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K Raheja Corp has acquired two prime properties including Bayside Mall, one of the early shopping malls of India, and Popular Press Building spread over more than half an acre in south Mumbai’s plush Tardeo locality for over Rs 355 crore. The company has bought these properties through its Ivory Property Trust from Jaydev Mody-led AAA Holding Trust. Ivory Property Trust has paid stamp duty of Rs 21.30 crore for the registration of the deal that took place on August 13. Bayside Mall has a basement, ground and two upper floors built over one-third of an acre. The mall, with a total built-up area of 17,345 sq ft, earlier had 105 units but now has 75 units following the amalgamation of certain units.

food processing sector received foreign direct investment (FDI) of USD 368.37 million till September of the current fiscal year, Parliament was informed on Thursday. Minister of State for Food Processing Industries Ravneet Singh Bittu in a written reply to the Lok Sabha said, Ireland invested USD 83.84 million, Singapore USD 48.45 million, Mauritius USD 41.65 million, the United States USD 38.60 million, Australia USD 20.18 million, and Mexico USD 9.59 million in April-September FY25. In FY24, FDI in food processing was USD 608.31 million.

The Employees' Provident Fund Organization (EPFO) received five certificates of merit for communication channels, E-proceedings: A case on use of information and communication technology in justice delivery, district outreach programme (Nidhi Aapke Nikat), multilingual call centres, and Prayaas — an initiative of handing over pension payment orders (PPO) to retiring members of the Employees' Pension Scheme, 1995 on the day of retirement itself. The awards were received by Ashok Kumar Singh, DG, ESIC, on behalf of EPFO.

Aditya Birla Fashion and Retail on Wednesday received a GST demand Of Rs 2.45 crore, said the company in an exchange filing. The breakdown equated to tax of Rs 76,96,963, interest of Rs 91,21,217 and a penalty of Rs 76,96,963. The company said there is no impact on financials, operations or other activities of the Company. It further said that the demand is not maintainable. The Company is the process of evaluating suitable course of action against the order.

real estate data analytic firm PropEquity, Jaipur saw the maximum 65 per cent rise in weighted average prices to Rs 6,979 per square feet in the housing projects launched during January-September this year. In the last calendar year, the average rates in Jaipur stood at Rs 4,240 per square feet. Samir Jasuja, Founder & CEO of PropEquity said, "Tier II cities have seen renewed interest from developers, corporates, financial institutions and investor community." The cheap availability of land in these cities followed by the massive development of connectivity infrastructure and strong demand has led to an increased supply of premium and luxury housing, he added.

Ericsson is working to introduce artificial intelligence agents in its telecom products and services, with the aim to make network operations autonomous. The company has established a global AI accelerator hub in North America, Sweden and India, where engineers are working to address gaps in its telecom products using AI, a top company executive told ET. “The initial struggle was to have the right kind of data, and mostly about proving that AI could add value. But over the last several years, we have moved past that and our focus has been on bringing AI into our products,” said Chandru Sargor who heads the Global AI Accelerator India team.

ITC is expanding its network of FPOs, further aiming to connect one crore farmers in the next 4-5 years and scaling up sourcing of fruits and vegetables through this platform, said its Agri Business Division CEO S Ganesh. ITC, present in around 22 states through FPOs (Farmer Producer Organizations) and working on 20 crops, has plans to expand and deepen it further in states including Madhya Pradesh, Rajasthan, Haryana, Punjab and Bihar. Besides, ITC is working on expanding the reach of its super app MAARS — a 'phygital' initiative with FPOs through which it is providing personalised advisories to farmers from weather forecast to sales of crops at mandi prices, supply of seeds and fertiliser and services as soil testing to helping them get credit from banks. Through MAARS (Metamarket for Advanced Agriculture Rural Services), ITC is also enhancing agricultural practices to small farmers through technology aggregation, AI-enabled solutions, AgTech and an e-marketplace for commodities and inputs.

Eurogrip Tyres, a leading brand specialising in two-wheeler, three-wheeler, and off-highway tyres, has appointed cricket legend Mahendra Singh Dhoni as its brand ambassador, on Thursday. As part of this collaboration, Dhoni will endorse the Eurogrip brand and its entire product portfolio, the company said. TVS Srichakra Ltd, the manufacturer of Eurogrip, TVS Eurogrip, and TVS Tyres, was established in 1982 and operates as a key vertical of the USD 3 billion TVS Mobility. M S Dhoni, known for his dependability, performance, and passion for riding, embodies the values that align with Eurogrip Tyres' vision of empowering riders with control and confidence on every journey, the company said in a statement.

Gautam Hari Singhania has been appointed as the Executive Chairman of Raymond Lifestyle after the textiles and fabric maker's shareholders approved the appointment proposal. The special resolution for the «appointment of Gautam Hari Singhania as an executive chairman» of the company and to fix his remuneration received 86.85 per cent of the total votes cast at the Annual General Meeting (AGM). The resolution was passed with requisite majority, according to the Scrutinizer's Report filed by the company to the bourses on Wednesday evening. Besides, the shareholders of the company also approved eight other special resolutions regarding the appointment of Independent Directors and Sunil Kataria as the Managing Director of the company.

Subscribe to enjoy similar stories. Torrent Power Ltd’s stock has gained more than 10% this week after it announced the opening of its qualified institutional placement (QIP), for which it set the floor price at ₹1,555.75 a share. The stock also seems to be generating greater interest since the recent listing of NTPC Green Energy Ltd, which is up about 30% from its issue price so far.

UnitedHealthcare CEO salary and bonus. 50-year-old Thompson had run the insurance arm of health care giant UnitedHealth Group Inc. since 2021 and had worked at the company for 20 years. The University of Iowa graduate who began his career as a certified public accountant had little name recognition beyond the industry. Even to investors who own its stock, the public face of the parent company belonged to CEO Andrew Witty, a knighted British triathlete who has testified before Congress.

Anurag Mehrotra, ex-managing director and president at Ford India, is set to join JSW MG Motor India as its MD, replacing Rajiv Chaba, CEO Emeritus, who is superannuating on 31 March 2025, said people aware of the movement. Mehrotra who till recently was serving as vice president, international business, and strategy at Tata Motors Commercial Vehicle, is likely to join JSW MG early next month. ET had reported in its 26 November edition that MG JSW has been on a look out for a senior resource who can replace Chaba.

inflation, and huge expectations to deliver. Will Shaktikanta Das, the longest serving RBI governor, continue to wage the arduous battle? While Das may well get an extension (perhaps for a year), no one would have asked the question even a few months ago.

drug samples tested for quality, 2,988 have been declared as not of standard quality and 282 were found to be spurious, according to government data for the year 2023-2024. Prosecutions were launched in 604 cases for manufacturing, sale and distribution of spurious drugs, the data revealed. The government has been running a major drive against spurious and substandard drugs. As per the data from the Central Drugs Standard Control Organisation (CDSCO) there are approximately 10,500 units in the country which are manufacturing different types of dosage forms and APIs. «The govt has been carrying out raids in pharmaceutical companies in various states and those which were found to be in violation of regulations and were issued show cause notices,» said a senior person in the know.

public sector banks (PSBs), other ministries and investigating agencies, including Central Bureau of Investigation (CBI), for expeditious and effective investigation in bank fraud cases. In a statement the finance ministry noted that enhance inter-departmental cooperation among different departments, CBI and PSBs for expediting investigation will have salutary deterrent effect and is likely to further catalyse resolution of stressed banking assets. «All measures were discussed for expeditious investigation in bank fraud cases,» it said noting that amendments made to Prevention of Corruption Act, 1988, to prevent investigation and prosecution of bankers for bonafide decisions has had a positive impact.

Vodafone Idea (Vi) has scheduled a board meeting on December 9 to consider upto a Rs 2,000 crore fundraise via issuance of equity shares and or convertible securities on a preferential basis to co-promoter, Vodafone Group Plc. The late night exchange filing came even as UK’s Vodafone announced plans earlier today to invest a portion of its residual 3% Indus Towers stake sale proceeds in Vodafone Idea (Vi) against fresh shares to help its Indian telecom joint venture with the Aditya Birla Group clear a portion of its old dues to Indus. “…a meeting of the Board of Directors of the Company is scheduled on December 9, 2024, inter-alia, to consider a proposal for raising of funds not exceeding Rs 2,000 crore, by way of issuance of equity shares and / or convertible securities on a preferential basis to one or more entities belonging to Vodafone Group,” Vi said in a late evening exchange filing.

Department of Telecom (DoT) has sought views on norms for allocating satellite spectrum from sector regulator Trai, Parliament was informed on Wednesday. The government has decided to allocate spectrum for satellite communication services through an administrative mechanism while telecom operators are required to purchase the radiowaves through auction. Minister of State for Communications, Pemmasani Chandra Sekhar in a written reply to the Lok Sabha said that spectrum assigned administratively are also chargeable and hence contribute to revenue.

Mutual Fund (MF) debt exposure to NBFCs, which includes their subscriptions to Commercial Papers (CPs) and corporate debt has hovered over Rs 2 lakh crore for more than six months. Their outstanding debt exposure touched Rs 2.33 lakh crore in October 2024, a year on year (y-o-y) increase of 47.1 percent. Though the break-up of iexposure to CPs and bonds Is not available, experts say that NBFCs have seen a higher growth in resources raised through bonds than CPs. NBFCs reduced issuances due to concerns on the sustainability of high growth in their loan portfolio, according to Care Edge Ratings. In comparison, bank lending to NBFCs, which has been a major source of funding for NBFCs rose 6.4% y-o-y growth which has reduced to nearly a third when compared to the growth rate reported in October 2023. Bank lending to the sector has remained in the range of Rs 14-15 lakh crore since November 2023 when the Reserve Bank raised risk weights on bank lending to NBFCs.

Assam Chief Minister Himanta Biswa Sarma announced that a Cabinet expansion would take place on December 7 next. Assam cabinet meeting on Wednesday approved the unveiling of projects worth Rs One lakh crore project Another decision taken by the Cabinet is to convert the four-lane stretch of road leading to Lokapriya Gopinath Bordoloi International Airport to a six-lane one. An additional amount for Rs.116 crore for the six-lane road has been allocated from the state budget. The estimated cost for the project will be Rs.474 crore. The Cabinet decided to institute a separate literary award after noted litterateur Dr Homen Borgohain for those who are getting government pension. A one-time assistance for Rs.50,000 will be given to those who are already receiving any other pension. It was decided that the monthly literary pension will be given to individuals except government employees.

«For UPI Lite, the enhanced limits shall be Rs 1,000 per transaction with Rs 5,000 being the total limit. Replenishment of used limit shall be allowed only in online mode with AFA,» said the central bank in a statement. UPI Lite is a wallet that allows users to make small-value transactions without using a UPI PIN. Currently, UPI Lite users have to manually reload their wallet balance from their bank account to continue making payments. However, with the new auto-top-up feature, the National Payments Corporation of India (NPCI) aims to streamline this process, eliminating the need for manual reloading.

Muthoot Microfin has reduced interest rates by 25 basis points for microfinance loans given for income generating activities and by 125 basis points for loans to buy third party products. Accordingly, the minimum interest rate for income generating loans is pegged at 23.05%. The rate can go up to 23.7%, based on borrowers' risk profile. This is the third rate reduction by Kerala-based Muthoot Microfin, a part of the Muthoot Pappachan group.