HOUSING SALES UP 7% IN 2018 IN 9 MAJOR CITIES, SAYS REPORT
NEW DELHI: Increased demand for flats that are ready to move in or nearing completion helped housing sales to rise by 7% during 2018 to nearly 2.15 lakh units across nine major cities, according to data analytic firm Propequity. New launches fell by 22% to 1.46 lakh units during 2018 against 1.87 lakh units in the previous year. Higher sales and fall in new supply led to 10% decline in unsold stock at around 6 lakh units as on December 31, 2018. The nine cities tracked by Propequity are Gurugram, Noida, Mumbai, Kolkata, Pune, Hyderabad, Bengaluru, Thane and Chennai. “In 2018, we witnessed over 20% fall in new launches in top nine Indian cities as developers across cities focussed on executing and aggressively selling previously launched projects. This also led to unsold inventory falling by over 10%; and effectively these top nine cities sold 7.2% more units in 2018 versus 2017 even with fewer launched projects,” said Samir Jasuja, founder and MD, Propequity.
Drone maker Aeronautics gets $232 mn buyout offer
JERUSALEM: Israel’s state-owned Rafael Advanced Defense Systems and businessman Avihai Stolero have offered to buy unmanned aerial vehicle maker Aeronautics for 850 million shekels ($232 million). The news sent shares of Aeronautics up 37% in morning trade in Tel Aviv on Sunday. Aeronautics rejected a 430 million shekel offer from Rafael and Stolero last August. Aeronautics, which had a market value of 507 million shekels on January 10, said the latest offer for all its shares would be done as a reverse merger executed through a company jointly owned by Rafael and Stolero. The company would become private and its shares delisted from the Tel Aviv Stock Exchange. Aeronautics said it had agreed to hold talks with the potential buyers and committed to giving them exclusivity. Negotiations will take place until February 15, during which time Rafael will conduct due diligence. Earlier this month, state-owned Israel Aerospace Industries said it was in early talks to invest in Aeronautics.
5 of top 10 most-valued cos add ₹43,689 cr in m-cap
NEW DELHI: Five of the top-10 most valued firms together added ₹43,689.89 crore in market valuation last week, with ITC and Infosys contributing most to the overall gain. Gainers from the top-10 list are ITC, HDFC, Infosys, SBI and ICICI Bank; while Reliance Industries Ltd (RIL), TCS, HDFC Bank, HUL and Kotak Mahindra Bank suffered losses in their market capitalisation (m-cap) for the week ended Friday. The m-cap of ITC soared ₹17,941.73 crore to ₹3,61,773.90 crore and that of Infosys jumped ₹10,026.05 crore to ₹2,98,684.46 crore. ICICI Bank’s valuation zoomed ₹8,378.07 crore to ₹2,43,822.14 crore and that of SBI jumped ₹4,506.92 crore to ₹2,70,013.40 crore. The m-cap of HDFC moved up by ₹2,837.12 crore to ₹3,41,770.70 crore. On the other hand, the valuation of Tata Consultancy Services (TCS) slumped ₹12,007.63 crore to ₹6,91,170.50 crore. Kotak Mahindra Bank’s m-cap fell ₹4,829.04 crore to ₹2,32,958.82 crore and that of Hindustan Unilever Ltd (HUL) dropped ₹2,575.93 crore to ₹3,82,785.70 crore. HDFC Bank’s valuation dipped ₹1,522.93 crore to ₹5,74,399.48 crore and that of RIL fell ₹728.93 crore to
New launches fell by 22% to 1.46 lakh units during 2018 against 1.87 lakh units in the previous year.