Citi Financial News

pensioners. 1) Jeevan Pramaan portal 2) “UMANG" Mobile app 3) Doorstep Banking (DSB) Agent 4) Biometric devices at Post offices 5)Video-based Customer Identification Process 6) Face Authentication 7) Physical Life Certificate forms at Branches To spread awareness amongst all the Central Government pensioners as well as the Pension Disbursing Authorities for the use of DLC/Face Authentication technology to submit Digital Life Certificates, DoPPW launched a nationwide campaign which will be held from 1st to 30th November, 2023 in 100 cities across the country, targeting 50 lakh pensioners.

The festive season is finally here and, as always, real estate developers have started betting big on it. Buyers prefer making big-ticket purchases during this period as it is considered auspicious by a majority of them. Sales of all kinds of things soar during the festive time — including those of real estate. Thankfully, housing sales in the nation’s top 7 cities have already remained at an all-time high in Q3 2023, denoting a 36% annual growth at over 1.20 lakh units, and are expected to rise further during this time despite rising property prices.

Sunil D'Souza, MD & CEO, Tata Consumer, says “cash flow conversion is up 100 bps and we remain on track to deliver 95% to 100% of EBITDA to cash for the full year. As for ROC, which you have kept mentioning as our bugbear, is up by 210 bps, hopefully that trajectory continues even on the strategic front and that is the key to delivering good numbers, staying focussed on the strategic pieces, staying focussed on the basics and executing them well. ” These numbers are good, solid and they deserve a table thumping applaud. It is a rarity when we say that FMCG companies are beating estimates. How have you managed to beat the peers and analyst estimates? We have delivered a decent set of numbers. Just to highlight, topline was up 11%, EBITDA was up 30%. Group net profit was minus 7% but if I offset the one-time land sale that was there last year, net of exceptionals, we are up by 24%. EBITDA is up 220 bps. We are seeing volume growth across all the businesses. Growth businesses in India are firing at 40, international is up 13%. Gross margins across all businesses more or less where they should be, bar the US where we have got a little bit of work to do.

Donald Trump’s eldest sons, who took over day-to-day management of his real estate empire when he became president, are scheduled to testify in the New York civil fraud case that threatens their company’s future

The exodus of tens of thousands of professionals from Hong Kong, triggered by Beijing’s crackdown on its civil liberties, is being offset by new arrivals: mainland Chinese keen to move to the former British colony

A panel of judges has ruled that it was unconstitutional for Tennessee lawmakers to pass a state takeover of Nashville International Airport’s board without approval from city officials or voters

Danish energy developer Orsted is scrapping two large offshore wind power projects off the coast of New Jersey, adding uncertainty to a nascent industry the Biden administration is counting on to help transition away from the burning of planet-warming ...

Protests in Panama have extended into a second week over a long-term copper mining concession for a Canadian company

South Korea’s Busan city is officially seeking operators for its forthcoming Busan Digital Asset Exchange.

It’s slow going at Aussie Broadband as it tries to stitch up a $100 million-plus equity raising to go alongside its $262 million acquisition of software business Symbio.

Dipan Mehta, Director, Elixir Equities, says “one should never analyse L&T on a consolidated basis because due to the software business and the NBFC, you will never realise that value. L&T is never going to sell off those stakes and unlock value for its shareholders and those companies are already listed. So, I do not want to double count them when I am doing the valuation calculation for L&T. If you start to value only the EPC business and the unlisted subsidiaries, then it is a slightly reasonable valuation.” We have been talking quite extensively about the real estate space as well as a whole, the kind of promising opportunity given that there are a few formidable players in New Delhi, Gurgaon, etc. Is there a ripe opportunity still at play when it comes to real estate? At corrections, why not? And, although a lot of the real estate stocks are quoting at or around their net asset value, the fact is that the opportunities are keeping on growing for the sector and these companies and I have seen quarter after quarter because of either joint development agreements or because of price increases or acquisition of land bank, these companies have started to report even higher and higher net asset value or the net realisable value of these companies.

leopard park will be established in Behrampur village as part of a conservation plan for a 15-kilometer stretch of the Aravalis from Bandhwari landfill to Damdama Lake in the city, according to a report published by The Times of India. The Jhalana Leopard Safari Park in Jaipur will serve as the model for the development of the leopard park, which is anticipated to be a long-term solution to the problem of big cats straying into the city. Authorities were informed to assign an organization to conduct a study of the Aravalis, with the goal of completing the study by March next year.

Macquarie is conducting “unexpected serial layoffs” at its banking and financial services arm, creating unease about the breadth of the job cuts.

Montreal were arrested in New York City Monday for allegedly conspiring to illegally ship $13.9 million worth of restricted technology to the Russian military.Some of the components that the Montrealers obtained through front companies later ended up in advanced Russian weapons systems and spying equipment found on battlefields in Ukraine, according to Breon Peace, the United States Attorney for the Eastern District of New York.Peace unsealed a criminal complaint that identified the two Montrealers who were charged in the case as Nikolay Goltsev, 37, and Kristina Puzyreva, 32.A third Russian man, Salimdzhon Nasriddinov from New York, was also charged.“These defendants are alleged to have illegally exported millions of dollars in electronics to support the Kremlin in its ongoing attacks of Ukraine,” said Ivan J. Arvelo, Special Agent in Charge of Homeland Security Investigations in New York.The charges follow a major probe by the Department of Homeland Security, the Federal Bureau of Investigation, U.S.

Bharti Airtel reported healthy subscriber additions and a 1.5% quarter-on-quarter rise in ARPU, brokerages maintained a buy rating on the stock saying that moderating capex will support deleveraging of $7 billion over FY25-26 which should add to stock returns. «Bharti's encouraging performance continued in 2Q with higher postpaid/4G subscriber additions, higher margin in India, higher growth in Africa and strong FCF generation being the key highlights. We maintain our rev/Ebitda estimates and expect Bharti to deliver 16/17% India revenue/EBITDA CAGR over FY24-26,» Jefferies said. The stock was trading 0.5% down on BSE on Wednesday at Rs 910 after the company reported a 37% year-on-year fall in its net profit to Rs 1,341 crore.

Infibeam Avenues has acquired an entire ground plus 10-storey commercial tower, which was being developed by textile manufacturer Sintex Group as its headquarters in Ahmedabad, for Rs 90 crore, said persons with direct knowledge of the development. In March, Reliance Industries completed its Rs 3,567-crore acquisition of Sintex Industries, exactly a year after banks had approved the acquisition and a month after the National Company Law Tribunal (NCLT) approved the transaction. This under-construction office tower with 400,000 sq ft space being built on 1.7 acres was not part of the resolution as one of the lenders had already taken charge of the property to recover its dues even before the resolution process had started. “The non-banking finance company (NBFC) had taken over the ownership of the property through a trust called Aavas Trust that decided to divest the property on an ‘as is where is basis’ through Swiss auction method,” said one of the persons mentioned above. International property consultant JLL as the exclusive transaction advisor had invited bids for the property with a base price of Rs 76.5 crore. After receiving bids from a few interested parties, the under-construction property on a freehold land parcel at Ahmedabad’s Vaishnodevi Circle was sold to the highest bidder, Infibeam Avenues, and the deal was registered on Monday. ET’s separate email queries to Infibeam Avenues, Sintex Industries, and transaction advisor JLL India remained unanswered until the time of going to press. Infibeam Avenues is expected to complete the construction of the newly-acquired commercial tower.

Dracula. «He was a Romanian prince, not a vampire,» said the schoolboy, as he tripped by torchlight through the nocturnal gloom of Forchtenstein Castle. The group being guided through the Austrian fortress are eager to sink their teeth into the gripping life of Vlad Tepes, the notorious «Vlad the Impaler», whose descendants once held the schloss. The castle is home to one of the few paintings of the cruel 15th-century prince, and this Halloween its curators are trying to bring the real historical figure out from the chilling shadow of the monster invented by the Irish writer Bram Stoker. Rather than being a ghoulish fiend, the real Vlad Tepes had for a «long time gone down in history as a positive figure» who courageously fought the Ottoman Turks, said the director of its collections, Florian Bayer. «More and more people are able to distinguish between the bloodsucking vampire and the historical figure,» he said. Voivode Vlad III — also known by his patronymic name Dracula derived from the Slavonic word for dragon — once ruled over Wallachia, a Romanian-speaking vassal state of the Kingdom of Hungary.

LPG cylinders by ₹100 in various locations throughout the country. It is to be noted that this marks the second price hike for commercial LPG cylinders in the past two months. The hike will come into effect from November 1.

rising levels of pollution in Delhi and NCR regions, that begin with the change in season. From today, all buses that operate between Delhi and other cities/towns of Rajasthan, Haryana and Uttar Pradesh that fall in the NCR region, must either be an electric vehicle, CNG, or BS-VI diesel buses. The directive also mentioned that the buses that will ply between non-NCR areas of Rajasthan to Delhi should be EVs, CNG, or BS-VI diesel buses from January 1, 2024.

Yogi Adityanath on Tuesday watched 'Tejas', a film starring Kangana Ranaut, here. The special screening of the action thriller film, directed by Sarvesh Mewara, was held at the city's Lokbhavan Auditorium. Ranaut shared a series of pictures from the film's screening on her official X page.

reported that the union government is planning to allow Indian companies to list overseas directly. Speaking at an event in Mumbai, the finance minister Nirmala Sitharaman said the government has decided to allow companies to list at the International Financial Services Center (IFSC) GIFT City to start with before expanding this to other countries.