HOUS­ING SALES UP 7% IN 2018 IN 9 MA­JOR CITIES, SAYS RE­PORT

Hindustan Times (Noida) - - HTBUSINESS -

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

₹6,95,910.71 crore.

New launches fell by 22% to 1.46 lakh units dur­ing 2018 against 1.87 lakh units in the pre­vi­ous year.

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