Parke Financial News

Ventive Hospitality, a joint venture between the world's largest private equity firm Blackstone Group and Pune-based Panchshil Realty, is looking at filing a draft prospectus for an initial public offering in the next couple of weeks, according to sources close to the development. The JV, which could be the largest international multi-brand hotel owner in India by Ebitda, plans to raise around ₹2,500 crore through a fresh issue of shares.

Investors are continuously increasing their contributions towards systematic investment plans (SIP). Data show that inflows through SIPs have increased every month touching ₹23,332 crore in July 2024, as compared to ₹15,814 crore in August 2023. HOW CAN A SIP INVESTMENT BE INCREASED? Investors can increase their monthly SIP contribution by adding money to their existing mutual scheme or choosing a new fund for their portfolio. They can schedule the additional amount on the existing SIP date or any other convenient date. Choosing different dates helps in spreading the investments over the month.

Angel One is set to appoint Arief Mohamad as its new chief business officer, two people in the know said. Mohamad has already put in his papers at Flipkart, where he was heading the fashion vertical, the second person added. According to his profile on social media platform Linkedin he has spent close to a decade at Flipkart, having joined the ecommerce major back in September 2015.

A former state employee who said he leaked information about the plans to build golf courses and hotels in Florida’s state parks has apparently been fired

As they position themselves for a possible new domed stadium, the Cleveland Browns are renaming their current one

Prestige Estates Projects’ subsidiary Prestige Exora Business Parks has bought out its partner’s development rights, and land parcel spread over more than 4.5 acres in Pune’s Kharadi locality for over Rs 200 crores. The Prestige Group entity had entered into a joint development agreement with the landowner B U Bhandari M&M Realtors LLP through a pact inked in July 2017. Both had agreed to jointly develop the plot out of a larger land parcel. In March, both the entities amended certain terms and conditions of the joint development agreement. In furtherance to the joint development pact and supplementary agreement, the landowner has now sold and transferred the land along with entire development potential to the Prestige Group company.

Raymond shares surged 9% to hit a high of Rs 2,182 on the NSE on Tuesday ahead of the listing of its lifestyle business which is expected this week. Brokerages see this as a transformative move for the company which is synonymous with legacy brands such as Park Avenue, Raymond, Parx and ColorPlus. Brokerages like Motilal Oswal and InCred which were part of the investors’ meet remain optimistic about the company's prospects.

Adarsh Developers is close to a financial turnaround, as it repaid a Rs 750 crore structured finance facility from Edelweiss Alternative Asset Advisors raised in 2022. The repayment, aided by operational cash flow and lower-cost refinancing from banks, has helped the Bengaluru-based company reduce its cost of funds by 8-9 percentage points. The initial funding from Edelweiss, raised at over 20%, was used for reviving its residential projects and generating liquidity. Edelweiss had lent the money in two tranches, with Rs 450 crore in the first instalment. While Adarsh Developers used part of the Rs 1,900 crore it raised from a land sale to Mapletree Investments earlier this year to repay Rs 450 crore, it continued to finance the remaining debt.

Realty developer Omaxe Group has lined up Rs 2,500 crore to develop a sport centric project in Delhi’s Dwarka, company’s managing director Mohit Goel told ET. The project will include a cricket stadium in addition to retail and hospitality development. It has won the bid to develop 50.40-acres of land from the Delhi Development Authority (DDA). Omaxe will pay Rs 18 crore to the authorities every year for the next 30 years.

walking is also an extreme sport. We are not alone. Huzzah! Athenians have taken to social media to demonstrate how navigating their 'mean streets' is more like competing in an obstacle course.

photography. Shreyovi Mehta, a Class Five student from Faridabad near Delhi, has now bagged the much-coveted Wildlife Photographer of the Year award. Shreyovi managed to capture the photo of a pair of peafowls, while she was on a morning walk in the forests of Keoladev National Park in Bharatpur, Rajasthan.

iPhone 16 variants will be introduced at the company's September 9 event at Cupertino-based Apple Park. The iPhone 16 and 16 Plus could come with the same 6.1-inch and 6.7-inch OLED displays with a 60Hz refresh rate. Meanwhile, the iPhone 16 Pro and Pro Max could come with larger 6.3-inch and 6.9-inch displays, respectively.

Labor Day 2024 in USA is on Monday, September 2 as Americans are busy in travelling to favourite spots. Labor Day is recognized as federal holiday. Labor day date changes from year to year as last year the occasion fell on September 4. Next year, Labor Day is on September 1. Labor Day celebrations began in September 1882 in New York after unions organized parade. On Labor Day 2024, people in the USA can send each other wishes, message, greetings over SMS, WhatsApp, Instagram, and Facebook. Here are a few online messages that one can send.

Indian Banks' Association is likely to ask the central bank to reduce the amount of additional funds lenders will need to set aside against some retail deposits and also seek a delayed and gradual implementation of the proposal, seven sources told Reuters. The Reserve Bank of India in July proposed an additional 5% 'runoff' requirement on retail deposits enabled with internet and mobile banking facilities to bolster the liquidity resilience of banks. The RBI had sought feedback on the proposal until Aug. 31, after which it would finalise them for implementation from April 2025.

Macrotech Developers has acquired two companies operating in the warehousing sector for nearly Rs 96 crore. The realty developer has Acquired Opexefi Services and One Box Warehouse for Rs 46.67 crore and Rs 49.09 crore, respectively. By acquiring 100% equity in both companies, Macrotech Developers is aiming to expand its logistics park and warehouse development vertical, strengthening its presence in the sector.

Recognising a critical gap in the real estate market, Credvest has designed Parking Capital to serve developers and investors. Developers gain access to essential capital and resources necessary for land acquisition, fostering growth in micro-markets. Simultaneously, investors can enjoy the opportunity to earn passive income through lucrative returns from real estate bonds offered by Parking Capital. Parking Capital is committed to thorough due diligence, encompassing financial, legal, and physical aspects. With pre-determined exit strategies tailored to individual investment capacities, investors can choose from monthly, quarterly, or annual interest payout options, ensuring flexibility and reliability.

In an interview with ETMarkets, Somaiyaa said: “FII outflows might occur due to the negative outlook on US equities, and some market downside is expected. But with a lag, as currency dynamics shift, we should see significant FII inflows” Edited excerpts:

Dispatching errors and the failure of two backup systems allowed a Union Pacific train to slam into 74 railcars that had been parked on a side track for nine months in Southern California in 2022

A former insurance agent who posed as a securities broker – without the appropriate licenses – has become the target of the Maryland Securities Commissioner after he took $100,000 from elderly customers and never returned it to them.

Jaguar is telling owners of about 3,000 electric SUVs to park them outdoors and away from structures due to the risk of battery fires

Electric vehicles (EVs) have become popular because of several reasons, including zero tailpipe emission, which reduces pollution, and gives better fuel efficiency, which keeps customers’ expenses down. According to the latest Vahan data, EV sales stood at 178,948 units in July, marking a strong year-on-year increase of 53%. This is also the second-best performing month for EV sales in the calendar year to date, after March of FY2024 at 213,036 units, showing buoyant interest among buyers. However, EVs have also been in the news every now and then for catching fires and other problems. These raise significant concerns about the trustworthiness of EV technology, depressing its growth in India.