We buy ugly houses

NEW DELHI: Realty firm Gera Developments has bought 12 acre land in Pune for Rs 153.5 crore from Dai-Ichi Karkaria Ltd to develop a commercial project. In a regulatory filing, Dai-Ichi Karkaria informed that the company has entered into an agreement for sale with Pune-based Gera Developments. The company, which manufactures speciality chemicals, will get a consideration of Rs 153.5 crore from sale of this land parcel, it added. Separately, Gera Developments MD Rohit Gera confirmed the deal and said the company has purchased a 12-acre land parcel in Pune's Pimpri-Chinchwad area from Dai-Ichi Karkaria. The site formerly housed factories that had been shifted to Dahej in Gujarat some time ago. "We have concluded the definitive documentation for this land parcel. We are very excited with the prospects of creating a landmark retail and office destination at this strategic location," Rohit said. "The metro station in front of the site is an added advantage that we believe will provide a huge … [Read more...] about Pune: Gera Developments buys 12 acre land from Dai-Ichi Karkaria for Rs 153 crore

HDFC Asset Management, India’s second largest mutual fund house by assets, lightened positions in the bluest of blue chips in June as the benchmark equity indices gained over 7.50 per cent. The fund house, instead, lapped up shares of select PSUs and those of telecom, chemicals, life insurers and power companies ahead of June quarter earnings. Data showed the fund house offloaded some shares in Reliance Industries (41.56 lakh shares), Infosys (22.90 lakh shares) and L&T (19.49 lakh shares) and sold between 1.50 lakh to 16 lakh shares each in ITC, HDFC Bank and TCS after these shares rose 40-110 per cent from their March lows. They are all big winners in the first leg of the market rally from the March lows. Overall, the fund house reduced exposure in at least 79 companies, but bought into some 99 others. The AMC’s investment team led by market veteran Prashant Jain seems to have turned focus on the stocks that were out of favour in the first leg of the rally. They … [Read more...] about HDFC AMC offloads winners of first leg of rally, turns to next lot

Last month, the Jalpaiguri zilla parishad appointed him the district’s health ambassador for COVID-19 as part of its public awareness programme at the grassroots level. This means Haque must travel to villages along with panchayat representatives, civic police volunteers and ASHA workers and interact with local people. He tells them about the novel coronavirus, and what they should and should not do. “I try to dispel myths; I tell them to be governed by science and science alone,” says Haque. … [Read more...] about Rider on a storm: How Jalpaiguri’s ‘Bike Ambulance Dada’ ferries patients from the remotest areas

Bharti, JSW Steel and State Bank would be my three top picks in the Nifty stocks, says Director, IIFL Securities. What is your current market view and what are you telling your clients to do? We have had a superb three months and we have no complaints. It was about time we saw some profit booking but we are still staying the course. We have created some hedge positions. We are playing both sides of the market but right now it is the time for banks to shine. We think this is the time to go whole hog or overweight on banks and we think banks or financial services companies are going to do extremely well. So it will be a mixed bag from here on. Banks and metals will outshine from here. Portion of IT is also there but we are staying put. We are not giving in. We know there will be 100-200 points correction or maybe a little more but we are geared up for 11,000 and it is not the 11,000 on the Nifty which is actually the real icing on the cake. It is the broader market outperformance. … [Read more...] about Three midcap private bank stocks Sanjiv Bhasin is bullish on

But real estate analyst Lee Sang-woo said, "There is ample liquidity in the market, but after the tougher measures were announced, prospective home buyers are beginning to wonder if this might be their last chance to buy an apartment, so we will see prices continue to rise." … [Read more...] about Real Estate Prices Rise Despite Tougher Curbs