Delhi-NCR Warehousing Space Sees 4% Rise In Average Monthly Rent In H1 2023

Posted By: Pawan George Posted On: Aug 16, 2023

The average monthly rent of warehousing and logistics space in and around the national capital region rose 4 per cent annually to Rs 22.5 per square feet in the first six months of this year on higher demand, according to real estate consultant Vestian.

The leasing of warehousing and logistics space in Delhi-NCR increased 68 per cent to 4.7 million square feet in the January-June period this year as against 2.8 million square feet in the year-ago period.

Also Read: Delhi-NCR Unsold Inventory Falls 26%, Thane Has 1.07 Lakhs Unsold Homes, Highest In 9 Cities: Report

Across seven major cities, the report said micro-markets of Delhi-NCR quoted the highest weighted average rentals of Rs 22.5 per sq ft a month compared to Rs 21.6 in the year-ago period.

Bengaluru closely followed at Rs 22 per sq ft a month, showcasing the city's prominence in the logistics sector. Rent in Bengaluru remained stable.

In Pune too, the monthly weighted average rentals were flat at Rs 20.9 per sq ft, up from Rs 20.8 in the first six months of the previous year.

Monthly rent in Hyderabad stood at Rs 20.5 per sq ft as against Rs 20.4 per sq feet in the six months of the previous year.

In Chennai, the monthly rent fell marginally to Rs 19.9 per sq ft from Rs 20.

Monthly rent in Mumbai grew 2 per cent to Rs 19.7 per sq ft from Rs 19.3.

In Kolkata, the rent was stable at Rs 18.2 per sq ft a month during the January-June period this year.

“The Indian warehousing and logistics sector is sailing through global headwinds on the back of strong and sustainable fundamentals. Several mega infrastructure projects are planned across the country to improve connectivity and reduce transit time,” news agency PTI quoted Vestian chief executive officer Shrinivas Rao, as saying.

Vestian said the total leasing or absorption of warehousing and logistics space across seven major cities went up 17 per cent to 15.4 million square feet during January-June this year from 13.2 million square feet in the year-ago period.

Third Party Logistics (3PL) companies continued to be the major demand driver in the first half of 2023 with 26 per cent of the total share.

Engineering & manufacturing and FMCG companies accounted for 16 per cent and 11 per cent share, respectively.

Among cities, Delhi-NCR contributed 31 per cent of the total leasing/absorption during the first half of 2023 as against 21 per cent a year earlier.

This indicates a robust demand for warehousing and logistics facilities in and around Delhi, Noida, and Gurugram, which are prominent commercial and industrial hubs, Vestian said.

The leasing of warehousing and logistic space in Mumbai saw a 75 per cent increase to 3.8 million sq ft from 2.2 million sq ft.

Pune saw a marginal increase to 2.6 million sq ft from 2.5 million sq ft.

However, Bengaluru saw a slight dip in leasing to 1.7 million sq ft from 1.8 million sq ft.

In Hyderabad too, the leasing declined to 1.3 million sq ft from 1.4 million sq ft.

Chennai saw a drop of 67 per cent in leasing of warehousing and logistic space to 0.5 million sq ft during January-June 2023 from 1.5 million sq ft in the year-ago period.

Kolkata also saw a 23 per cent decline in demand to 0.8 million sq ft from 1 million sq ft during the period under review.

Headquartered in Chicago, Vestian has offices across the US, India, China, the UK, Sri Lanka, and the Middle East.

Source: News18
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Good News For Demat Account Holders

Posted By: Ajay Rawat Posted On: Sep 27, 2023

The Securities and Exchange Board of India (SEBI), announced on Tuesday that it has extended the deadline by three months, until the end of December, for existing demat account holders to make a choice regarding nomination or formally opt out of nomination by submitting a declaration form.

Earlier, the deadline for existing eligible trading and demat account holders to provide a choice of nomination was on or before September 30.

Also Read: Sebi Issues Revised Quarterly Reporting Format For AIFs

Additionally, submission of ‘choice of nomination' for trading accounts has been made voluntary by the capital markets regulator as a move towards ease of doing business.

The move is aimed at helping investors to secure their assets and pass them on to their legal heirs.

“Based on the representations received from the exchanges, depositories, brokers' associations and various other stakeholders, submission of choice of nomination for trading accounts has been made voluntary as a step towards ease of doing business.

“With respect to demat accounts, it has been decided to extend the last date for submission of 'choice of nomination' to December 31, 2023,” Sebi said in a circular.

PAN submission

Sebi has given time till December 31, for physical security holders for submission of PAN, nomination, contact details, bank account details and specimen signature for their corresponding folio numbers.

In July 2021, Sebi asked all existing eligible trading and demat account holders to provide a choice of nomination on or before March 31, 2022.

Later, this was extended by one more year till March 31, 2023 and again till September 30, 2023.

According to Sebi regulations, when new investors open trading and demat accounts, they are required to either designate their securities nominee or explicitly decline nomination by submitting a declaration form.

Source: News18
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Are Banks Open Or Closed Today In The City

Posted By: Ajay Rawat Posted On: Sep 26, 2023

Bengaluru Bandh: In protest of the state government's decision to release Cauvery water to Tamil Nadu, a multitude of pro-farmer and pro-Kannada organisations have come together, calling for a comprehensive ‘Bengaluru shutdown' (Bengaluru Bandh) today, on September 26th. Their collective discontent has prompted this significant action in the city.

Bengaluru Bandh Impact

Local transport organisations have joined in solidarity with the ongoing agitation, further intensifying the expected impact on normal life in the nation's prominent IT hub.

Also Read: Decoding Bengaluru Real Estate's Future: Know Expert Views & Forecasts

Educational institutions in the country's tech capital will remain closed.

Transport services, including the Bengaluru Metropolitan Transport Corporation (BMTC), app-based auto-rickshaws, and cabs, will be disrupted as most drivers' unions have decided to join the bandh.

Airport cabs are also expected to be affected. Tanveer Pasha, president of Ola Uber Drivers and Owners Association, confirmed their participation as well.

Are banks open today in Bengaluru? Check what's open

Essential services, including hospitals, nursing homes, medical shops, banks and government offices, will stay open.

Namma Metro services are being operated as usual by BMRCL. Milk booths and Petrol pumps will remain open.

What's shut in India's silicon valley?

Many industries, hotels, restaurants, shopping malls, theatres, multiplexes and other small local business establishments are expected to remain closed in a show of solidarity with the bandh call.

Public transport affected

Public transport services are likely to be affected by the bandh. However, BMTC has said that it will operate a limited number of buses on essential routes.

Flights operating normally

All flights at the Kempegowda International Airport are operating normally. However, passengers are advised to check with their airlines for the latest updates before travelling.

Police on high alert

The Bengaluru Police is on high alert in view of the bandh. Around 10,000 police personnel have been deployed across the city to maintain law and order.

Meanwhile, the government has filed an affidavit in the Karnataka High Court stating that protests will be allowed only in Freedom Park. Protestors have been warned that they will be held responsible for any violation of law and order or damage to public property.

The state government is taking precautionary and necessary measures to deploy an adequate number of police personnel to maintain law and order, it said.

Source: News18
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Kalpataru Projects International Plans to Raise Rs 150 Crore Via NCD Issuance Published 30 minutes ago

Posted By: Jogendra Kumar Posted On: Sep 25, 2023

Kalpataru Projects International Ltd on Monday said it plans to raise Rs 150 crore through issuance of non-convertible debentures (NCDs) on private placement basis. The company aims to issue 15,000 NCDs of face value of Rs 1 lakh each, aggregating to Rs 150 crore, Kalpataru Projects International said in a regulatory filing.

“The Executive Committee of the Board of Directors of the company at its meeting held today has approved the issuance of unsecured, rated, listed, redeemable, non-convertible debentures of Rs 150 crore on private placement basis,” the filing said. The NCDs will be listed on the Wholesale Debt Market segment of BSE.

The deemed date of allotment is September 29, 2023 and date for final redemption is September 29, 2027.

Source: News18
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Gold Rate Falls In India

Posted By: Preeti Dabar Posted On: Sep 25, 2023

Gold Rate Today In India: On September 25th, the retail prices for 10 grams of gold vary among different cities, averaging around Rs 60,000. To provide a more detailed breakdown, 10 grams price of 24-carat gold is around Rs 59,950, while the same quantity of 22-carat gold is available for Rs 54,950. Additionally, the current price of silver stands at Rs 75,800 per kilogram.

The retail price of gold represents the cost at which gold is sold to consumers within the country. This price is affected by various factors, including the global gold price, the value of the Rupee, and the expenses associated with labour and materials used in crafting gold jewellery.

September 25 retail gold rate in India

Ahmedabad Gold Rate

In Ahmedabad, the retail price for 10 grams of 22-carat gold is currently at Rs 55,000, while 10 grams of 24-carat gold is priced at Rs 60,000. We will keep this article up-to-date in case there are any price fluctuations throughout the day.

Delhi Gold Rate

In Delhi, the cost of 10 grams of 22-carat gold stands at Rs 55,100, while for 24-carat gold, customers are required to pay Rs 60,100 for the same quantity.

Chennai Gold Rate

22 carat gold is Rs 55,210/10 grams in Chennai. Similarly, Tamil Nadu's capital city has Rs 60,230 per 10 grams retail price of 24 carat gold.

Check gold rates today in different cities on September 25, 2023; (In Rs/10 grams)

Multi Commodity Exchange

On September 25, on Multi Commodity Exchange, gold futures maturing on October 05, 2023 were trading at Rs, 58,900. On the other hand, Silver, maturing on December 05, was at Rs 73,239.

Gold prices in India are generally influenced by a variety of factors, including global economic conditions, inflation rates, currency fluctuations, and local demand and supply dynamics.

Here are several factors that can exert influence on the price of gold:

Supply and Demand: The gold price is primarily determined by the dynamic interplay of supply and demand in the market. An increase in demand typically leads to a rise in price, while a surplus in the supply of gold can drive prices down.

Global Economic Conditions: The broader global economic landscape also exerts a substantial impact on gold prices. During periods of global economic instability or recession, investors often turn to gold as a safe haven, causing its price to increase.

Political Instability: Furthermore, political instability can have a notable effect on gold prices. When there is political turmoil or crisis in a significant nation or region, investors may opt to secure their assets by investing in gold as a hedge against uncertainty. This heightened demand can result in an uptick in the price of gold.

Gold holds great significance in India due to its cultural importance, investment value, and traditional role in weddings and festivals.

Source: News18
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FPIs Outflow In Equities Crosses Rs 10

Posted By: Vanshika Pathak Posted On: Sep 25, 2023

Foreign Portfolio Investors (FPIs) have pulled out over Rs 10,000 crore from Indian equities in the first three weeks of September, primarily due to rising US interest rates, recessionary fears, and overvalued domestic stocks.

Before the outflow, FPIs were incessantly buying Indian equities in the last six months from March to August and brought in Rs 1.74 lakh crore during the period.

Mayank Mehra, manager and principal partner at Craving Alpha, believes that strong economic growth prospects, attractive valuations, and government reforms could support foreign investment flows in the next month.

“Since valuations remain high even after the recent pullback and US bond yields are attractive (the US 10-year bond yield is around 4.49 per cent) FPIs are likely to press sales so long as this trend persists,” V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said.

According to the data with depositories, in the 15 trading days, so far in September, FPIs were sellers in 11 days with a net withdrawal of Rs 10,164 crore.

This figure includes bulk deals and investments through the primary market.

Of the total pullout of Rs 10,164 crore so far this month (till September 22), over Rs 4,700 crore was withdrawn in the last week alone.

The latest outflow came after FPI investment in equities hit a four-month low of Rs 12,262 crore in August.

FPI flows have displayed a subdued pattern over the past few weeks. This hesitancy among investors can be attributed to growing apprehensions about inflation and the interest rate landscape, particularly in the US, coupled with uncertainties regarding global economic growth, Himanshu Srivastava, Associate Director – Manager Research, Morningstar India, said.

As a result, investors have turned cautious and adopted a ”wait and watch” approach when considering investments in emerging markets like India, he added.

“Higher oil prices and elevated US yields are keeping the FPIs on the defensive, however, we infer that stable economic growth in India vis-à-vis China and other emerging markets (EMs) will draw FPIs back to the Indian equities,” Hitesh Jain, Strategist Institutional Equities Research at YES Securities India said.

On the other hand, FPIs invested Rs 295 crore in the country's debt market during the period under review.

With this, the total investment by FPIs in equity has reached Rs 1.25 lakh crore and close to Rs 28,476 crore in the debt market this year so far.

The sectoral data revealed that as of September 15, mining, power, services, oil, and telecommunication registered the highest outflows, and sectors such as financial services, capital foods, consumer services, IT, and realty attracted cumulative buying.

Source: News18
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What's Inside Your Home Insurance Policy

Posted By: Jogendra Kumar Posted On: Sep 24, 2023

Home insurance policies in India typically cover a range of risks and damages to your home and its contents, but the specific coverage can vary depending on the insurance provider and the policy terms.

Home insurance provides homeowners with financial security and peace of mind, ensuring that they are protected against a range of unforeseen events and losses that could occur to their property or belongings. It's advisable to carefully review the policy and choose a policy that suits your specific needs and budget.

Also Read: Home Buyers Take Note: What You Must Know Before Booking Under Construction Flat

Home insurance

Home insurance, often referred to as ‘Property Insurance,' is a type of insurance policy designed to protect homeowners against financial losses and liabilities related to their residential property. It provides coverage for various risks and perils that can affect the structure of the home and its contents.

What does a home insurance policy cover in India?

Home insurance policies cover the house structure as well as its contents or possessions. Many insurance policies also combine various personal insurance features too.

Here are some common components of a home insurance policy and things you should check when reviewing or purchasing one:

Structure Coverage (Building Insurance): This covers damage to the structure of your home, including the building, foundation, walls, roof, and any permanently attached fixtures and fittings. Ensure that the sum insured is adequate to cover the cost of rebuilding your home in case of total loss due to, for example, a fire or natural disaster.

Contents Coverage (Home Contents Insurance): This covers the contents of your home, including furniture, appliances, electronics, clothing, and personal belongings. Make sure the coverage amount accurately reflects the value of your possessions. You may consider additional coverage for high-value items like jewelry or art.

Burglary and Theft Coverage: Home insurance policies typically provide coverage for loss or damage to your belongings caused by burglary, theft, or housebreaking. Check the policy's terms and conditions regarding theft coverage, including any limits and requirements for security measures.

Natural Disaster Coverage: In India, it's crucial to check if the policy covers natural disasters such as earthquakes, floods, cyclones, and landslides. Some policies may require additional endorsements for specific natural disaster coverage.

Fire and Allied Perils: Ensure that the policy covers fire-related damages and allied perils like lightning, explosion, riot, strike, and malicious damage. These are typically included in standard home insurance policies.

Personal Accident Coverage: Some policies may include personal accident coverage for you and your family members in case of injury or death while inside the insured property. Check the coverage limits and conditions.

Liability Coverage: This provides coverage if someone is injured on your property, and you are held liable. It may also cover damage to third-party property caused by you or your family members. Verify the liability coverage limits.

Additional Living Expenses (ALE) Coverage: ALE coverage helps pay for temporary living expenses if your home becomes uninhabitable due to a covered loss. Check the ALE limits and conditions.

Valuables and High-Value Items: If you have valuable items like jewellery, antiques, or art, inquire about coverage for these items. You may need to schedule them separately or purchase additional coverage.

Exclusions and Deductibles: Carefully review the policy for any exclusions (what is not covered) and the deductible amount (the amount you must pay before the insurance coverage applies).

Policy Renewal and Premiums: Understand the renewal process and premium payment terms. It's essential to pay your premiums on time to maintain coverage.

Claims Process: Familiarise yourself with the insurer's claims process and the documentation required in case of a claim. Quick and efficient claims processing is crucial during emergencies.

Policy Term and Coverage Period: Know the policy's term and the specific coverage period, including any waiting periods or restrictions on coverage.

Review Annually: Your insurance needs may change over time, so it's a good practice to review your policy annually and make necessary adjustments.

What to check when buying a home insurance policy in India

When buying a home insurance policy in India, it is important to compare the policies offered by different insurers to find the one that best meets your needs and budget. You should also carefully review the policy document to understand the specific coverage that is offered and any exclusions or limitations.

You can also consult with an insurance broker to get help finding the right home insurance policy for your needs and budget.

Source: News18
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Bengaluru Supremacy In Data & Analytics Jobs

Posted By: Preeti Dabar Posted On: Sep 24, 2023

While data-driven decisions remain ever-critical to organisations, the overall number of jobs in data science and analytics has seen a degrowth in the last 12 months, says a new report. A combination of factors, including the prevailing global macroeconomic uncertainty, are impacting these roles especially in the IT industry.

Also Read: Bengaluru Pays Highest Salary In India; Jobs With Lucrative Salaries To Rise: Report

Great Learning, the professional and higher education platform, has published the ‘Analytics and Data Science Jobs in India 2023' report. It aims to give a perspective about the changing jobs landscape in this domain and can help professionals leverage the available opportunities better.

Also Read: Festive Season Hiring: 6 Most In-demand Job Roles In India; Check Indeed Survey

BFSI sector reports the highest share of data analytics jobs in 2023

According to the report, in 2023, the BFSI sector saw India's single-largest share of data science and analytics jobs with over 1/3rd of such jobs overall. This growth has been driven by the use of new technologies such as AI/ML and big data analytics to enhance operations like risk management, fraud detection, and customer service.

With data science being used in almost every function, financial institutions are beginning to hire a lot more personnel to make better decisions.

The share of IT sector jobs among the overall data science and analytics jobs has seen a significant reduction since last year. This can be attributed to global recessionary trends, especially in the US and Europe, where a lot of IT sector clients are located.

Similarly, jobs in energy & utilities as a percentage of the whole dropped compared to 2022, whereas those in retail & CPG and pharma & healthcare have risen this year.

Data jobs are growing in important metros like Chennai and Hyderabad; Bengaluru still holds the largest share

Being the country's tech capital, Bengaluru continues to hold the largest share of data science and analytics jobs despite a slight drop from 2022.

Other locations, such as Delhi NCR, Hyderabad, and Chennai, have had an increase in their share as organisations migrate towards other talent hubs, with Bengaluru slowly reaching a saturation point.

In particular, Chennai's automotive and manufacturing sectors and Hyderabad's booming pharmaceutical & biotechnology industries are additionally generating greater demand for data science professionals as these sectors adopt data-driven approaches.

MNC IT & KPOs still account for the highest share of jobs this year; domestic non-IT firms report highest jump in job openings compared to 2022

The maximum openings for data science and analytics jobs in India in 2023 were in MNC IT & KPOs as these organisations typically work with larger clients and, resultantly, manage large amounts of data. However, their share of data jobs has dropped over the previous year mainly due to the recessionary macroeconomic scenarios in the western world impacting the sector.

While the job openings for data and analytics in MNC IT & KPOs have gone down by 21 percentage points (pp) vs 2022, those in domestic non-IT firms and domestic IT & KPO firms have increased by 20 pp and 8 pp respectively, compared to the previous year.

While jobs available for mid-level professionals are growing, there is a decline in open jobs for senior-level professionals

The number of data science & analytics jobs was primarily skewed towards professionals in the 2–5 years and 5–7 years experience bracket. These two work-ex categories have even historically been favoured because of their adaptability and lower cost to organisations compared to more senior age groups.

Besides, professionals in these brackets have relevant skills and practical experience, giving them an edge over freshers. In 2022, the share of jobs for the 2–5 years and 5–7 years work-ex bracket was the same.

While there has since been an increase in positions in both groups, the 2–5 years experience bracket sees a higher jump (13 pp) in openings as a consequence of cost-cutting measures amidst the recession.

Opportunities for more experienced individuals (7+ years) have reduced—with the tough macroeconomic conditions and the resulting preference of organisations to upskill their employees internally instead of making fresh, expensive hires.

More positions are available in the 6–10 LPA salary range for analytics & data science specialists

Open data science and analytics jobs in the income ranges between 6–10 LPA and 10–15 LPA make up close to 60% of all data related jobs in 2023. This statistic is in line with the rising number of jobs for those with 2–5 and 5–7 years of experience. The information also reiterates the fact that organisations aren't as keen on hiring freshers and more experienced personnel this year.

MBA degree becomes prerequisite for a growing number of data science & analytics jobs, highlighting a stronger business integration of the field

There has been a decrease in vacant positions in the data science domain for those graduating with engineering degrees largely due to the decline in freshers' hiring across industries because of macroeconomic conditions.

Hiring freshers is a cost-intensive affair as organisations need to train them before deploying them on projects. However, data science and analytics jobs for MBA graduates have gone up this year as firms are increasingly interested in hiring candidates with not just data science skills but also managerial skills to manage existing teams.

MBA degrees with data science & analytics specialisations are aiming to fulfil this increased demand.

‘Business analyst' remains the most in-demand job role; NLP, data architect, and AI/ML engineer roles on an upward trajectory in 2023

While ‘business analyst' remains the most in-demand position this year by volume, the share of data jobs for AI/ML engineers, big data analytics, data architects, computer vision, and NLP has grown since 2022.

NLP roles, especially, have seen their share significantly rise over the last year as they are vital for applications like virtual assistants and sentiment analysis. A decreasing trend has been seen in roles for deep learning, data engineering.

Hari Krishnan Nair, co-founder, Great Learning, said, “India is in the midst of a massive digital transformation supporting business operations globally, and there is a considerable push towards embracing data-driven decisions to achieve more efficient business operations. This year's report has sprung some surprises—but once economies rebound, we can expect data science and analytics jobs in India to grow further and open up more unique job profiles.”

Source: News18
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Analysts Keep Eyes On Global Trends & Foreign Investments In Weekly Market Analysis Published 22 minutes ago

Posted By: Tarun Kumar Posted On: Sep 24, 2023

Global trends, trading activity of foreign investors and movement of oil benchmark Brent crude would dictate terms in the domestic markets this week, analysts said.

Equity markets, which fell nearly 3 per cent last week, may face volatile trends amid the monthly derivatives expiry on Thursday.

“This week marks the September month Futures and Options (F&O) expiry, which is expected to bring about volatility in the market,” said Santosh Meena, Head of Research, Swastika Investmart Ltd.

Concerns like rising crude oil prices, firm US dollar index and treasury yields coupled with continuous FII selling have been denting the sentiment in the markets, Amol Athawale, Vice President – Technical Research, Kotak Securities Ltd, said.

“Global and domestic macroeconomic data, trend in global stock markets, crude oil prices, movement of rupee against the dollar, investment by FIIs (Foreign Institutional Investors) and DIIs (Domestic Institutional Investors) will be in focus.

“Market will take further cues from some key events such as the US GDP data, UK GDP and Eurozone inflation,” Arvinder Singh Nanda, Senior Vice President, Master Capital Services Ltd, said.

In the past week, the BSE benchmark fell 1,829.48 points or 2.69 per cent, and the Nifty declined 518.1 points or 2.56 per cent.

Equity benchmark indices stayed on the back foot for the fourth straight session on Friday.

“Last week has seen significant profit-booking in the market, primarily driven by a steep decline in HDFC Bank, weak global cues, and substantial selling by foreign institutional investors. The global markets are facing challenges, particularly after the ultra-hawkish FOMC (Federal Open Market Committee) policy,” Meena said.

After reaching record high levels, equity benchmark indices fell last week amid a weak trend in global markets.

“While the FOMC kept key interest rates unchanged in their recent meeting, the markets reacted negatively to the US Fed's hawkish stance on interest rates. Crude prices remain elevated,” said Shrikant Chouhan, Head of Research (Retail), Kotak Securities Ltd.

Source: News18
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Micron Begins Construction on $2

Posted By: Anita Mamgai Posted On: Sep 24, 2023

Union IT Minister Ashwini Vaishnaw on Saturday said that India has embarked upon its journey to become a semiconductor hub, as US-based Micron Technology broke grounds for its about Rs 22,500 crore ($2.75 billion) chip assembly and test facility here.

Stressing that India will soon need Rs 5 lakh crore worth chips to meet the growing demand, the minister said within three months of Prime Minister Narendra Modi meeting Sanjay Mehrotra, the President and CEO of Micron Technology in the US, the company has started construction on its plant which is unprecedented.

Micron has committed to investing up to $825 million in building the semiconductor assembly and test facility in India, with support from the government.

The combined investment of $2.75 billion is projected to create around 5,000 direct jobs and offer 15,000 community job opportunities over the next five years.

Rajeev Chandrasekhar, Union Minister of State for Electronics and IT, said that for a country that has missed several opportunities for the last 70 years, this is a historic and epic moment.

“We have made tremendous strides in the last 9-10 years. It is certainly a very important milestone and I have absolutely no doubt that this Micron's state-of-the-art plant will be a beacon to all investors, other manufacturers and participants in the global semiconductor ecosystem,” Chandrasekhar told the gathering.

The Assembly, Test, Marking and Packaging (ATMP) of the company is being set up on 93 acres in Sanand GIDC-II industrial estate and is expected to be commissioned within 18 months. The facility will focus on transforming wafers into Ball Grid Array (BGA) – integrated circuit packages, memory modules and solid-state drives.

In July, Prime Minister Narendra Modi promised 50 per cent financial assistance to players wishing to set up semiconductor manufacturing facilities in the country.

At the SemiconIndia 2023 in Gandhinagar, he had said that “we are continuously carrying out policy reforms to accelerate the growth of the country's semiconductor sector”.

Source: News18
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Gold, Silver Prices Today, September 23

Posted By: Aditya Gogoi Posted On: Sep 23, 2023

Gold Price Today In India: As of September 23, the retail rates for 10 grams of gold vary across various cities, with an approximate price of Rs 60,000. To offer a more comprehensive breakdown, 10 grams of 24-carat gold are currently valued at Rs 59,830, whereas the same quantity of 22-carat gold can be obtained for Rs 54,840. Additionally, the current price of silver is Rs 75,500 per kilogram.

September 23 retail gold rate in India

Delhi Gold Rate Today

In Delhi, 22 carat gold was priced at Rs 54,990/10 gram. For 24 carat, customers have to pay Rs 59,930/10 grams.

Ahmedabad Gold Rate

The retail price of 22-carat gold in Ahmedabad is Rs 54,890 per 10 grams and the rate of 24-carat gold is Rs 59,880 per 10 grams. This article will be updated if the prices change during the day.

Chennai Gold Rate

22-carat gold is Rs 55,090/10 grams in Chennai. Similarly, Tamil Nadu's capital city has Rs 60,100 per 10 grams retail price of 24-carat gold.

Check gold rates today in different cities on September 23, 2023; (In Rs/10 grams)

On September 22, on the Multi Commodity Exchange, gold futures maturing on October 05, 2023, closed at Rs, 58,941. On the other hand, Silver, maturing on December 05, was at Rs 73,350.

Gold prices in India are generally influenced by a variety of factors, including global economic conditions, inflation rates, currency fluctuations, and local demand and supply dynamics.

Here are several factors that can influence the price of gold:

Supply and Demand: The gold price is primarily shaped by the interplay of supply and demand in the market. When demand for gold increases, the price tends to go up. Conversely, a surge in the supply of gold can lead to a decrease in the price.

Global Economic Conditions: Global economic conditions also wield a significant influence on the price of gold. During periods of global economic downturns, investors often turn to gold as a safe haven, causing the price to rise.

Political Instability: Additionally, political instability can impact the price of gold. When there is political turmoil or crisis in a major country, investors may seek to safeguard their assets by investing in gold as a hedge against uncertainty, resulting in a higher gold price.

Moreover, the retail price of gold in India represents the cost at which gold is sold to consumers within the country. This price is affected by various factors, including the global gold price, the value of the Rupee, and the expenses associated with labor and materials used in crafting gold jewelry.

Gold holds great significance in India due to its cultural importance, investment value, and traditional role in weddings and festivals.

Source: News18
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Bussiness Stocks to Watch: Nifty futures traded 26 points, or 0.13 per cent, higher at 19,816, signaling that Dalal Street was headed for a positive start on Monday. Here's a slew of stocks that will be in focus today for various reasons. Stocks to Watch: Nifty futures traded 26 points, or 0.13 per cent, higher at 1
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Bussiness OMG 2, directed by Amit Rai, received a warm welcome from the audience. The film, featuring Pankaj Tripathi, Akshay Kumar, and Yami Gautam, achieved a strong opening at the domestic box office on its first day of release. OMG 2, directed by Amit Rai, received a warm welcome from the audience. The film, f
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Bussiness MCX Q1 Results: Multi Commodity Exchange of India (MCX) announced its April-June quarter results for fiscal 2023-24 (Q1FY24) on July 29, reporting a decline of 52.5 per cent in consolidated net profit of ₹19.66 crore, compared to ₹41.46 crore in the corresponding period last year. The operating inc
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Bussiness Power trading solutions provider PTC India on Saturday posted a 5.62 per cent year-on-year rise in its consolidated net profit at ₹142.70 crore for the April-June quarter of this fiscal, mainly on the back of higher revenues. Power trading solutions provider PTC India on Saturday posted a 5.62 per ce
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Bussiness As the deadline for filing Income Tax Returns (ITR) is just one day away, the department stated that more than 6 crore tax returns have been filed for income earned in the 2022-23 fiscal year as of Sunday evening. A total of 27 lakh ITRs have been received by the income tax department, number which has surp
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Bussiness Petrol, and Diesel Prices on August 10: The price of Petrol and Diesel remained constant on Wednesday, August 10 across major cities like New Delhi, Kolkata, Mumbai, and Chennai. The petrol and diesel rates for each day, whether new or constant, are announced at 6 am on the day. These, however, vary fro
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Bussiness RBI MPC Meeting 2023 Live Updates: Will Guv Das Hike Repo Rate Or Leave it Unchanged? Updated 1 hour ago
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Bussiness LPG Cylinder Rates: Oil marketing companies have cut the price of 19 kg LPG gas cylinders across the country. There has been a reduction of Rs 100 in Delhi. At the same time, a reduction of around Rs 93 has been made in other metros. Now 19 kg cylinder will be available in Delhi for Rs 1680, which was till now a
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Bussiness Petrol, and Diesel Prices on July 31: The price of Petrol and Diesel remained constant on Monday, July 31 across major cities like New Delhi, Kolkata, Mumbai, and Chennai. The petrol and diesel rates for each day, whether new or constant, are announced at 6 am on the day. These, however, vary from state t
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Bussiness India and Britain could sign a free trade agreement (FTA) this year as both countries have reached consensus on the broad contours of the proposed deal aiming to boost economic growth and jobs, a top Indian trade ministry official said. India and Britain could sign a free trade agreement (FTA) this yea
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Bussiness Balrampur Chini Mills posted strong Q1 results on Saturday as their profit jumped a whopping 493% to touch ₹73.5 crore during the quarter ending June 2023. During the same quarter last fiscal, the company posted consolidated net profit of ₹12.38 crore. The revenue of the company rose 28% from ₹1,094.
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Bussiness The price of gold marginally dropped on Thursday, with the cost of 1 gram of 22 carat gold declining to ₹5,495 from yesterday's ₹5,505, as per the figures released by Goodreturns. Accordingly, the price of 8 grams of 22 carat gold also decreased to ₹43,960 from the previous figure of ₹44,040, marking a p
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Bussiness Reliance Industries Ltd, India's most valuable company, has sought shareholder's approval to give Mukesh Ambani another five-year term as chairman and managing director of the company till 2029 -- a period during which he has opted to draw nil salary.
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Bussiness Go First airline, which has been grounded since early May, has announced a further extension of flight cancellations till July 31, the airline announced in a tweet on Sunday. Go First airline, which has been grounded since early May, has announced a further extension of flight cancellations till Jul
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Bussiness In order to settle the pending contractual disputes of government and government undertakings, the finance ministry has launched the ‘Vivad se Vishwas II – (Contractual Disputes)' scheme, according to an official statement released on Wednesday. Finance Minister Nirmala Sitharam announced th
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Bussiness If you did not link your Permanent Aadhaar Number (PAN) to Aadhaar before June 30, your PAN is now considered inoperative. This means you'll face some problems with your financial activities and taxes. For instance, you won't be able to invest in bank fixed deposits or mutual fund schemes, file income
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Bussiness IT electronics refurbishing firm NewJaisa Technologies's initial public offering (IPO) will be open for subscription on Monday, i.e September 25. The company aims to raise ₹39.93 crore through its IPO. The issue will close for subscription on September 27. The company's IPO had opened for anchor investors on Friday. The fresh issue size is of 84,96,000 equity shares at face value of ₹5 each.
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Latest News India is currently seeing a surge in cases of acute conjunctivitis or eye flu. It is caused by various factors, such as allergies or infections, resulting in inflammation of the conjunctiva that covers the white part of the eyeball. The incessant rain, humid conditions, and waterlogging are providi
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Bussiness The Reserve Bank of India (RBI) has announced the launch of the Pilot Project for Public Tech Platform for Frictionless Credit by Reserve Bank Innovation Hub (RBIH), a wholly-owned subsidiary of the RBI. The Reserve Bank of India (RBI) has announced the launch of the Pilot Project for Public Tech Platform for Frictionless Credit by Reserve Bank Innovation Hub (RBIH), a wholly-owned subsidiary of the RBI.
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Bussiness India's foreign exchange reserves jumped $708 million to $602.161 billion for the week ended August 11, the Reserve Bank of India (RBI) said on Friday. This is the first increase in the kitty after declining for three consecutive weeks. In the previous reporting week, the overall reserves had declined $2.417 billion to $601.453 billion.
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World Ukrainian President Volodymyr Zelensky arrived in the Netherlands on Sunday aiming to strengthen his country's air power, a day after a “heinous" Russian missile strike killed seven people and wounded 148 in Chernihiv. Ukrainian President Volodymyr Zelensky arrived in the Netherlands on Sunday aiming to strengthen his country's air power, a day after a “heinous" Russian missile strike killed seven people and wounded 148 in Chernihiv.
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Entertainment Filmmaker Anurag Kashyap recently gave a glowing review to Karan Johar's directorial comeback Rocky Aur Rani Kii Prem Kahaani. After Anurag revealed he loved, cried and watched the film twice, many users took to the comment section of his post and criticised the film. Responding to them all, Anurag c
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World China has released a new documentary about the army's preparation to attack Taiwan and showcasing soldiers pledging to give up their lives if needed as Beijing continues to ramp up its rhetoric against the self-ruled island. China has released a new documentary about the army's preparation to attac
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Bussiness Gogoro In, a global technology leader in battery-swapping ecosystems that enable sustainable mobility solutions for cities, today announced a vehicle partnership with Swiggy, India’s leading on-demand convenience delivery platform. Gogoro In, a global technology leader in battery-swapping ecosystems that enable sustainable mobility solutions for cities, today announced a vehicle partnership with Swiggy, India’s leading on-demand convenience delivery platform.