Tag Archives: Investment

Newsbeat

Hyderabad Man Detained in Flat Fraud

Hyderabad man arrested for allegedly cheating hundreds on promise of flats

C Venkata Subrahmanyam, director of M S Bhuvanteza Infra Projects Private Limited, was arrested by Hyderabad police on Monday for allegedly cheating nearly 400 people by promising to sell them flats in his projects. He is accused of collecting a total of Rs. 2.29 crores from them.

According to the police, Subrahmanyam collected the money on the pretext of selling flats in his projects, but failed to deliver on his promises. The Economic Offences Wing Team – IV of Hyderabad Detective Department registered a case against him based on a complaint and arrested him.

This is a serious case of fraud, and it is important to be aware of the risks involved when investing in real estate. It is always advisable to do your due diligence before handing over any money, and to make sure that you are dealing with a reputable developer.

If you have any concerns about a potential real estate investment, you can contact the Economic Offences Wing of the Hyderabad Police Department for more information.

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Business

Sensex Soars: Record Highs with 955 Points Gain

Record-Breaking Surge: Indian Stock Market Hits All-Time Highs with Sensex Up by 955 Points

In today’s trading, the stock market in India reached a new all-time high. The BSE Sensex, which includes 30 major stocks, went up by 955 points, reaching a record of 70,540. The broader NSE Nifty index also increased by 263 points, hitting a new high of 21,189.55.

Not only the major stocks but also smaller and mid-sized ones saw positive movements. The Nifty Midcap 100 rose by 0.84%, and small-cap stocks gained 1.13%. The India VIX, an index indicating market fear, went up by 3.23% to 12.46.

This surge is attributed to the rise in shares of IT companies, which make a significant portion of their revenue from the US. This comes after the Federal Reserve mentioned progress in easing inflation while keeping interest rates steady.

In the global market, Asian markets mostly showed positive trends, and Wall Street equities gained in the previous session.

Foreign portfolio investors (FPIs) bought Indian shares worth Rs 4,710.86 crore, while domestic institutional investors (DIIs) sold shares worth Rs 958.49 crore.

Among the 15 sector gauges compiled by the NSE, 12 were trading positively. Sectors like IT, Banking, and Financial Services outperformed, while Pharma, Healthcare, and Media sectors faced declines.

On a stock-specific note, Tech Mahindra led the gains in the Nifty pack, rising by 3.73%. Other gainers included HCL Tech, LTIMindtree, Wipro, and Bajaj Finance.

However, some stocks, such as PowerGrid, BPCL, Cipla, Nestle India, and Sun Pharma, faced declines.

The market breadth was positive, with 2,199 shares advancing and 765 declining on BSE. Notable gainers on the BSE index included HDFC Bank, ICICI Bank, Infy, Reliance Industries, Tata Consultancy Services, Axis Bank, and Bajaj Finance.

Additionally, Sonata Software, Mastek, Adani Total Gas, Mphasis, HUDCO, Adani Green, Manappuram Finance, and Zensar Technologies saw significant surges, while Chambal Fertilisers, Hindustan Zinc, Nippon Life India Asset Management, and Vedant Fashions faced declines, falling up to 2%.

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Newsbeat

Gold Prices in Hyderabad Dip Sharply, Residents Rush to Buy

Hyderabad: Gold lovers in Hyderabad are flocking to gold shops across the city as the price of the precious metal has seen a significant drop in recent days. On Monday, the price of 24-carat gold, which had consistently crossed the Rs 60,000 mark in the past few months, took a surprising turn and settled at Rs 58,200 per 10 grams. This sudden drop marks one of the lowest prices recorded in recent times.

The price of 22-carat gold also saw a dip, settling at Rs 53,350 per 10 grams. This downturn in gold prices has prompted many residents of Hyderabad to seize the opportunity and invest in the yellow metal before it potentially starts rising again.

The drop in gold prices comes as a welcome surprise to many who had been holding off on making gold purchases due to the high costs witnessed over the past few months. Gold shop owners in Hyderabad have reported a surge in footfall, with customers eager to make purchases at the current favorable rates. Many individuals are taking advantage of this dip in prices to buy jewelry, coins, or bars as an investment or for upcoming festivities.

Financial analysts suggest that the dip in gold prices may be attributed to various factors, including changes in international market dynamics, currency fluctuations, and investor sentiments. While the current drop in prices may be enticing for many, experts caution that gold prices can be highly unpredictable.

Therefore, it is essential for potential buyers to do their research and understand the various factors that can affect gold prices before making a purchase. However, for those who have been waiting for the right time to buy gold, the current dip in prices presents an attractive opportunity.

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Newsbeat

Telangana attracts Rs. 2800 crore investment from Kaynes Technology for compound semiconductor unit

Telangana is emerging as a preferred destination for electronics manufacturing units, with Kaynes Technology setting up its OSAT and compound semiconductor manufacturing facility in the state with an investment of Rs. 2800 crore.

The unit, which will generate employment for 2000 people, will come up at Kongara Kalan, which is also housing Foxconn and Corning units.

Industries Minister KT Rama Rao welcomed Kaynes Technology for setting up the facility in Telangana, saying that it was a proud moment for the state to join the league of coveted global destinations that host the semiconductor industry.

The Kaynes unit would be set up in 40 acres and the management was very aggressive in its plans. Going by their speed, the unit would commence its operations in 12 to 18 months, an official associated with the development said.

Implications

The establishment of Kaynes Technology’s compound semiconductor unit in Telangana is a significant development for the state’s electronics manufacturing sector. Compound semiconductors are used in a wide range of applications, including 5G, artificial intelligence, and electric vehicles. The new unit will help to position Telangana as a leading hub for the development and manufacturing of these cutting-edge technologies.

The investment by Kaynes Technology is also a testament to the state’s favorable business environment and its commitment to promoting electronics manufacturing. Telangana has been at the forefront of attracting investments in the electronics sector, and the new unit is expected to create thousands of jobs and generate significant economic activity.

 

Newsbeat

Foxconn invests $400 million more in Telangana project

Hyderabad, August 13: Taiwan-based electronics giant Foxconn has announced that it will invest an additional $400 million in its Telangana project. The company had earlier announced an investment of $150 million in the project, which is a manufacturing facility for wearables such as Airpods.

The additional investment will be used to expand the project and create more jobs. Foxconn expects to create over 25,000 jobs in Telangana once the project is fully operational.

The announcement was made by Foxconn Chairman Sidney Lu during a meeting with Telangana Chief Minister K Chandrashekhar Rao. Lu said that Foxconn is impressed with the state government’s support for the project and its commitment to creating a business-friendly environment.

Rao welcomed the investment and said that it is a vote of confidence in Telangana’s economic potential. He said that the state government is committed to attracting more investments and creating jobs for the people.

Foxconn’s investment is a major boost for Telangana’s electronics manufacturing sector. The state is already home to several major electronics companies, including Samsung, LG, and Flex. The additional investment by Foxconn is expected to further boost the sector and create more jobs.

The investment is also a sign of the growing confidence of foreign investors in Telangana. The state has been attracting a lot of investment in recent years, thanks to its pro-business policies and its strategic location.

The investment by Foxconn is a major win for Telangana. It will create jobs, boost the economy, and attract more investment. The state government is committed to creating a business-friendly environment and attracting more investments.