Author: AU News Bureau
RAK white Cement urges shareholders to accept UltraTech Stake offer The board of RAK White Cement has recommended that its shareholders accept a cash offer from UltraTech Cement for the acquisition of a further stake in the company. Global Cement News reported in May 2024 that UltraTech Cement had offered to acquire 32% of shares in the company. It previously acquired 29% in April 2024. Source: globalcement.com
The Swedish company H&M , renowned for its global fashion, has now expanded its presence into home decor by launching H&M Home in Inorbit Mall, Cyberabad. The decision to open its first H&M Home store in Hyderabad reflects the city’s growing prominence as a hub for fashion and design enthusiasts. For it’s opening, the store featured red carpets laid right outside it, stretching from the entrance of the mall running parallel to its original clothing store towards the entrance to its H&M home store. The ambiance of this store exudes contemporary and chic vibes, akin to other stores under the…
Cost overrun of INR 5055 Lakh Cr seen in 448 infrastructure projects As many as 448 infrastructure projects, each entailing an investment of Rs 150 crore or above, were hit by a cost overrun of more than Rs 5.55 lakh crore in April 2024, according to an official report. According to the Ministry of Statistics and Programme Implementation (MoSPI), which monitors infrastructure projects worth Rs 150 crore and above, out of 1,838 projects, 448 reported cost overruns and 792 projects were delayed. The total original cost of implementation of the 1,838 projects was Rs 27,64,246.50 crore, and their anticipated completion…
Fast moving electrical and electronics Company, Havells India Ltd, announces its entry into the kitchen appliances market through a strategic partnership with Jumbo Group, a leading distributor of consumer electronics and technology products in the UAE. This alliance is set to bolster Havells product portfolio and market reach while enabling Jumbo Group to establish a significant presence in the Middle East. The partnership will see the launch of Havells India’s premier kitchen appliances, including advanced mixer grinders starting with online availability on Jumboโs e-commerce website jumbo.ae followed by retail store distribution. Havellsโ energy efficient appliances come equipped with advanced technology,…
SIAM Cement BigBloc Construction Technologies Pvt Ltd, a joint venture between Gujarat based BigBloc Construction Ltd and Thailandโs SCG International Corporation Co., Ltd., (SCG International) has launched its India operations with the commercial production of its first plant in Kheda, Gujarat. With the vision of launching next-generation walling solution for the Indian market, the joint ventures has invested around Rs. 65 crore in setting up a 2.5 lakh cubic meter per annum capacity project including Indiaโs first AAC Wall Plant at Kheda district near Ahmedabad (Gujarat). The AAC Wall will be marketed under the brand name โZMARTBUILD WALL by NXTBLOCโ.…
Telugu Desam Party, led by N Chandrababu Naidu, accomplished a thumping victory in Lok Sabha and Andhra Pradesh assembly elections. He is set to be sworn in as Andhra Pradesh Chief Minister on June 12. As per the Times of India, following the TDPโs win, the real-estate prices in Amravati have increased between 50 per cent and 100 per cent. As the first chief minister of the bifurcated state from 2014 to 2019, Chandrababu Naidu proposed Amaravati as the capital city. This new greenfield capital was planned to be environmentally sustainable and situated between Vijayawada and Guntur, comprising 29 villages.…
Between the years 2021 and Q1 2024, 164.3 million sq ft of new buildings were added to India’s Grade A office stock, according to JLL(Jones Lang LaSalle Incorporated) as mentioned in a press release. During the same period, JLL noted that the top seven markets in India which include Bengaluru, Chennai, Delhi NCR, Hyderabad, Mumbai, Pune and Kolkata, witnessed a cumulative net absorption of ~113 million sq. ft out of which a massive 94.3 million sq. ft were in new-age buildings (buildings completed since 2021). The improved asset quality and sustainability ratings have been positively impacting space take-up across Indiaโs…
Phoenix Mills Limited (PML), retail-led mixed-use asset developer and operator of Phoenix Malls across the country, including Mumbai, may come up with a third mall in the Mumbai Metropolitan Region (MMR) in Thane and perhaps a hotel there. It may also expand its Phoenix Market City Mall in Bengaluru. Currently, Phoenix Mills operates a mall named Phoenix Palladium in Central Mumbai’s Lower Parel along with a hotel St Regis and a residential tower. The company will also come up with a commercial project in the vicinity by 2027. It also runs a mall named Phoenix MarketCity in Kurla area of…
