 from 89 million sq ft at present, according to a report by JLL. Close to 88 new retail developments with a cumulative area of around 45 million sq ft are expected to come on stream in the seven cities — Mumbai, Delhi-NCR, Bengaluru, Hyderabad, Pune, Kolkata, and Chennai – over the next 5 years.

Olympus Corporation, the Japanese medical technology major, on Wednesday said it will establish a Research & Development (R&D) Offshore Development Center (ODC) in Hyderabad.

Titan Company, CLSA has an outperform rating on Tata Motors and Citigroup recommended a buy on IndusInd Bank. We have collated a list of recommendations from top brokerage firms from ETNow and other sources:

Mint explains why: Organized retail space completion will see a significant surge and add nearly 45 million sq. ft between 2024 and 2028-end in the top seven cities. The new addition of space will happen through 88 new retail developments, including shopping malls and large, integrated retail-led projects, according to estimates by JLL India.

₹1,445 crore to partly finance the acquisition of US-based pharmaceutical major Viatris’ active pharmaceutical ingredients (API) business by Matrix Pharma Private Ltd.The deal is being consummated with financing from Kotak Strategic Situations Fund II, the firm said in a statement, more than a year after it announced the first close of a $1.25 billion fund to invest across growth and value companies.The acquisition is expected to make the Hyderabad-based Matrix Pharma the second largest Indian player in antiretroviral API space. It will also gain access to Viatris’ network of 185 scientists and a repository of more than 600 drug master files (DMF).Kotak Alt’s capital infusion will enable Matrix to consolidate its leadership in the API business by focusing on third-party sales and will selectively evaluate inorganic opportunities in the pharma contract development and manufacturing organization (CDMO) space.Srini Sriniwasan, managing director of Kotak Alternate Asset Managers, said that the deal underscores Kotak Alt’s pharma industry capabilities and its ability to create a platform to build a robust API business which we can support with organic and inorganic growth.Viatris Inc was a result of a merger between Mylan NV and Pfizer’s Upjohn unit in 2020.