City Hyderabad Financial News

Hyderabad region has witnessed a 1 per cent annual fall in registrations of residential properties in January to 5,411 units, according to Knight Frank. As many as 5,454 housing units were registered in January 2023 across the Hyderabad residential market, which includes four districts namely Hyderabad, Medchal-Malkajgiri, Rangareddy and Sangareddy. The data covers transactions of both primary (first sale) and secondary (resale) markets. As per the data compiled by real estate consultant Knight Frank India, the total value of properties registered during January stood at Rs 3,279 crore, which is 24 per cent higher year-on-year, indicating a movement towards sale of higher value homes.

Hyundai Motor India is taking a significant leap towards making electric vehicles more accessible across the country. The company has recently expanded its ultra-fast EV charging network by setting up 11 new charging stations in various cities and along major highways. These new charging stations are strategically placed to benefit cities like Mumbai, Pune, Ahmedabad, Hyderabad, Gurugram, and Bangalore. They are also located along highways such as Delhi-Chandigarh, Delhi-Jaipur, Hyderabad-Vijayawada, Mumbai-Surat, and Mumbai-Nashik. The aim of these charging stations is to provide quick and convenient charging options for electric vehicle owners. Most of them operate 24/7, catering to both city dwellers and long-distance travelers. The charging stations utilize advanced technology that enables vehicles to be charged rapidly and efficiently. For example, the Hyundai IONIQ 5, one of Hyundai's electric vehicle models, can be charged from 10% to 80% in just 21 minutes using these chargers. To make the charging process even more convenient, customers can use the MyHyundai app. The app allows users to discover charging stations, navigate to them, pre-book charging slots, make digital payments, and monitor the charging status. Looking ahead, Hyundai plans to further expand its ultra-fast charging network to 10 or more new locations by 2024. Additionally, as part of an agreement with the Government of Tamil Nadu, Hyundai aims to install 100 charging stations by 2027.

Top developers are entering new markets for residential projects, as rising urbanization and an expanding middle class fuel a housing boom. Developers are exploring opportunities particularly in cities such as Hyderabad, Pune, Bengaluru and Gurugram that have seen high sales. Mumbai-based Godrej Properties Ltd this week acquired 12.5 acres in Hyderabad’s Rajendra Nagar locality to develop a premium residential project, marking its entry into the city.

NEW DELHI : India’s aircraft maintenance, repair, and overhaul (MRO) units have sought a reduction in rental rates at which the government renews their land leases, Mint has learnt. “The industry has sought intervention by the civil aviation ministry on lease rentals for the MRO industry. The norms state that a new allotment of Airports Authority of India (AAI) land is approved at 40% of prevailing land lease rates for MRO companies.

Sun TV Network has reported a consolidated net profit of Rs 454 crore in Q3, up 6.8% from Rs 425 crore in the same quarter of the previous fiscal. The company's total income was up 7.5% at Rs 1059 crore while operating revenue increased 4% to Rs 923 crore. Expenses rose 7.8% to Rs 451 crore.

Radisson Hotel Group said on Wednesday it has 'accelerated' its growth in India by signing 21 hotels in 2023, under its portfolio of nine brands. The chain said it has marked its foray into the South Asian luxury market by signing the first Radisson Collection in India. The group also announced the signing and opening of the first internationally branded hotel in Ayodhya, the Park Inn by Radisson Ayodhya.

Pradyuman Reddy, Hyderabad, Telangana The Nifty Healthcare Index is a sectoral index on the NSE that captures the behaviour and performance of healthcare companies in the Indian economy on a real-time basis. It is constituted of 20 stocks that are listed on the NSE and are involved with the health and wellness industry. These include pharmaceuticals, hospitals, diagnostics, medical equipment, biotechnology, and other allied services.

defence ministry signed a Rs 2,269-crore deal with state-run Bharat Electronics Limited (BEL) on Tuesday for the procurement of 11 Shakti warfare systems, along with associated equipment. The electronic warfare system will be installed on-board the frontline warships of the Indian Navy, officials said. The Shakti systems are capable of accurately intercepting electronic emissions and implementing counter measures in a dense electromagnetic environment, they said. «The Ministry of Defence has signed a contract with Bharat Electronics Limited (BEL), Hyderabad on February 13 for procurement of 11 Shakti Electronic Warfare Systems along with associated equipment/accessories for Indian Navy under Buy (Indian-IDDM) category at a total cost of Rs 2,269.54,» the ministry said in a statement.

A robust 17.4% YoY surge in rents was recorded across 13 major Indian cities, with Gurugram (31.3% YoY), Greater Noida (30.4% YoY) and Bengaluru (23.1% YoY) taking a lead, according to Magicbricks’ flagship Rental Update (October- December 2023).

For procurement of 11 Shakti Electronic Warfare Systems along with associated equipment / accessories for Indian Navy a contract worth Rs 2269.54 crore was inked between Ministry of Defence and Bharat Electronics Limited (BEL), Hyderabad. This will be procured under Buy (Indian- IDDM) category.

Assam government has announced that 'Kaji Nemu' (citrus lemon) has been recognized as the state fruit of Assam. Assam Chief Minister Himanta Biswa Sarma stated, «Our government has decided to declare Kaji Nemu (Citrus Limon) as the State Fruit of Assam. With its unique aroma and antioxidant properties, Assam lemon has enriched our local cuisines. With today’s announcement, it is set to shine on the global fruit map, boosting self-dependency and production.»

Wipro, India’s fourth largest information technology (IT) services firm, on Tuesday said it will acquire US-based insurtech firm Aggne Global Inc and its Hyderabad-based affiliate Aggne Global IT Services for $66 million. Wipro will acquire 60% of the company in an all-cash deal, with an option to purchase the remaining stake over a period of time, as per a stock exchange filing.

Ben Stokes will win his 100th Test cap when he leads England against India in the third Test beginning Thursday in Rajkot, as both sides have to contend with the absence of key players. The five-match series is on a knife-edge at 1-1 after India's 106-run victory in the second Test in Visakhapatnam followed England's 28-run win in Hyderabad. Batsmen Virat Kohli and KL Rahul will be absent for India while England's senior spinner Jack Leach has been ruled out of the final three matches with a knee injury suffered in the first Test.

₹200,000 each also hiked stake in the bourse to 3.62% in the December quarter from 3.49% in the preceding quarter. Of the total equity stake held by HNIs, veteran investor Radhakishan Damani kept a 1.58% stake. The hike in the share of resident entities is borne by huge transfers of NSE shares from non-residents and foreign-controlled Indian entities (ind-irect foreign investment) to residents in December.

Satya Nadella, chairman and chief executive officer of Microsoft Corporation. Emphasising the role of artificial intelligence in driving increased productivity, the Hyderabad-born technocrat said it gives him “tremendous optimism” that it (AI) will further accelerate India’s growth as it races towards its goal of becoming a developed nation by 2047. “At the end of the day, what's the difference between being a developed country and a developing country? It’s just the rate of growth over long periods of time,” 56-year old Nadella told ET in an interview, last week. He cited the example of the digital public goods, which when “scaffolded or daisy-chained with a large language model” can create several innovative solutions for various sectors of the economy.

spin spearhead Jack Leach will miss the rest of their five-match test series against India due to a left knee injury, the England and Wales Cricket Board (ECB) said on Sunday. The 32-year-old hurt his knee twice while fielding during England's first test victory in Hyderabad where he picked up two wickets and missed the second match in Visakhapatnam, which the hosts won on Monday to level the series at 1-1. The ECB said it will not call up a replacement and Leach will head home from Abu Dhabi, where the team have been staying ahead of the third match in Rajkot which starts on Thursday.

‘Am I spokesperson of Babur, Jinnah, Aurangzeb?,’ asks Asaduddin Owaisi The AIMIM supremo raised concerns about the perceived alienation of the 17 crore Muslims in India by saying, "Today, 17 crore Muslims of India are feeling alienated, and the country does not need 'Baba Modi'". The Hyderabad MP demanded that the BJP come out with a clarification on whether the government has a 'religion of its own'.

₹9 crore as per early estimates. As per Sacnilk.com report, the film minted ₹9.50 crore on Day 2 with this taking the total collection to ₹16.20 crore net in India. Speaking of overseas collections, the film is Shahid Kapoor's biggest opener overseas grossing over $700k [and counting], including premieres, Film trade analyst Taran Adarsh said on 10 February.

Social media has been flooded with complaints of how people are being coerced into using the Digi Yatra app, which uses facial scanning biometrics. Is it really risky? And what do the stakeholders have to say about it? Suraksha P finds out. Akshay Gupta recently posted on social media platform X (previously Twitter) that he was denied entry at the Varanasi airport because he “did not follow the Digi Yatra lane”.

₹70 lakh for Hyderabad posting); Accenture ( ₹60 lakh), Asian Paints, and Emami Group ( ₹15-18 lakh). Amongst banks, Axis, ICICI, HDFC and IDFC have rolled out offers for ₹20-24 lakh. Government-run banks are raking in hefty profits.

The real estate sector is observably one of the most fragmented sectors in the country, engaging a large workforce and contributing around 7% to Indian GDP. Metro cities such as Mumbai and Delhi-NCR are gaining maximum traction due to being a hub for businesses. However, compared to other competitive metro markets, Hyderabad is set to become the most promising real estate destination in the country. As per a recent industry report, Hyderabad, along with Mumbai and Pune, will be driving growth in the real estate sector in 2024. The following are some of the key factors that will propel the city’s real estate to the next level in 2024.