Income tax raids on Indiabulls offices cause share drop. The company, involved in finance, lending, and real estate, saw shares fall after raids in Delhi and Mumbai.
Real estate shares are under significant selling pressure due to high inflation and interest rates, with notable declines across major companies like DLF and Unitech.
HUL sells Mumbai property to Piramal Realty for Rs 452.5 crore. The deal includes fixed and variable components and was brokered by JLL India.
Godrej Properties stock has thrived despite market downturn, benefiting from strong brand equity and low capital-intensive model.
Siva Group acquires 13.88% stake in Chennai-based Arihant Foundations and Housing
Godrej Industries partners with Godrej & Boyce and Godrej Properties to develop Vikhroli property via a new SPV, potentially before the Urban Land Ceiling Act is repealed.
Unity Infra projects wins Rs 54.56 crore contract from Amanora Park Town for construction of six towers, to be completed in 29 months.
Several major Indian real estate developers, including Emaar MGF and Godrej Properties, plan IPOs in the current year, signaling a potential recovery for the industry.
Unitech Ltd seeks to raise up to Rs 5,000 crore through securities issuance, alongside increasing share capital to Rs 1,000 crore amid an ongoing debt reduction strategy.
Satyam Computer Services reverses decision to diversify into real estate and infrastructure after shareholder protests
Shares of Indiabulls Real Estate and Indiabulls Financial Services surged following assurances of no non-performing loans and positive market sentiment due to central bank actions.
Realty stocks dipped 3.70% on Wednesday, led by Indiabulls Real Estate which plunged by over 11%. DLF also saw a decline amid weak market sentiments.
India's real estate sector is experiencing a significant downturn, prompting developers to offer extravagant incentives, such as free BMW cars, to entice buyers of luxury apartments.
Indiabulls Real Estate will raise $500 million from Qualified Institutional Buyers by issuing equity shares or convertible debentures. The decision, approved by shareholders, comes as the company's shares closed down 3.7% on BSE.
DLF, India's largest real estate company, plans a share buyback as its stock price hits an all-time low. The move aims to reassure shareholders and stabilize the declining stock value.
DLF plans to invest Rs 4,100 crore, including Rs 200 crore for an asset management firm, expanding its real estate portfolio significantly.