‘Christie’s broke multiple records for Indian artists’
Its regional buying from Asia has been very resilient, led by mainland China. New buyers coming from mainland China are up 30% and 2024 will be important in the Asian context. Asian buyers made up 28% of all buyers. Key Points
mintMore US home buyers willing to purchase despite high rates -BofA study
U.S. home buyers are becoming more willing to purchase properties even as interest rates stay high, according to a study by Bank of America (BAC.N) published on Monday. Key Points
ReutersWith India's new rules, home buyers will get much-needed relief and assurance
Amid rising real estate prices, concerns loom for home buyers fearing builder bankruptcy and legal woes, reminiscent of cases like Jaypee, Amrapali, and others. The insolvency of a single real estate group in Noida, Jaypee, has left nearly 20,000 home buyers awaiting the delivery of their homes. However, the Insolvency and Bankruptcy Board of India plans vital amendments to aid stuck home buyers and reassure new ones. Key Points
Economic TimesSuper rich Indians looking for second homes help Dubai cement status as world’s busiest luxury property ma
The number of sales for homes valued at $10 million or more reached a record 277 in the first nine months of the year, totaling $4.91 bn. Dubai's property sector is thriving due to the government's handling of the pandemic and liberal visa policies, attracting foreign buyers. The city's Palm Jumeirah was the most popular area for wealthy buyers, accounting for over half of luxury sales. Key Points
Economic TimesIndia's tea auction system under severe stress as buyers purchase teas privately
India's tea auction system is under strain as teas are increasingly being purchased privately. Buyers, both domestic and international, prefer private transactions for the longer-term credit options they offer, whereas auction purchases mandate payment within 13 days. This trend has prompted a 70% shift amongst large buyers towards private sales, leading to a reduction in auction competition and a negative impact on future private levels. Key Points
Economic Times
Holiday home demand tapers off as rentals fall
Goa is becoming a first-home market with interest from businessmen and startup founders. Luxury second homes are in demand, especially in locations like Porvorim. Coonoor Estates is developing high-end luxury homes for buyers looking to settle down. Key Points
Economic TimesResale property market booms amid price hikes, scarcity of ready homes
Sales of completed or nearing-completion homes by first owners are booming as demand outpaces market supply, with prospective buyers increasingly viewing the resale market as a viable alternative. Factors contributing to this trend include a scarcity of newly constructed properties ready for immediate occupancy, a dearth of new developments, and escalating price hikes in major markets. Key Points
Economic TimesTBO Tek IPO: Firm files DRHP with SEBI to raise ₹400 crore, offer for sale for 1.56 crore shares
IPO -TBO Tek Limited Files DHRP (draft red herring prospectus) with Securities and Exchange Board of India for fresh Issue Rs. 400 Crore & Offer for sale of 15.64 Million equity shares Key Points
mintTBO Tek IPO to open for subscription on May 8. Check details
TBO Tek IPO includes fresh equity of Rs 400 crore and an offer for sale of up to 1.25 crore shares. Under the OFS, promoters Gaurav Bhatnagar, Manish Dhingra, LAP Travel, and other selling shareholders TBO Korea, Augusta TBO will offload the shares. Key Points
Economic TimesAmazon Great Indian Festival Sale 2023: Kickstarter Deals on Samsung Galaxy S23 5G, Fire-Boltt Asteroid smartwatch, more
Amazon's Great Indian Festival Sale 2023 offers up to 89% discounts on gadgets like smartphones, laptops, and smartwatches. SBI cardholders get an extra 10% discount. Some highlighted deals include the Samsung Galaxy S23, OnePlus Y Series TV, ASUS Vivobook S15, and more. Key Points
mint
Govt to organize workshops on online procurement in UP
The Buyer-Seller Workshops will start from 31 August 2023. The move will enhance the understanding of GeM’s functionalities among buyers and sellers in the state. Key Points
mintMankind Pharma director sells South Delhi bungalow for ₹91 crore
In Vasant Vihar, plot sizes range from 450 square meters to 2,000 square meters, and many of them have become available for sale after the lifting of the lockdown, said an industry expert. Numerous individuals are now seeking to liquidate their assets. The advantage of larger plots in South Delhi is that buyers can redevelop the land and construct up to four floors, a privilege not permitted in Lutyens' Delhi. Key Points
Economic TimesMarkets end flat in volatile trade amid weak trends in global equities
Foreign Institutional Investors (FIIs) were net buyers on Monday as they bought equities worth Rs 2,123.76 crore, according to exchange data. Key Points
FinancialexpressMHADA issues OCs to two Patra Chawl Scam-impacted private projects
MHADA has granted occupancy certificates to two Mumbai projects impacted by the Patra Chawl Redevelopment scam, providing relief to over 1,700 home buyers who had waited for their homes for up to 10 years. The Bombay High Court had earlier directed MHADA to issue OCs to completed projects, and the third private project, The Luxor, is also likely to receive an OC. However, Patra Chawl tenants are unhappy with the decision, as they have not received their homes since 2010, and plan to move the Supreme Court against the order. | Mumbai news Key Points
Hindustan TimesFPIs lap up Indian equities worth Rs 35,000 crore in March
Foreign portfolio investors were net buyers in March, with equity purchases worth Rs 35,098 crore, showing improvement from previous months. Strong buying trends were seen in various sectors. Key Points
Economic Times
As car buyers get younger, richer, Indian automobile market shifts from functionality to aspiration
With increasing 'you only live once' outlook among buyers, carmakers & advertisers have changed communication strategies. Financing, better income are majorly driving auto sales. Key Points
ThePrintQatar set to sign cheaper long-term LNG deal with India
India Business News: Qatar Energy is set to sign a long-term deal with Indian buyers for liquefied natural gas (LNG) on cheaper and more flexible terms. The deal aims to meet India's goal of increasing the use of LNG and raising the share of natural gas in the country's energy mix. Key Points
Times Of IndiaForeign investors turn net buyers for first time in CY23, pump in Rs 3450 cr in 4 days; what’s ahead for FPIs?
Analysts attribute it to the GQG investment in Adani Group companies and other bulk deals that took place in March and the narrowing current account deficit (CAD) from 4.4% in Q2 FY23 to 2.2% in Q3 FY23. Key Points
FinancialexpressOver 7,500 global buyers to participate in three-day mega food show
New Delhi, Jan 7 (PTI) Over 1,200 exhibitors and more than 7,500 global buyers will participate in the three-day mega food show in Greater Noida, Uttar Pradesh, beginning Monday. Commerce and Industry Minister Piyush Goyal will inaugurate the seventh edition of Indusfood 2024, Trade Promotion Council of India (TPCI) said in a statement. Indusfood is […] Key Points
ThePrintCaledonia Investments solicits bids for $585 million wealth manager 7IM, sources say
Caledonia Investments (CLDN.L) has given prospective buyers until the end of the month to table indicative offers for wealth manager 7IM, two people familiar with the matter told Reuters, in the latest chapter of consolidation in Britain's money management industry. Key Points
Reuters/cloudfront-us-east-2.images.arcpublishing.com/reuters/NHYKTULSTVMGDE2BZLDCLEU2NI.jpg)
UK's Barratt to build fewer homes in 2024
Britain's largest homebuilder Barratt Developments (BDEV.L) said on Thursday it would build far fewer homes this fiscal year as mounting worries over mortgage affordability and persistent inflation drive buyers away. Key Points
ReutersSGX Nifty down 10 points; here's what changed for market while you were sleeping
Foreign portfolio investors were net buyers for the second straight day at Rs 1,714 crore. DIIs net sold shares worth Rs 654 crore on Wednesday. Key Points
Economic TimesMankind Pharma IPO Day 1: Issue subscribed 14%, HNIs subscribed one-third of quota
Qualified institutional buyers (QIBs) subscribed for 8% of their reserved portion. Retail investors bid 14,39,737 times of the shares reserved for RIIs. Key Points
FinancialexpressApple iPhone 14 is available at ‘lowest-ever’ price on Flipkart: Details inside
Buyers can choose from multiple colour variants of the iPhone 14. These include Midnight, Purple, Starlight, Product RED, Yellow and Blue colour variants. Key Points
mintRussian oil gets pricier as pool of buyers from India, China expands
ESPO oil from the nations Far East has been a particular favourite due to its short shipping distance. Offers for ESPO thats typically loaded at Kozmino port was close to $6.50 to $7 a barrel below ICE Brent on a delivered basis to China, while flagship Urals shipped from western ports was around $10 under the same benchmark, said traders. Key Points
Economic Times
ED conducts raids at 10 locations in Bulandshahr linked to arrested 'land mafia' Sudhir Goyal
UP Police arrested Goyal & 4 others, including his wife, on 15 December for alleged fraud to the tune of Rs 100 cr. ED is investigating all five for money laundering, it is learnt. Key Points
ThePrintThe story behind Kanye West's decision to sell his Malibu home at a loss
Kanye West, now Ye, lists his Malibu mansion at a loss of $4 million, designed by Tadao Ando. Jason Oppenheim markets the property at $53 million, emphasizing customization potential. Amid controversies, Ye's 11th album Vultures addresses recent issues, adding intrigue to this architectural marvel. Key Points
Economic TimesIndia's new-age car buyers are opting for brighter, single-model shades that define brands, personality
Some colours go well with the brand value we are trying to communicate, said Shashank Srivastava, senior executive officer, marketing and sales, Maruti Suzuki India, the country's biggest carmaker. We zeroed in on the Nexa Blue, after going through colours prevalent at fashion shows at the time, to connote sophistication and elegance. Key Points
Economic TimesED searches DLF’s Gurugram office in connection with money laundering probe against Supertech
Agency did not officially comment on DLF’s connection with the Supertech case. The searches are connected to the inquiry into the money diverted by Supertech builders, it is learnt. Key Points
ThePrintTesla rolls out global customer referral incentive as EV price war heats up
Electric-vehicle maker Tesla (TSLA.O) rolled out a new program globally allowing buyers to earn extra incentives through referrals from existing customers, a strategy long used by traditional automakers to boost sales. Key Points
Reuters
Poshn launches new platform in food and agriculture segment
Poshn, an agri-trading platform, has launched Poshn Nucleus, a technology platform to match a buyers procurement demands with the most likely fulfilment partner. The company aims to onboard more than 300,000 wholesale small and medium-sized enterprises sellers on the platform within the next year. The proprietary technology uses machine learning, data, and analytics to distribute commodities and will enable reverse auctioning, order and payment processing, logistics optimisation and traceability across the value chain. Key Points
Economic TimesIndia set for LNG deal-making rush in win for Modi’s gas push
Importers are accelerating efforts to lock in fuel, according to traders and executives. buyers including Petronet LNG Ltd., GAIL India Ltd. and Indian Oil Corp. are in talks with suppliers in the US, Qatar and the UAE for deals that last for 20 years. The trend is a reversal for the nation, which hasnt signed a long-term deal since 2021, according to contract data from BloombergNEF. Key Points
Economic TimesTie-breaker? April likely to bring make-or-break moment for Dalal Street bulls
One can safely say that it was a close fight between Dalal Street bulls and bears, as benchmark Nifty 50 eked out 0.3% gain month-on-month in March, thanks to the 2% gains on the last trading day of the month. Key Points
Economic TimesSunroof Surge: India's buyers drive demand, prompting carmakers to elevate the roof game
Once considered a luxury feature, currently more than one out of every four cars sold in the local market is equipped with a sunroof, up from just about 7% five years ago. In models where the feature is available, sales are even higher at 55%. Be it premium hatchbacks, sedans or fast-moving sport-utility vehicles, demand for sunroofs is on the rise in a predominantly tropical country. Key Points
Economic TimesTReDS platform operators welcome RBI’s directive to ease MSME invoice discounting, boost liquidity
Credit and finance for MSMEs: Currently, financiers such as banks, NBFCs, and others bid on the invoice at discounted rates depending on the buyer’s rating. Usually, financiers give credit limits only above BBB and AA or AAA-rated buyers and shy away from buyers with credit ratings below BBB. Key Points
Financialexpress
India basmati rice exporters get requests for early shipments
After India banned exports of non-basmati rice to cool local prices, buyers have requested early shipments of basmati rice, according to industry officials. They are fearful that the government may halt basmati exports too. The industry has assured buyers that the government has no plans for a ban but some remain wary. Key Points
Economic TimesBest tablets under ₹15000: Our top 8 picks will transform how you meet your quick computing needs
Looking for affordable tablets? Here are the top 8 picks under ₹15,000 that offer great performance for quick computing needs. These budget-friendly options are perfect for entertainment, productivity, and everyday use without breaking the bank. Key Points
mintSmall cars likely to stage a comeback by 2026 amid rising entry-level incomes, says Maruti Suzuki chairm
Maruti Suzuki chairman RC Bhargava anticipates a revival of small car sales by 2026, driven by rising income levels among entry-level consumers and the transition of scooter and motorcycle owners to cars. Despite a recent surge in SUV sales and a decline in small car demand, Bhargava believes that the affordability of small cars will become more manageable for buyers as their purchasing power increases. Key Points
Economic TimesLot more women take the driver's seat in SUVs now
The share of women SUV buyers has climbed 4.5 times from five years ago amid a growing preference for vehicles with high ground clearance and higher seating. It jumped from only 29,000 units in 2018 to 125,000 units in 2023, data from industry sources showed. Key Points
Economic TimesHousing prices jump 8.4% in Chennai in Q3; how much have residential property rates increased in your city
With an 8.41% year-on-year increase in Q32024, Chennai witnessed the highest growth in the Housing Price Index. The central bank released the All-India Home Price Index (HPI) based on transaction-level data received from the registration authorities in 10 major cities. Check how much home prices have increased in your city. Key Points
Economic Times
JSW Steel in talks for $1 billion stake in Australia's Blackwater coal mine
“Two parties – one from Japan and one from India – may be about to surface as buyers of a stake. While the identities are unknown, sources pointed to steel producer JSW Group of India or Nippon of Japan,” the Australian Mine Safety Journal reported. Key Points
Economic TimesGreece to raise Golden Visa investment amount in areas where rent is high
Greek Prime Minister Kyriakos Mitsotakis is considering raising the minimum investment required for foreign property buyers to be eligible for a Golden Visa. The proposed measure aims to manage the surge in demand for housing and target areas with higher rental prices. Key Points
Economic TimesPlanning to buy a property? Rera has issued a warning. Read this before investing
The Real Estate Regulatory Authority (Rera) in Uttar Pradesh has reminded developers and buyers about the payment module for projects. According to UP-Rera Act, developers are not allowed to take more than 10% advance payment before the sale agreement is executed. The sale agreement should include project details, payment dates, and possession information. Additionally, developers have been directed to sell units based on carpet area only, not super area. Key Points
Economic TimesMG Motor offering huge discounts on Comet EV and ZS EV SUV
The discount list for December 2023 covers MG's entire car and SUV lineup, including the Comet EV and ZS EV SUV. Potential buyers can take advantage of these discounts until December 31, 2023. Key Points
Economic TimesUK's new car sales up 9.5% in November as fleets snap up latest vehicles
International Business News: New car sales in Britain grew 9.5% YoY in November, nearing pre-pandemic levels as fleets invested in the latest vehicles. The Society of Motor Manufa Key Points
Times Of India
Rice on cusp of fresh 15-year high in Asia after sharp rebound
Rice prices are approaching a 15-year high, with Thai white rice 5% broken, an Asian benchmark, rising $57 in the past two weeks to $640 per ton. Factors contributing to the surge include increased demand from unexpected buyers like Brazil and the Philippines, higher domestic prices, and a stronger baht. Key Points
Economic TimesIndians dethrone British to become largest real estate investors in Dubai
The Betterhomes Residential Market Report showed Indians topping the nationalities list in the June and September quarters - up from No. 2 in the first quarter when Britishers led the field - in the purchase of new homes for end-user demand or investors seeking better yields and Golden Visa eligibility. Indians have consistently been among the top five homebuyers in Dubai. Key Points
Economic TimesAdvantage industrial recovery: 4 stocks from manufacturing sector with upside potential of up to 35%
B2B is normally associated with the digital world, but there are many companies whose products go as consumable or what is commonly called as raw material in the manufacturing sector. So for companies which are into supplying industrial consumables it is not an easy task. However there is an advantage to it also. Once the supply contract is settled, buyers also don’t disturb their relationship with suppliers. Key Points
Economic TimesHNIs, startup founders' demand for super luxury homes in Bengaluru causes scarcity
The scarcity of luxury homes in Bangalore's Silicon Valley is posing a challenge for high-net-worth individuals, including startup founders, who are looking to invest in the city. Property brokers have noted that there is a lack of ready-to-move-in inventory or nearing-completion assets in this segment. However, the demand for luxury properties remains high, driven by senior management and startup founders who have liquidated their ESOPs. Prices for prime localities have also increased, with areas like Koramangala 3rd block selling at Rs 60,000 per sq ft. The trend of purchasing luxury homes is expected to continue in the coming years, fueled by the growing startup ecosystem in India. Key Points
Economic TimesLuxury car sales in top gear, but hatchbacks hit the brakes
Cut to the small car segment. Sales of Maruti Suzuki Alto, which once dominated sales charts across segments, halved year on year in the quarter ended September at about 24,000 units. Overall, sales of small cars (vehicles with length less than 3.6 metres) — already on the decline – crashed by 55% last quarter whereas sales of BMW X1 (which also comes in diesel and petrol options) grew 56% on year. Key Points
Economic Times
Plaza Wires IPO fully subscribed within 80 minutes of opening
At 11.20 a.m., the public issue was subscribed 1 time, while the category reserved for retail investors garnered a whopping 6.64 times bids. The portion for NII was subscribed 37%. There were no bids from qualified institutional buyers so far. Key Points
Economic TimesMotown Inc may get Rs 50,000cr fuel to drive green technology
The Indian government may allocate up to Rs 500 crore to promote green technologies in the automobile sector, according to Ministry of Heavy Industries memos. The funds could be used to launch the next phase of the Faster Adoption and Manufacturing of Hybrid & Electric Vehicles in India (FAME) scheme, incentivise green technology manufacturing or provide vehicle buyers with support. Key Points
Economic TimesG20 sherpa Amitabh Kant-led panel moots rehab package by states for stalled housing projects
In its several recommendations categorised under seven separate heads, the panel also recommended banks and financial institutions be permitted to finance fresh housing loans for new buyers purchasing unsold inventory in such stalled projects. This would ensure the flow of funds to stalled projects from the inventory of unsold flats. Key Points
Economic TimesGIFT Nifty up 15 points; here's what changed for market while you were sleeping
FPIs turn net buyers at Rs 1,088 crore after two days of selling. DIIs sold shares worth Rs 333 crore on Tuesday. Key Points
Economic TimesDalal Street hits fresh highs driven by strong FPI buying activity
India's domestic stock benchmarks, the Sensex and the Nifty, reached new highs, driven by increased investments from foreign investors who view India as a bright spot in the global economy. The Adani Group, along with stocks in the metals, auto, and financial sectors, led the surge. However, analysts have cautioned that India's equity valuations have become rich, which may limit further upside potential. Foreign portfolio investors turned net buyers after several sessions of selling, contributing to the rally. Overall, sentiment is positive in global equities following upbeat US economic data. Key Points
Economic Times
$2.7 bn in 14 days! FII buying on Dalal Street longest in 3 years: Nilesh Shah
Foreign institutional investors (FIIs) were net buyers of Indian equities for 14 straight days, the longest streak in 3 years. This positive trend is likely due to several factors, including the Reserve Bank of India's decision to pause rate hikes, the March quarter earnings of companies not bringing any big shocks to Dalal Street investors, and the US Federal Reserve's indication of a likely pause in interest rates. However, experts caution that the Fed's indications of a possible recession could impact FII flows Key Points
Economic TimesFlipkart Big Bachat Dhamaal Sale: Deals on smartphones you shouldn't miss. Google Pixel 7a, iPhone 14 and more
The e-commerce platform is also offering great deals on electronics, earphones, smartwatches and other gadgets. The sale started on May 19 and will end on May 21, 2023. Here are some of the best deals on smartphones you should not miss. Key Points
mintMarkets climb in early trade on continuous foreign fund inflow
Benchmark indices extended their winning run on May 9, in the morning, helped by continuous buying from foreign institutional investors and on signs that recession fears in the U.S. are easing. Key Points
The HinduMarkets rebound in early trade amid foreign fund inflows, rally in U.S. equities
Equity benchmark indices began the trade on a firm note on Monday amid continuous foreign fund inflows and rally in the U.S. equities. Key Points
The HinduIraqi oil to India gets cheaper as competition From Russia bites
India Business News: The price of crude from Iraq averaged $76.19 a barrel, compared with $78.92 in January, according to data published by India’s ministry of commerce an Key Points
Times Of India
Tesla cuts prices on all models for third time this year
Tesla cut prices on its entire U.S. electric vehicle model lineup for the third time this year in an apparent effort to lure more buyers amid rising interest rates. Key Points
The Tribune IndiaOil buyers reel from OPEC+ cuts as they explore alternatives
The shock decision from Riyadh and some of its partners came just before the release of Saudi Arabian Oil Co.s official selling prices, or OSPs, for May crude sales. Term buyers of Saudi crude expressed some concern about their ability to get the volume and type of oil they want from Aramco next month after the announcement of a 500,000 barrel-a-day curb by the Kingdom. Key Points
Economic Times