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Enthused by strong housing demand, realty firm Godrej Properties Ltd has acquired 18 land parcels last fiscal for development of new projects with an estimated sales potential of around Rs 32,000 crore. Mumbai-based Godrej Properties, which is part of business conglomerate <keyword id="133008" type="General" weightage="20" keywordseo="godrej-group" source="Orion">Godrej Group</keyword>, had given a guidance that for future development it would add land parcels that have sales revenue potential of Rs 15,000 crore. However, the company's new business development, which means addition of new land parcels, jumped more than two-fold of annual guidance. Godrej Properties acquires land outrightly and also enters into joint development agreements (JDAs) with landowners to create a pipeline of future projects and expand its business. In a recent regulatory filing, the company presented its operational performance for 2022-23. Godrej Properties highlighted that it has added "18 new projects in FY23 with a total estimated saleable area of nearly 29 million square feet and total estimated booking value of around Rs 32,000 crore." In the fourth quarter of last fiscal, five new projects were added with an expected sales booking value of Rs 5,750 crore. Among big-ticket deals in FY23, the company acquired an 18-acre land parcel in Kandivali, Mumbai for Rs 750 crore to develop a luxury housing project with an estimated revenue potential of about Rs 7,000 crore. It also acquired legendary film actor, director and producer Raj Kapoor's bungalow at Chembur in Mumbai to develop a luxury housing project. In February last year, Godrej Properties Executive Chairman Pirojsha Godrej had said that the company would invest around Rs 7,500 crore over the next 12-18 months on the acquisition and development of new real estate projects. Sitting on a huge cash pile, Godrej Properties entered aggressively into the market to acquire land parcels. In the last fiscal, it purchased more land outrightly than signing JDAs with landowners. On operational front, Godrej Properties' sales booking rose 56 per cent last fiscal to Rs 12,232 crore -- an all-time high -- on strong demand for residential properties. Pirojsha Godrej attributed the strong growth in FY23 to its strong portfolio of projects across the country. For the first time, the company sold over Rs 2,000 crore of real estate in each of four focus markets of Mumbai Metropolitan Region (MMR), Delhi-NCR, Bengaluru and Pune. Out of the total sales bookings last fiscal, housing segment's contribution was 99 per cent. Pirojsha said the company look forward to building on this sales momentum in FY24. During 2022-23, sales volumes grew by 40 per cent to 15.21 million square feet from 10.84 million square feet in the previous year. The company delivered projects aggregating over 10 million sq ft across 5 cities in FY23. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/zepto-preps-for-public-listing-in-2-years-brings-in-ramesh-bafna-as-cfo-to-lead-ipo-process/articleshow/99514143.cms">Zepto preps for public listing in 2 years; Brings in Ramesh Bafna as CFO to lead IPO process</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/rbis-mpc-decisively-in-a-rate-pause-territory-as-inflation-cools-down/articleshow/99497132.cms">RBI's MPC 'decisively' in a rate-pause mode as inflation cools down</a>

Godrej Properties acquires 18 land parcels in FY23 to build new projects with Rs 32,000-cr sales potential

<keyword id="45432" type="General" weightage="80" keywordseo="godrej-properties" source="Orion">Godrej Properties</keyword> Ltd on Friday said it has acquired legendary film actor, director, and producer <keyword id="6358412" type="General" weightage="80" keywordseo="raj-kapoor" source="Orion">Raj Kapoor</keyword>'s Bungalow at Chembur in <keyword id="6358070" type="General" weightage="50" keywordseo="mumbai" source="Orion">Mumbai</keyword> to develop a luxury housing project. The land was purchased from the <keyword id="53" type="General" weightage="100" keywordseo="kapoor" source="Orion">Kapoor</keyword> family, legal heirs of Raj Kapoor, the company said in a regulatory filing. The deal value has not been disclosed. The site is located at Deonar Farm Road, Chembur, Mumbai, adjacent to <keyword id="6356045" type="General" weightage="50" keywordseo="tata-institute-of-social-sciences" source="Orion">Tata Institute of Social Sciences</keyword> (TISS). In May 2019, Godrej Properties had acquired R K Studios in Chembur from the Kapoor family to develop a premium mixed-use project Godrej RKS. The project is expected to be delivered this year. Gaurav Pandey, MD and CEO, Godrej Properties, said, "We are pleased to add this iconic project to our portfolio and are grateful to the Kapoor family for entrusting us with this opportunity." The demand for premium developments has been strong over the past few years, he said. This project will allow us to further strengthen our presence in Chembur, Pandey said. <keyword id="1562" type="General" weightage="50" keywordseo="randhir-kapoor" source="Orion">Randhir Kapoor</keyword> said, "This residential property in Chembur has been of great emotional and historical significance to our family. We are happy to once again associate with Godrej Properties to take forward this rich legacy for the next phase of development for this location," Godrej Properties, which is part of the business conglomerate <keyword id="133008" type="General" weightage="50" keywordseo="godrej-group" source="Orion">Godrej Group</keyword>, is one of the leading real estate developers in the country. It has a significant presence in Mumbai Metropolitan Region (MMR), Delhi-NCR, <keyword id="2094" type="General" weightage="50" keywordseo="pune" source="Orion">Pune</keyword> and Bengaluru. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/indigo-plans-flights-to-nairobi-jakarta-some-central-asian-destinations-ceo-pieter-elbers/articleshow/98000625.cms">IndiGo plans flights to Nairobi, Jakarta, some central Asian destinations: CEO Pieter Elbers</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sustainability/news/fashion-industry-needs-to-move-further-and-faster-to-meet-1-5c-target-prove-they-care-about-real-change-un-expert/articleshow/97987975.cms">Fashion industry needs to move "further" and "faster" to meet 1.5°C target, prove they care about real change: UN expert</a>

Godrej Properties acquires Raj Kapoor's Bungalow in Mumbai

<ul><li><keyword id="45432" type="General" weightage="100" keywordseo="godrej-properties" source="Orion">Godrej Properties</keyword> has announced the launch of its very first digital brand campaign ‘Everyday Joys- Jahaan Khushiyan Badi Hoti Hai.'</li><li>The campaign introduces GPL’s purpose of creating spaces that enable everyday joys; one community, one family, and one home at a time.</li></ul>Godrej Properties Ltd. (GPL), one of India’s leading <keyword id="6354553" type="General" weightage="20" keywordseo="real-estate" source="Orion">real estate</keyword> developers, announced the launch of its digital brand campaign ‘Everyday Joys- Jahaan Khushiyan Badi Hoti Hai’. The campaign introduces GPL’s purpose of creating spaces that enable everyday joys; one community, one family, and one home at a time. GPL has created three digital video commercials, which capture the beauty of everyday family moments that we all enjoy in our homes. They reinforce that a home is integral to most of our best memories. While the landmark milestones in life happen occasionally, the everyday joyful moments are what keep us going. Everyone has their favourite corner, their daily routines and their ideal family moments at home and the films try to capture these moments. <div type="Youtube" id="dHLHxmMZGZk" title="A New Chili | #EverydayJoys at Godrej Properties" thumbUrl="https://i.ytimg.com/vi/dHLHxmMZGZk/mqdefault.jpg"></div> <div type="Youtube" id="7lxUjJQXOko" title="An Afternoon Siesta | #EverydayJoys at Godrej Properties" thumbUrl="https://i.ytimg.com/vi/7lxUjJQXOko/mqdefault.jpg"></div> <div type="Youtube" id="93ZXcvCgMbc" title="The First Bath | #EverydayJoys at Godrej Properties" thumbUrl="https://i.ytimg.com/vi/93ZXcvCgMbc/mqdefault.jpg"></div> Commenting on the campaign, <keyword id="235987" type="General" weightage="20" keywordseo="mohit-malhotra" source="Orion">Mohit Malhotra</keyword>, MD &amp; CEO, Godrej Properties, said, “Our purpose of bringing joy to the lives of our customers comes alive beautifully in these films. Brand Godrej Properties has always enjoyed the trust of its customers, and now, we are creating a strong and unique brand association through the ‘Everyday Joys’ campaign. With these films, we are asking the viewers to pause and savour the little moments of joy, and realise that this is what a home is all about - a place where everyday joys have no limits.” These moments were beautifully articulated and crafted into three DVCs by the team at <keyword id="531122" type="General" weightage="20" keywordseo="ogilvy-india" source="Orion">Ogilvy India</keyword>, who brought their world-class expertise to the table. The films are being launched across digital platforms such as YouTube, Facebook, and Instagram. Sharing his thoughts on this campaign, Anurag Agnihotri, Managing Partner - Creative (West), Ogilvy India, said, “Inspired by the beautiful Purpose of Godrej Properties, we decided to focus on the small moments that spark joy in a home. These aren’t life changing events, but everyday things that are magical. It is this thought that gave birth to these films and their sign off – Jahaan Khushiyaan Badi Hoti Hain.”

Godrej Properties launches its first-ever digital campaign celebrating everyday joys

<ul><li>At 7:40 am, the SGX Nifty was down 0.12% at 8.63 points pointing towards a lower start for Nifty50.</li><li>Here’s a list of <keyword id="73648" type="PERSON" weightage="20" keywordseo="Stocks-to-watch">stocks to watch</keyword> for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Amid mixed cues from the global peers, Indian stock-market indices are likely to open on a muted note on Thursday. At 7:40 am, the SGX Nifty was down 0.12% at 8.63 points pointing towards a lower start for Nifty50. However, the Dow Jones Industrial Average rose 0.3%, to 28,331.92 on Wednesday, on the back of a strong rally in tech-related shares. These are the stocks to watch out for during the trading session on Thursday: ICICI Bank ICICI Bank on Wednesday said it would sell up to 2% of its holding in ICICI Securities through an open market transaction. “The Board of Directors of the bank, at its meeting held today, approved the sale of up to 6,442,000 equity shares of face value ₹5 each of ICICI Securities Limited (company), representing up to 2% of its issued and paid-up equity share capital, through an open market sale,” the bank said in a regulatory filing. The shares of ICICI Bank ended nearly a percent higher on Wednesday. Oberoi Realty, Godrej Properties and other real estate stocks The Maharashtra government has decided to slash stamp duty on sale deed documents by 3% from September 1 to December 31, 2020, and by 2% from January 1, 2021 to March 31 2021. The shares of Oberoi Realty ended nearly 2% lower on Wednesday, whereas Godrej Properties was down nearly a percent. Hindustan Aeronautics Limited The Union Government is selling 15% of its equity stake in the state-owned Hindustan Aeronautics Ltd (HAL) at ₹1,001 per share to raise about ₹5,000 crore through an offer for sale (OFS). “The Defence Ministry has notified the stock exchanges in the evening on selling 15% of its equity stake (5.01-crore shares) in the company at ₹1,001 per share of ₹10 face value through OFS,” a company official <a href="https://www.sify.com/finance/govt-to-sell-15-stake-in-hal-through-sale-offer-news-news-ui0skQhedbahj.html">told IANS</a>. The shares of HAL ended nearly a percent higher on Wednesday. Mahindra and Mahindra Limited Automobile major Mahindra &amp; Mahindra and e-mobility technology company REE Automotive has entered into a memorandum of understanding (MoU) to explore development and manufacturing of commercial electric vehicles for global markets. “The partnership will support REE’s global customer need for 200,000-250,000 electric commercial vehicle units over a few years, including potential Mahindra’s domestic and international volumes. Production would be scaled further to support additional volume in the global as well as Indian market,” the company said. The shares of M&amp;M ended over 1% higher on Wednesday. Infosys Infosys has launched an AI-driven solution that will automate help desk operations, allow customers to eliminate manual resolution and build near-touchless contact centres in the Covid-19 times. Infosys partnered Blue Prism, a leading Robotic Process Automation (RPA) provider and a strategic partner, to build the ‘Cognitive Email Workbench’ solution. The shares of Infosys ended nearly 2% higher on Wednesday. Rossari Biotech SBI Mutual fund increased its stake in Rossari Biotech from 4.80% to 5.25%. The shares of Rossari Biotech ended nearly 2% lower on Wednesday. Allcargo Logistics The board of directors of Allcargo Logistics will meet today to consider and approve the voluntary delisting of shares The shares of Allcargo Logistics ended nearly 2% lower on Wednesday. Jindal Stainless Jindal Stainless’ board approved raising up to ₹162.8 crore through issue of convertible equity warrants. “The board of directors of Jindal Stainless Ltd at its meeting held today...considered and approved raising funds through issue of convertible equity warrants for an amount up to ₹162.8 crore on preferential basis,” the company said in a filing to the stock exchanges. The shares of Jindal Stainless ended nearly 3% higher on Wednesday. ITC, VST Industries and Godfrey Phillips For providing benefits to farmers, a parliamentary panel has recommended permitting regulated foreign direct investment (FDI) in the tobacco sector and establishing export-only tobacco farms to boost outward shipments. The shares of ITC ended nearly a percent lower on Wednesday. Indraprastha Gas The company reported 88% fall in its net profit to Rs 35.2 crore for the first quarter ended June 30. The company's total revenue declined 58.9% to Rs 638 crore. The shares of Indraprastha Gas ended flat on Wednesday. SEE ALSO:<a href="https://www.businessinsider.in/science/space/news/mars-spotted-first-time-by-uae-hope-probe-on-its-maiden-voyage-in-space/articleshow/77775267.cms" data-type="tilCustomLink"> UAE’s Hope probe spots Mars for the very first time on its maiden voyage through space</a> <a href="https://www.businessinsider.in/tech/news/apples-new-iphone-operating-system-is-making-it-harder-for-facebook-to-track-people-and-facebook-warns-it-will-decimate-part-of-its-business/articleshow/77769482.cms" data-type="tilCustomLink">Apple's new iPhone operating system is making it harder for Facebook to track people, and Facebook says it will decimate part of its business</a>

​Top stocks to watch in trade— ICICI Bank, Oberoi Realty, Godrej Properties, HAL, Infosys, M&M, ITC, Rossari Biotech, Allcargo and more

<ul><li>Indian stock market indices opened in green on Thursday.</li><li>The Sensex was trading 0.45% higher, while the Nifty50 was up 0.37%. </li><li>These are the top stocks that are buzzing on D-street today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian benchmark stock index, Sensex advanced over 175 points in early trade on Thursday, led by financial stocks and fuelled by foreign funds ahead of the expiry of monthly derivative contracts. The Sensex was trading 0.45% higher, while the Nifty50 was up 0.37%. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hero MotoCorp </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Housing Development Finance Corp </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Auto </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBI </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shree Cement </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">M&amp;M </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Eicher Motors </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Bank </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ONGC </td></tr></tbody></table>*as of August 27 10:40 am These are the top stocks that are buzzing in trade today: ICICI Bank gained over a percent ICICI Bank gained over a percent after the bank said it would sell up to 6.4 million shares (about 2% of the company) of its broking subsidiary ICICI Securities. The market value of 2% stake would be about ₹300 crore. With overall credit demand languishing under the weight of the pandemic, ICICI Bank has been cashing out of its investments. In <a href="https://www.businessinsider.in/finance/banks/news/just-like-sbi-icici-bank-has-created-a-cash-cushion-in-case-bad-loans-rise/articleshow/77140214.cms">June 2020, the country's second largest private bank sold</a> stake in <keyword id="6468827" type="COMPANY" weightage="20" keywordseo="ICICI-Prudential-Life-Insurance">ICICI Prudential Life Insurance</keyword> and ICICI Lombard to raise around ₹3,090 crore. <div type="Article" hostid="261" msid="77776199" title="ICICI Bank's share price is expected to surge as much as 34% in the coming year — despite having more loans under moratorium than other lenders" mstype="2" mssubtype="0"></div> Mahindra &amp; Mahindra Limited shares up over 1% Mahindra &amp; Mahindra share price gained over a percent after the company said it has entered into a memorandum of understanding (MoU) with Israel-based e-mobility technology company REE Automotive to explore development and manufacturing of commercial electric vehicles for global markets. Reports suggest that the joint venture will produce up to 250,000 vehicles in the first few years. More importantly, the partnership will enhance Mahindra Group's capabilities in producing electric vehicles. <div type="Article" hostid="261" msid="77389244" title="M&amp;M’s farm equipment segment may have fueled investors hopes — but analysts aren’t too optimistic about it" mstype="2" mssubtype="0"></div> Sunteck, Godrej Properties and Oberoi Realty and other real estate stocks zoom Sunteck zooms 8%, Godrej Properties gains 5% and Oberoi Realty up over 6% after the Maharashtra government decided to slash stamp duty on sale deed documents by 3% from September 1 to December 31, 2020, and by 2% from January 1, 2021, to March 31 2021. <div type="Article" hostid="261" msid="77757126" title="Indians are borrowing heavily against gold⁠— but it may have been wiser to borrow money to buy the precious metal instead of homes" mstype="2" mssubtype="0"></div> Future Enterprises hit upper circuit Future Enterprises shares hit a 5% upper circuit set by the stock-exchanges after the company said it is considering raising funds through the issuance of bonds. The cash-strapped Future Group <a href="https://www.business-standard.com/article/companies/future-enterprises-board-likely-to-discuss-merger-plan-on-saturday-120082100066_1.html?1597982924">reportedly</a> may merge three of its group companies before selling 50% stake in the combined entity to <keyword id="6355199" type="COMPANY" weightage="20" keywordseo="reliance-industries">Reliance Industries</keyword>. This has led to a rally in other group stocks as well, like Future Retail (up 7%), Future Consumer (up 4.3%), and <keyword id="1854044" type="PERSON" weightage="20" keywordseo="Future-Lifestyle">Future Lifestyle</keyword> (up 5%). HAL tanks 11% HAL shares tanked 11% after news surfaced that the Union Government is selling 15% of its equity stake in the state-owned Hindustan Aeronautics Ltd (HAL) at ₹1,001 per share to raise about ₹5,000 crore through an offer for sale (OFS). This government owned defence equipment maker has been a bad investment for shareholders since its listing over 2 years ago. While the government raised a little over ₹4,000 crore from the IPO, the shares have remained below the issue price for nearly the entire time. It did cross the threshold earlier this month, for the first time since the listing, but the exuberance lasted barely a week. Auto stocks tanked despite the expected GST rate revision <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> Top losers on Nifty50 </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Growth % </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Auto </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.26% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Eicher Motors </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.13% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hero MotoCorp </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.13% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Maruti Suzuki </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.56% </td></tr></tbody></table> According to a statement issued by <keyword id="6363932" type="COMPANY" weightage="20" keywordseo="confederation-of-indian-industry">Confederation of Indian Industry</keyword>, Finance Minister Nirmala Sitharaman hinted at a cut in goods and services tax (GST) rate from 28% to 18%. The proposal is expected to be discussed at the 41st GST Council meeting at 11 am today via video conferencing. Allcargo Logistics gains about a percent Allcargo Logistics shares gained nearly a percent during the early trade hours on August 27. The board of directors of Allcargo Logistics is slated to meet today to consider and approve the voluntary delisting of shares. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-in-trade-icici-bank-oberoi-realty-godrej-properties-hal-infosys-mm-itc-rossari-biotech-allcargo-and-more/articleshow/77775215.cms" data-type="tilCustomLink">Top stocks to watch in trade— ICICI Bank, Oberoi Realty, Godrej Properties, HAL, Infosys, M&amp;M, ITC, Rossari Biotech, Allcargo and more</a> <a href="https://www.businessinsider.in/defense/news/china-fires-two-missiles-into-the-south-china-sea-and-asian-markets-feel-the-blow/articleshow/77777358.cms" data-type="tilCustomLink">China fires two missiles into the South China Sea and Asian markets feel the blow</a>

Top stock movers — Future Enterprises, HAL, Suntek, Oberoi Realty, M&M, ICICI Bank, Maruti Suzuki, Bajaj Auto and more

New Delhi, Feb 3 () Shares of realty firm Godrej Properties Ltd on Monday jumped over 8 per cent after the company reported a 9 per cent increase in consolidated net profit for the quarter ended December.
 The scrip climbed 8.29 per cent to close at Rs 1,071.30 on the BSE. During the day, it zoomed 9.74 per cent to Rs 1,085.70.
 On the NSE, it zoomed 7.88 per cent to close at Rs 1,067.95.
 Godrej Properties on Monday reported a 9 per cent increase in consolidated net profit at Rs 45.46 crore for the quarter ended December on higher income.
 Its net profit stood at Rs 41.63 crore in the year-ago period.
 Total income rose to Rs 517.47 crore in the third quarter of this fiscal as compared to Rs 430.7 crore in the corresponding period of the previous year, the company said in a regulatory filing. SUM SHW
SHW

Godrej Properties shares zoom over 8 pc after Q3 earnings

<ul><li>This is the third time the developer is proposing to take the company public after two failed attempts in 2009 and 2018 in the backdrop of unfavourable market conditions.</li><li>The reports indicated that the company took the decision to go public after a recent spurt in residential sales and improved investor sentiments.</li><li>The company is known for its prominent luxury offerings such as the Trump Towers in Mumbai and Grosvenor Square in London.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a></li></ul>One of India's largest real estate players Macrotech Developers — formerly known as <keyword id="6473062" type="UNKNOWN" weightage="20" keywordseo="Lodha-Developers">Lodha Developers</keyword> — has filed a draft red herring prospectus (DRHP) with the markets regulator Securities and Exchange Board of India (SEBI) to raise around ₹2,500 crore through an initial public offering, according to <a href="https://economictimes.indiatimes.com/markets/ipos/fpos/lodha-developers-plans-to-raise-rs-2500-crore-with-10-dilution-through-ipo/articleshow/81030219.cms">news reports</a>. The Mumbai-based company is known for its prominent luxury offerings such as the Trump Towers in Mumbai and Grosvenor Square in London. For the proposed share sale, the company is looking to dilute at least a 10% stake. In 2019, the Lodha Developers changed its name to Macrotech Developers. However, the company said it will continue using the brand name ‘Lodha’ for selling and or leasing its property. The news reports indicated that the company took the decision to go public after a recent spurt in residential sales and improved investor sentiments. This is the third time the developer is proposing to take the company public after two failed attempts in 2009 and 2018 in the backdrop of unfavourable market conditions. The proposed amount of ₹2,500 crore is more than half of what the company had planned to raise earlier. In April 2018, Lodha Group had approached SEBI to raise around ₹5,500 crore through an initial public offering (IPO) and had received the regulator's nod to launch the IPO, but the company backed off citing challenging times for the realty sector. The company first attempted to list its shares on the bourses in 2009 to raise about ₹2,800 crore. The company also received SEBI's nod in early 2010, but later dropped the plan due to unfavourable market conditions caused by the global financial crisis of 2008. The reports indicated that the company has roped in investment banking firms such as Axis Capital, ICICI Securities, Edelweiss Securities, IIFL Securities, SBI Capital, JM Financial, Yes Securities, Bank of Baroda Capital, and JP Morgan as advisors for its IPO. “The <keyword id="6474120" type="UNKNOWN" weightage="20" keywordseo="Lodha-IPO">Lodha IPO</keyword> is majorly a primary issue of shares and the proceeds are likely to be used for debt reduction, land acquisition and new projects,” according to a Moneycontrol <a href="https://www.moneycontrol.com/news/business/lodha-developers-files-papers-with-sebi-for-rs-2500-crore-ipo-as-realty-makes-comeback-6529871.html">report</a>. The stars are aligning perfectly for Lodha Group The company is coming up with IPO plans just days after the Finance Minister Nirmala Sitharaman at the annual budget added thrust for affordable housing. Sitharaman extended the exemption for affordable housing until March 2022, making the section of the real estate sector quite attractive. The recent Economic Survey by Krishnamurthy Venkata Subramanian, India’s chief economic advisor, showed that the COVID-19 pandemic had hit the residential property market during the first quarter. However, the sales have now improved dramatically in the affordable homes segment since July. <div type="image" title="PR31122020_CH1" msid="81038248" hostid="261"></div> According to the RBI data, the year-on-year growth in the all-India House Price Index (HPI) continued to be moderate. It stood at 1.1% in the second quarter. The stocks of its listed peers such as DLF, Godrej Properties, and others have seen a favourable investors interest in the past three months. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stock </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change since Sept 30 </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">DLF </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">108.52% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Godrej Properties </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">75% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mahindra Lifespace </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">106% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sobha Ltd </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">105% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brigade Enterprises </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">74% </td></tr></tbody></table> SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/indian-hotel-companies-have-shown-resilience-during-the-pandemic-and-now-the-markets-are-celebrating-them/articleshow/81032369.cms" data-type="tilCustomLink">Indian hotel companies have shown resilience during the pandemic and now the markets are celebrating them</a> <a href="https://www.businessinsider.in/science/news/its-round-its-two-sided-and-it-could-be-the-most-accurate-world-map-created-till-date/articleshow/81033263.cms" data-type="tilCustomLink">It’s round, it’s two-sided and it could be the most accurate world map created till date</a>

Lodha Developers files papers for ₹2,500 crore IPO — will it be a third time charm?

New Delhi, <keyword id="1065178" type="COMPANY" weightage="20" keywordseo="Oaktree">Oaktree</keyword> has told the <keyword id="4911816" type="COMPANY" weightage="20" keywordseo="Committee-of-Creditors">Committee of Creditors</keyword> (CoC) of <keyword id="6423706" type="DOMAIN" weightage="20" keywordseo="dewan-housing-finance">Dewan Housing Finance</keyword> Ltd (<keyword id="127124" type="COMPANY" weightage="20" keywordseo="DHFL">DHFL</keyword>) that there has been a "persistent campaign to discredit and misrepresent its <keyword id="5004374" type="PERSON" weightage="20" keywordseo="resolution-plan">resolution plan</keyword>". In a letter to the CoC, the India Opportunities Fund, Singapore, which has put in the bid noted that this campaign is introducing bias into the decision making process. Oaktree said the CoC is not considering ₹2,700 crore provided under its resolution plan. It added that Oaktree is offering a much higher fair market value by more than ₹4,503 crore compared to the second highest bidder. Noting that its bid offered a clean structure for the shareholders without any conditions, it said that the bid by the second highest bidder is conditional. Oaktree has demanded the CoC reject the proposal by the other bidder "dressed as implementation steps". Oaktree has committed to infuse equity and debt and turn around the operations of DHFL entity on a standalone, going concern basis. In contrast, the other bidder seeks to merge the entity into its housing finance business. "The contagion risk of the indebtedness to the financial instruments held by the financial creditors is significant," it said. It said that the other bid is "a bad deal for creditors as cash flows generated by DHFL entity will be used to service external and unrelated debt of the wholesale business after the merger". "The financial creditors emerging from one resolution process then be exposed to another indebted company and ultimately the risk of a second resolution process will be a failure of <keyword id="192838" type="COMPANY" weightage="20" keywordseo="IBC">IBC</keyword> and CIRP," Oaktree said. Oaktree said its intention was never to address the second highest bidder's plan. However, it said the CoC did not provide clarifications to it on subordinated debt, and its proposal to offer another ₹1,700 crore in additional interest income was ignored while the other bidder was given the opportunity. Its ₹1,000 crore value prescribed to Pramerica is not being considered, Oaktree said. Oaktree said the burden of responsibility is placed on CoC as a guardian of public money and its duty to vote for the highest bidder is unambiguous. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-tcs-ril-maruti-airtel-godrej-properties-oberoi-realty-sobha-and-others/articleshow/80145182.cms">Top stocks to watch — TCS, RIL, Maruti, Airtel, Godrej Properties, Oberoi Realty, Sobha, and others</a> <a href="https://www.businessinsider.in/business/auto/news/ducati-is-launching-12-new-bikes-in-india-in-2021-check-the-launch-dates-here/articleshow/80146997.cms">From Scrambler and Multistrada to Monster and SuperSport — Ducati is launching 12 new bikes in India, check the launch dates here</a> <a href="https://www.businessinsider.in/india/news/petrol-has-reached-an-all-time-high-in-delhi-after-a-hike-of-23-paise/articleshow/80146505.cms">Petrol price is now past ₹84 in Delhi, over 62% of it is taxes</a>

DHFL resolution: Oaktree cries foul, says persistent campaign to discredit its bid

New Delhi, Mar 27 () Interest-rate sensitive bank, realty and auto shares which had mostly rallied during morning trade on Friday closed on a mixed note even after the Reserve Bank of India cut benchmark interest rate by 75 basis points to deal with the hardship caused by COVID-19 outbreak. Shares of Federal Bank closed 6.34 per cent higher, Axis Bank 4.98 per cent, ICICI Bank 2.44 per cent, State Bank of India 1.66 per cent and Kotak Mahindra Bank 0.64 per cent. In contrast, IndusInd Bank settled 5.94 per cent lower, City Union Bank fell 3.86 per cent, RBL Bank 2.93 per cent, and HDFC Bank 0.91 per cent. The BSE Bank index closed 0.96 per cent higher at 22,965.51. The Reserve Bank of India (RBI) on Friday cut benchmark interest rate by 75 basis points to 4.4 per cent to deal with the hardship caused due to the outbreak of COVID-19. The central bank also reduced the cash reserve ratio (CRR) of all banks by 100 basis points to 3 per cent with effect from March 28 for 1 year. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services called the measures "A massive bazooka from the RBI in "mission mode". He said it is a relief-cum-stimulus package with a big repo cut and even bigger reverse repo cut. This together with CRR cut will be a big stimulus for banks to lend. The combination of measures to boost liquidity, improve monetary transmission and relax repayment pressures will act with force multiplier in the economy. Among realty companies, Sunteck Realty ended 9.93 per cent higher, Indiabulls Real Estate 4.89 per cent, Prestige Estates Projects 3.92 per cent and DLF 0.58 per cent, while Oberoi Realty dropped 5.66 per cent, Godrej Properties 3.78 per cent, Sobha 0.90 per cent and Omaxe fell 0.71 per cent. The realty index dipped 0.78 per cent to close the trade at 1,427.65. "Markets traded volatile and finally settled on a flat note, taking a breather after the recent recovery. The benchmark indices opened higher, however, gains soon fizzled out despite big and bold moves announced by the RBI to address liquidity needs and ensure financial stability," said Ajit Mishra, VP - Research, Religare Broking Ltd. Among auto pack, shares of M&amp;M finished 2.83 per cent higher, Ashok Leyland 0.46 per cent, Apollo Tyres 0.49 per cent, while Hero MotoCorp dropped 8.04 per cent, TVS Motor Company 5.54 per cent, Maruti Suzuki India 4.81 per cent, Bajaj Auto 2.48 per cent and Tata Motors 0.21 per cent. The auto index fell 2.35 per cent to close at 11,223.81. "RBI has come out with lots of measures to ensure the stability of the financial system and inject liquidity in the market amid ongoing turmoil of pandemic," said Amit Gupta, Co-Founder &amp; CEO, TradingBells. He noted that it is a very good policy to cheer the market, but the problem is that the market has already rallied too much from lower levels ahead of policy and real trend decider for the market will be the trend in new cases of Covid-19 globally and locally. Meanwhile, the domestic equity markets closed on a weak note with the benchmark Sensex falling 131.18 points to close at 29,815.59. SUM ANSANS

You Searched For "Godrej Properties Ltd" and got 9 results

Godrej Properties acquires 18 land parcels in FY23 to build new projects with Rs 32,000-cr sales potential

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Godrej Properties acquires Raj Kapoor's Bungalow in Mumbai

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Godrej Properties launches its first-ever digital campaign celebrating everyday joys

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Godrej Properties shares zoom over 8 pc after Q3 earnings

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Lodha Developers files papers for ₹2,500 crore IPO — will it be a third time charm?

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DHFL resolution: Oaktree cries foul, says persistent campaign to discredit its bid

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Interest-rate sensitive bank, realty, auto shares end on mixed note after RBI measures

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You Searched For "Godrej Properties Ltd" and got 9 results

Godrej Properties acquires 18 land parcels in FY23 to build new projects with Rs 32,000-cr sales potential

PTI

Godrej Properties acquires Raj Kapoor's Bungalow in Mumbai

PTI

Godrej Properties launches its first-ever digital campaign celebrating everyday joys

BI India Partner

​Top stocks to watch in trade— ICICI Bank, Oberoi Realty, Godrej Properties, HAL, Infosys, M&M, ITC, Rossari Biotech, Allcargo and more

Navdeep Yadav

Top stock movers — Future Enterprises, HAL, Suntek, Oberoi Realty, M&M, ICICI Bank, Maruti Suzuki, Bajaj Auto and more

Navdeep Yadav

Godrej Properties shares zoom over 8 pc after Q3 earnings

PTI

Lodha Developers files papers for ₹2,500 crore IPO — will it be a third time charm?

Navdeep Yadav

DHFL resolution: Oaktree cries foul, says persistent campaign to discredit its bid

IANS

Interest-rate sensitive bank, realty, auto shares end on mixed note after RBI measures

PTI

Popular Keywords

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Top stocks to watch in trade— ICICI Bank, Oberoi Realty, Godrej Properties, HAL, Infosys, M&M, ITC, Rossari Biotech, Allcargo and more