5 minutes ago

Former Housing Development and Infrastructure Limited (HDIL) chairman Rakesh Wadhawan has approached the Mumbai Police’s Economic Offences Wing seeking an investigation into the alleged unauthorised transfer of an INR 600 crore loan account. Wadhawan has alleged that Yes Bank assigned the loan, linked to another company promoted by him, to Suraksha Asset Reconstruction Company in 2017 even though the account had not been classified as a non-performing asset. The complaint also raises questions over the valuation and regulatory compliance involved in the transfer. The matter comes amid wider scrutiny of transactions involving Suraksha ARC and former Yes Bank officials.Read more

35 minutes ago

CESC’s renewable energy platform Purvah Green Power will acquire a 1.4 GW operational solar portfolio from ReNew Solar Power for INR 48.59 billion (USD 510.1 million). The portfolio includes six operating projects spread across Rajasthan and Karnataka, with more than 90% of the capacity tied to long-term power purchase agreements with the state-run Solar Energy Corporation of India (SECI). The acquisition is expected to close before October 31 and will take Purvah’s contracted renewable energy capacity to 4.8 GW. The transaction is also part of CESC’s plan to build a 10 GW renewable energy platform.Read more

1 hour ago

The Bombay High Court, while hearing a petition concerning environmental degradation and urban planning in Mumbai, underscored the importance of protecting the city's public open spaces and green areas.The court noted that Mumbai had experienced extensive pressure on playgrounds, gardens, wetlands and other open spaces, with encroachments and changes in land use reducing their availability.It highlighted the role of open spaces in maintaining ecological balance, reducing environmental stress and providing recreational areas for residents.The judgment also referred to Mumbai's extremely low open-space availability compared with recommended standards, describing green spaces as the “lungs” of the city.Read more

1 hour ago

Larsen & Toubro has been selected to execute the civil construction works for extensions of the Noida Metro’s Aqua Line, strengthening the rapid transit network across Noida and Greater Noida. The project involves construction of new elevated metro corridors and associated infrastructure as part of the planned expansion of the existing Aqua Line. The extension is expected to improve connectivity between key residential, commercial and institutional areas while supporting the region’s continuing urban growth. The contract adds another major metro infrastructure project to L&T’s transportation portfolio.Read more

2 hours ago

Beijing has further eased restrictions on home purchases as authorities seek to support the city’s weak housing market and improve buyer demand. The latest measures have reduced the minimum tax or social insurance contribution period for non-local residents buying homes within the Fifth Ring Road from two years to one year. The changes also allow eligible non-Beijing residents to purchase homes across the capital under the revised requirement. At the same time, Beijing has raised housing provident fund loan limits, with additional support available for buyers in outer districts, green-certified homes and families with two or more children.Read more

2 hours ago

Builders in Kolkata have started calling workers back to construction sites as developers anticipate the resumption of high-rise projects following a period of disruption. The move comes as the state’s urban development department has updated building-rule references to align with the National Building Construction Standards 2026, replacing references to the earlier National Building Code. The revised provisions cover structural design, fire safety, construction practices, lifts, ventilation, earthquake protection and other building services. Developers are now preparing to restart work and regain time lost during the disruption.Read more

3 hours ago

The West Bengal government is examining land pooling, industrial parks and changes to land laws to make larger parcels available for industrial development without relying on direct land acquisition. Subrata Gupta, adviser to Chief Minister Suvendu Adhikari, said the state was evaluating land pooling to address fragmented land holdings while reducing direct government involvement in transactions with individual landowners. The approach is politically sensitive in West Bengal, where the Singur and Nandigram land agitations have had significant political consequences. The government is also considering closed industrial sites as an alternative source of land and reviewing rules governing land holding and utilisation. Gupta said repealing the Urban Land (Ceiling and Regulation) Act would not by itself resolve the issue because industrial units generally fall outside its scope. The state is also examining legal issues concerning bargadars, or sharecroppers, who retain land rights despite no longer farming.Read more

3 hours ago

Parliament has passed the Taxation and Other Laws (Amendment) Bill, 2026, with Finance Minister Nirmala Sitharaman clarifying that the legislation does not impose any tax or transaction charge on UPI payments. The Bill retains the zero-MDR framework for consumers while giving the central government the power to decide which electronic payment modes must remain free. It also seeks to attract foreign capital, support domestic electronics manufacturing and facilitate the use of Indian data centres by foreign cloud companies. The legislation further includes tax changes for FPIs and aims to make India more attractive for global fund managers.Read more

4 hours ago

Mahindra Group has appointed Amit Sinha, currently managing director and CEO of Mahindra Lifespaces Developers Ltd, to lead its Holidays and Lifespaces sector as CEO. The appointment date has not yet been disclosed, and Sinha will assume the new role after a successor is appointed to head Mahindra Lifespaces. The move forms part of the group’s strategy to combine its Holidays and Lifespaces businesses under a sector structure and pursue operational synergies between the two businesses, which it identifies as ‘Growth Gems’. Mahindra Lifespaces’ residential pre-sales have increased fivefold since FY20, from around INR 700 crore to INR 3,500 crore, while the overall business moved from losses to a profit of around INR 300 crore in FY26. Mahindra Holidays has more than 300,000 vacation ownership members and has added over 1,700 rooms as it expands into leisure hospitality.Read more

4 hours ago

Samyoung Co Ltd is set to acquire real estate assets valued at 35 billion won, according to a company disclosure reported by Reuters. The proposed transaction comes as South Korea’s property market continues to see corporate and institutional investors assess opportunities across different real estate assets. Samyoung, listed on the Korea Exchange under 003720.KS, is primarily associated with electrical and related infrastructure businesses. The acquisition will add a real estate asset to the company’s holdings, although details such as the location, type of property, seller and intended use were not disclosed in the available announcement.Read more

Mumbai News Desk

5 hours ago

A dispute over a football ground in Bandra has reached the Bombay High Court, with the matter concerning the use and future of the recreational space.The case has brought renewed attention to the protection of open spaces and sports grounds in Mumbai amid competing claims over land use.The petition before the court seeks judicial intervention in the dispute, with the parties placing their respective claims regarding the ground before the High Court.The matter highlights the wider challenge of balancing recreational needs, public open spaces and development pressures in densely populated parts of Mumbai.Read more

5 hours ago

Mumbai is set to add a new public viewing facility in Bandra as part of the Bandra Wastewater Treatment Facility being developed under Stage II of the Mumbai Sewage Disposal Project. The 360 MLD sewage treatment plant, being executed by Larsen & Toubro for the Brihanmumbai Municipal Corporation, is designed to incorporate a panoramic viewing gallery along with a knowledge centre and library. The civic infrastructure project is intended to combine wastewater treatment with public-oriented facilities, creating a space that can provide views of the city’s coastline while supporting awareness of sewage treatment.Read more

6 hours ago

Embassy Office Parks REIT plans to acquire 10-12 million sq ft of office space over the next three to four years as it seeks to expand its portfolio amid sustained demand for premium and flexible workspaces. The REIT currently owns and operates more than 52 million sq ft across Bengaluru, Mumbai, Pune, Delhi-NCR and Chennai. It is also developing 6.2 million sq ft of office space at an estimated cost of INR 3,500 crore. CEO Amit Shetty said foreign companies establishing Global Capability Centres (GCCs) and demand from managed workspace providers were supporting office leasing. Embassy REIT leased 1.3 million sq ft during the June quarter, including 0.7 million sq ft of fresh leasing. GCCs accounted for 81% of quarterly leasing, while AI-related companies contributed 21% of new leasing. The REIT reported quarterly NOI of INR 1,020 crore and distributed INR 598 crore to unitholders.Read more

Mumbai News Desk

6 hours ago

The Brihanmumbai Municipal Corporation (BMC) has revised its 2023 footpath policy to strengthen pedestrian access across Mumbai. The updated approach removes provisions that had allowed certain parking arrangements and temporary structures on footpaths, directing civic wards to clear such obstructions. The move is part of a broader pedestrian-focused enforcement drive aimed at restoring footpaths for walking and improving their accessibility. The civic body is also expected to undertake ward-level inspections and action against encroachments as part of the implementation.Read more

7 hours ago

Raymond Realty Ltd reported a 19% year-on-year decline in consolidated net profit to INR 13.43 crore for the quarter ended June, as higher operational expenses weighed on profitability. The company had recorded a consolidated net profit of INR 16.50 crore in the corresponding quarter of FY26. Despite the decline in earnings, total income increased to INR 535.71 crore during the first quarter of FY27 from INR 391.86 crore a year earlier, according to a regulatory filing. The company also recorded a substantial increase in sales bookings during the quarter. Pre-sales rose to INR 700 crore in Q1 FY27 from INR 306 crore in the corresponding period of the previous financial year. The increase in bookings came alongside higher total income, although elevated operating costs affected the company’s bottom-line performance during the quarter.Read more

7 hours ago

Ryman Hospitality Properties has agreed to acquire the 409-acre Grande Lakes Orlando Resort in Florida for USD 1.38 billion from Trinity Investments. The luxury resort comprises a 1,010-room JW Marriott, a 582-room Ritz-Carlton and an 18-hole Greg Norman-designed golf course. Marriott International will continue to manage both hotels. The property was acquired by Trinity and Elliott Management in 2018 and subsequently underwent extensive renovations and repositioning. Ryman expects the transaction to close in the third quarter of 2026 as it continues to expand its portfolio of large destination and group-oriented resorts.Read more

Mumbai News Desk

8 hours ago

Mumbai Metro One has introduced a mixed-loop operating pattern on the Versova-Andheri-Ghatkopar corridor from August 10 to increase train frequency during evening peak hours. Under the revised arrangement, alternate services will operate between Ghatkopar and Andheri, while the following train will continue on the full Ghatkopar-Versova route. The change reduces the peak-hour gap between Andheri and Ghatkopar from 3 minutes 20 seconds to 3 minutes and is expected to raise carrying capacity on the section by more than 20%, adding capacity for around 28,000 commuters.Read more

8 hours ago

The Goa government has introduced an ‘Anywhere Registration within the District’ facility, allowing citizens to register property-related documents at any Sub-Registrar Office within the district where the property is located. Launched on July 29 under the National Generic Document Registration System (NGDRS), the reform is intended to improve access to registration services and reduce waiting times. Goa is the third state in India to implement the system. The state has two districts, North Goa and South Goa, with officials citing increasing property registrations, particularly in coastal talukas, as a reason for the change. The facility allows applicants to choose another office if appointments are unavailable at their preferred location. Officials said the system would benefit senior citizens, working professionals, non-resident Indians and foreign nationals by reducing travel requirements, while distributing registration workloads more evenly across offices.Read more

9 hours ago

The Rajya Sabha has passed the Bankers’ Books Evidence Bill, 2026, paving the way for the replacement of the 1891 law governing the use of banking records in legal proceedings. The new legislation recognises physical as well as electronic, digital and virtual banking records as evidence and seeks to bring the legal framework in line with modern banking practices. It also allows the Centre to extend the framework to other regulated financial entities. The debate also covered data security, cybersecurity, financial inclusion and concerns over access to electronic banking records.Read more

9 hours ago

Ireland-based building materials company Kingspan has raised its full-year trading profit guidance, supported by strong demand from the data centre sector. The company now expects trading profit to rise about 18% to EUR 1.13 billion, compared with its earlier forecast of EUR 1.05 billion. Its data centre-focused Advnsys business reported a 34% increase in first-half sales, while order intake and backlog more than doubled year on year. Kingspan also expects further profit growth in 2027 and sees a possibility of crossing EUR 10 billion in annual revenue for the first time.Read more

10 hours ago

Signature Global has awarded construction contracts worth INR 920 crore to KEC International and NCC for its Sarvam at DXP Estate luxury housing project in Sector 37D, Gurugram, along the Dwarka Expressway. The two companies have received contracts valued at INR 460 crore each. KEC International will construct six residential towers, while NCC will undertake five towers. The 11 towers will together comprise 1,798 residential units across a development area of 5 million sq ft. Construction is scheduled to begin by the end of the third quarter of FY27. Signature Global said the project is spread across 13.55 acres. The developer has delivered 19.2 million sq ft of real estate so far and recorded sales bookings of INR 8,250 crore in FY26. It is targeting sales bookings of INR 10,000 crore in the current financial year.Read more

Mumbai News Desk

10 hours ago

Mehul Madhusudan Shah, Director of pharmaceutical company Encube Ethicals, along with Niti Mehul Shah, has purchased a sea-facing luxury apartment in Juhu, Mumbai, for over INR 100 crore. The deal, registered on 31 July 2026, involved a 9,862.88-square-foot unit on the 10th floor of Avalon Tower A in Lodha Avalon, on Juhu Tara Road. The transaction was valued at INR 106.52 crore, working out to approximately INR 1,08,001 per square foot. The purchase comes shortly after Encube Ethicals filed its Draft Red Herring Prospectus with SEBI for an INR 3,000 crore initial public offering.Read more

11 hours ago

Shapoorji Pallonji Real Estate (SPRE) will host its Multi-City Property Showcase in Noida on August 9, bringing 15 residential projects from Mumbai, Thane, Pune, Gurugram and Howrah under one roof. The one-day event will feature premium apartments, luxury villas and lifestyle plots starting from INR 60 lakh. Homebuyers and investors will also be able to access home loan assistance, personalised consultations and event-specific offers. The showcase follows similar events in Gurugram and Mumbai and will provide buyers an opportunity to compare residential projects across multiple markets at a single venue.Read more

11 hours ago

The Maharashtra government has signed agreements with Singapore-based Mapletree and Surbana Jurong to speed up the development of Mumbai 3.0. Mapletree will develop a 100-acre mixed-use project at the Raigad-Pen Growth Centre, with the state expecting the project to attract more than USD 1.1 billion in foreign direct investment. Surbana Jurong has been appointed as the project management consultant for the growth centre. The government is also preparing an integrated master plan for Mumbai 3.0, covering 324 square kilometres and including land use, transport, housing, commercial and industrial zones and civic infrastructure.Read more

11 hours ago

Long before shopping malls and e-commerce platforms reshaped retail, India's traditional bazaars served as the commercial heart of cities. Many of these markets have survived wars, colonial rule, urban expansion and changing consumer habits while continuing to attract traders and buyers every day. From wholesale textile hubs and jewellery districts to spice markets and handicraft lanes, these historic marketplaces remain vital to local economies. Here are ten of India's oldest functioning markets that continue to thrive, preserving centuries of commerce while adapting to the demands of modern trade.Read more

12 hours ago

Swiss real estate company Mobimo Holding reported net rental income of CHF 74.2 million for the first half of 2026, while earnings before interest and tax (EBIT) stood at CHF 166.4 million. The company’s profit increased to CHF 126.8 million during the period. Mobimo said its outlook for 2026 remains positive and that it remains confident of meeting the operational targets communicated at the beginning of the year. The results come as the company continues to build on its rental portfolio and development activities in the Swiss property market.Read more

12 hours ago

Asia Pacific's real estate market recorded its strongest first half since 2022, with investment activity reaching USD 105 billion in H1 2026, according to Colliers' Asia Pacific Capital Markets Snapshot report. Office assets led investment activity across the region, with USD 40.2 billion deployed globally and over 40 per cent of India's total real estate inflows directed toward the segment, driven primarily by domestic investors. Domestic capital deployment in India rose 80 per cent year-on-year, accounting for approximately 57 per cent of total inflows, while foreign investor participation grew 24 per cent year-on-year to contribute around 43 per cent.Read more

12 hours ago

Luxury fashion and lifestyle brands are increasingly entering the real estate sector through branded residences, bringing their design identities into architecture, interiors, amenities and hospitality services. In Dubai, ANAX Developments Chairman Satish Sanpal is taking this approach with ELLE Residences Dubai Islands, developed under a licensing agreement with Lagardère News. The project marks ELLE’s first residential development in the Middle East and its second globally after ELLE Residences Miami. With 91 apartments and seven townhouses, the waterfront project combines ELLE’s fashion and lifestyle identity with Dubai’s residential market.Read more

13 hours ago

Godrej Properties increased its investment in construction and related activities by 54 per cent year-on-year to INR 2,244 crore in the first quarter of the current fiscal, as the company steps up execution across its ongoing projects. The developer delivered 0.9 million square feet during the quarter and is targeting 13.5 million square feet of deliveries in the current fiscal. Despite a decline in quarterly profit and income, the company recorded a 22 per cent rise in sales bookings to INR 8,651 crore. It expects sales momentum to remain strong, supported by end-user demand across key markets.Read more

13 hours ago

Arima Real Estate SOCIMI has sold its property at Josefa Valcárcel 38 in Madrid for EUR 17.70 million, marking a 15.4% premium over the price at which it acquired the asset. The company has classified the property as non-strategic as part of the transaction. The asset was acquired in 2025 and comprises 11,558 square metres of gross lettable area across two connected buildings, along with 167 parking spaces. The sale comes as Arima continues to manage its Madrid-focused office portfolio and review assets for their long-term investment potential.Read more

14 hours ago

Global investment firm KKR will acquire the India hospital operations of international healthcare and diagnostics provider Medicover AB, at a valuation of EUR 1.2 billion. Medicover and its minority shareholders have entered into an agreement to divest their entire equity stake in Medicover Hospitals India (MHI) to funds managed by KKR. The transaction is expected to generate gross cash proceeds of EUR 0.74 billion for Medicover, which said the divestment would enable accelerated strategy execution in Poland, Germany and Romania while strengthening its financial position.Read more

14 hours ago

Maharashtra Real Estate Regulatory Authority (MahaRERA) has extended the completion timelines of eligible registered real estate projects in the state by four months, citing force majeure arising from the ongoing conflict in West Asia. The move follows an advisory issued by the Union Housing and Urban Affairs Ministry asking state RERAs to provide the extension to projects affected by supply chain disruptions. The extension will apply automatically to eligible projects whose completion dates fall on or after February 28, 2026. Projects registered from August 1, 2026, will not be covered under the order.Read more

15 hours ago

Interarch Building Solutions reported a flat net profit of INR 28 crore for the first quarter of FY27, despite a 20.7% year-on-year increase in revenue from operations to INR 460 crore. The company’s total order book stood at INR 1,864 crore at the end of July. Its board has approved a stock split of existing INR 10 equity shares into INR 2 shares, subject to shareholder and other required approvals. The board also approved a proposal to raise up to INR 250 crore through a Qualified Institutions Placement, replacing an earlier INR 100 crore fundraising approval. The company also secured a major INR 165 crore order in Gujarat.Read more

15 hours ago

Private sector investment in India is showing steady growth, supported by the government’s continued focus on capital expenditure, Economic Affairs Secretary Anuradha Thakur said. She noted that public capital expenditure has risen more than fivefold over the past decade, reaching INR 10.7 lakh crore in 2025-26, with the government budgeting INR 12.2 lakh crore for the current fiscal. Thakur said public investment is helping attract private investment, while greater access to finance, particularly for MSMEs, remains important. She also stressed the need for stronger capital mobilisation, innovation, research and development and greater industry-academia collaboration.Read more

16 hours ago

The Andhra Pradesh government has offered rent-free land and subsidised electricity to support the installation of mobile towers in remote and currently unconnected areas, as part of efforts to achieve universal mobile connectivity across the state. The initiative is intended to address the infrastructure and operating challenges involved in extending telecom networks to villages where commercial deployment can be difficult. The move comes as the state continues to work with central government programmes aimed at expanding 4G coverage across rural and underserved regions.Read more

16 hours ago

Chief Economic Adviser V Anantha Nageswaran has cautioned the financial sector against overlooking security risks linked to artificial intelligence as increasingly autonomous AI systems raise cybersecurity concerns. Speaking at an Assocham event, he said financial institutions cannot wait for AI-related threats to become real before taking preventive measures. His comments came amid concerns over AI agents attempting to access or breach other AI systems without being prompted. Nageswaran also discussed cross-border payments, saying their wider adoption would depend on sufficient bilateral trade and commercial transactions between participating countries to make settlements in local currencies economically viable.Read more

17 hours ago

The Manipur government has announced the reopening of National Highway-2 and National Highway-37 for free movement of people and goods across communities, marking a significant step towards restoring road connectivity in the state. The two highways connect Imphal with Dimapur and Jiribam, respectively, and have faced prolonged disruption amid the conflict in Manipur. The state government has also announced plans to resume bus services between Imphal and Dimapur. The reopening is expected to improve access to essential supplies, facilitate travel and support the gradual restoration of economic activity.Read more

17 hours ago

As many as 87 proposals have been received from states and Union Territories under the first round of Phase-I of the Bharat Audyogik Vikas Yojana (BHAVYA), the government informed Parliament. The INR 33,660-crore scheme, approved in March, aims to develop 100 plug-and-play industrial parks across India. The first phase will cover 50 parks, with applications for 20 parks invited in the first round. Maharashtra submitted the highest number of proposals at 14, followed by Madhya Pradesh with 11, while Tamil Nadu and Uttar Pradesh submitted seven each.Read more

18 hours ago

The West Bengal government is planning a ring road around Kolkata and a flyover connecting the Eastern Metropolitan Bypass with Rajarhat-New Town to improve urban connectivity and support business activity. Urban Development and Municipal Affairs Minister Agnimitra Paul said the proposed projects are part of wider efforts to strengthen roads, drainage, water supply and civic services. The government is also considering the revival of an approximately 7-km flyover proposal from the EM Bypass Metropolitan area, estimated to cost around INR 900 crore. However, the projects are yet to receive final approval.Read more

18 hours ago

The West Bengal Transport Department has directed police authorities to strictly enforce restrictions on e-rickshaws, locally known as totos, operating on National Highways, State Highways and other major roads. The department said it had received several complaints about violations of existing guidelines, with unauthorised e-rickshaw movement contributing to traffic congestion and raising safety concerns. Principal Secretary (Transport) Ravi Inder Singh, in a letter to the police, reiterated that e-rickshaws are primarily intended to provide last-mile connectivity and are not permitted on major roads under existing rules. The department referred to a state government memorandum issued in July 2016, which allows e-rickshaws only on designated local roads unless specifically authorised otherwise. Violators may face action under the Motor Vehicles Act, 1988, and related rules. The department said the number of e-rickshaws operating across the state could run into several thousand.Read more

19 hours ago

Frasers Property (Thailand) Public Company Limited reported total revenue of THB 3,014.7 million and profit of THB 497.4 million for the third quarter of FY2026. The results come as the company continues to operate across residential, commercial, industrial and logistics real estate in Thailand. FPT has been expanding its industrial and logistics portfolio while strengthening its commercial assets, including its operations around One Bangkok. The company had earlier reported total revenue of THB 14,686 million and net profit of THB 1,455 million for FY2025. It has also set a FY2026 revenue expectation of THB 15,045 million.Read more

19 hours ago

The Finance Ministry is reviewing India’s Model Bilateral Investment Treaty (BIT) to make it more investor-friendly and align it with the country’s experience in investment negotiations and global practices. Economic Affairs Secretary Anuradha Thakur said consultations are underway and the revised model will soon be placed before the Union Cabinet for approval. The review comes as Indian companies increase their overseas investments and require stronger protection in foreign markets. The government is also considering lessons from investor disputes involving India and the differences between investment and trade agreements.Read more

20 hours ago

Kotak Mahindra Bank has launched a hybrid home loan that allows borrowers to lock their interest rate and EMI for up to 65 months, offering greater certainty during the initial years of home ownership. Customers can choose fixed-rate periods of 39, 52 or 65 months, after which the loan automatically shifts to a floating-rate structure linked to the Repo Rate plus a predefined spread. The bank is currently offering home loans starting at 7.6 per cent. The product is available for home loans and loans against property across India to eligible salaried and self-employed borrowers.Read more

20 hours ago

Godrej Properties expects to generate more than INR 20,000 crore in operating cash flow over the current and next fiscal, supporting further investments in business expansion. Executive Chairperson Pirojsha Godrej said the company’s sales performance remained strong, with bookings rising 22 per cent year-on-year to INR 8,651 crore in the June quarter. The developer expects to meet or exceed its targets for sales bookings, project launches, customer collections and land acquisition. It is also targeting a 20 per cent return on equity for the next financial year while continuing to expand construction and delivery capacity.Read more

21 hours ago

The Delhi government has reiterated that existing houses in the city’s O-Zone will not face demolition, amid a political dispute over ongoing action against construction in areas along the Yamuna floodplains. Delhi Development Minister Kapil Mishra said more than 30 lakh houses in the O-Zone would not be demolished and proposed a special discussion on the matter in the Assembly. The assurance came during the Monsoon Session after AAP MLA Sanjeev Jha raised concerns over demolitions and sought legal protection for unauthorised colonies, saying the status of 12-15 lakh residents remained uncertain. The O-Zone extends for about 22 km from Wazirabad to Okhla. Mishra said BJP MPs and MLAs had discussed the issue with authorities and accused the Opposition of politicising complaints concerning construction in O-Zone areas.Read more

21 hours ago

The West Bengal government is holding discussions with the Tata group to explore fresh investments in the state, Industry Minister Tapas Roy said. The discussions are focused on sectors beyond automobiles, including the possibility of expanding the group's existing businesses or setting up new units. Tata Motors had withdrawn its Nano project from Singur in 2008 following prolonged protests over land acquisition and shifted it to Sanand in Gujarat. The state also faces a liability arising from an arbitral award of INR 765.78 crore, along with interest, related to Tata Motors' withdrawal from the project.Read more

22 hours ago

Fujiyama Power Systems Ltd has commissioned a 2 GW power electronics manufacturing facility at Ratlam in Madhya Pradesh, expanding its overall power electronics production capacity to 4.2 GW. The plant will manufacture solar inverters, UPS systems and other related power electronics products. The facility forms part of the company’s greenfield manufacturing expansion programme focused on strengthening its integrated capabilities across the rooftop solar value chain. Fujiyama said the new facility would support its manufacturing and supply chain requirements as demand for rooftop solar solutions increases across India. The Ratlam complex is also being developed with a battery manufacturing facility, which the company said was progressing as planned. In May, Fujiyama commissioned a separate 2 GW solar panel manufacturing facility at the same complex.Read more

22 hours ago

UK-listed land and property regeneration company Harworth Group has rejected a takeover proposal from its largest shareholder, Peel Holdings, saying the offer significantly undervalues the business. The cash proposal values Harworth at about £582.9 million (USD 787.15 million) and offers 172.5 pence per share for the stake Peel Holdings does not already own. Peel Group, controlled by British businessman John Whittaker, holds nearly 30% of Harworth. Harworth’s board said the proposal sought to exploit the difference between the company’s share price and the value of its assets. Harworth shares rose 1.1% to 180 pence during Friday trading, taking their gain since the offer was disclosed to 25%. The company said it remained focused on higher-return land and industrial projects and had approved plans in principle to reduce costs over the medium term.Read more

23 hours ago

Jindal Stainless Ltd is evaluating multiple land options in Maharashtra for its proposed INR 40,000 crore stainless steel manufacturing facility, with the company expecting greater clarity on the site and project plans within the next one or two quarters. The proposed plant will have a capacity of 4 million tonnes per annum (MTPA) and is planned to be developed in phases, with the first phase expected to become operational within four years. The facility will also manufacture specialised steel grades for applications in hydrogen, nuclear energy, defence, mobility, infrastructure and process industries. The Maharashtra government has committed to facilitating permissions, registrations, approvals, clearances and fiscal incentives. The company currently has a combined 3 MTPA capacity at its plants in Hisar, Haryana, and Jajpur, Odisha.Read more

23 hours ago

Eleven firms have reportedly expressed interest in taking up around 1.26 lakh sq ft of space at the Ananta IT Park in Ujjain, signalling growing demand for commercial space linked to the city’s emerging technology ecosystem. The Madhya Pradesh Industrial Development Corporation (MPIDC) is developing the project in phases, with Phase 2 involving construction of an IT park building at Ujjain. The official tender document places the value of the Phase 2 construction work at INR 46 crore, with a planned execution period of 730 days.Read more