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Mumbai Industrialist Buys Four Luxury Apartments In Mumbai For Rs 80 Crore


Mumbai industrialist buys four luxury apartments in Mumbai for Rs 80 crore
Several high-value deals were concluded in December to meet the state’s deadline for a 2 percent stamp duty cut.
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A leading industrialist has bought four luxury apartments in Mumbai’s upmarket Worli area for Rs 80 crore, joining the list of celebrities and industrialists who are making the most of the stamp duty cut in India’s financial capital.
Amit Mahendra Mehta, chairman, Diamines & Chemicals Ltd, has bought four apartments in Raheja Artesia located on the 31st floor for Rs 80 crore. These are: Unit number 3102 with carpet area 3,875 sq ft for Rs 22.5 crore; unit number 3101 with area of 3,064 sq ft for Rs 17.8 crore; house number 3103 with an area of 3,875 sq ft for Rs 22.5 crore and unit number 3104 with an area of 3064 sq ft for Rs 17.8 crore. These units come with three car parks each. ....

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Stamp Duty Cut, Discounts By Developers Drive Property Sales Worth Rs 34,000 Crore In Mumbai In December


Stamp duty cut, discounts by developers drive property sales worth Rs 34,000 crore in Mumbai in December
The surge in December sales, which is more than double the volume sold in November 2020 or December 2019, is unlikely to be sustained as stamp duty rose from 2% to 3% from January 1. However, another spurt is likely in March when stamp duty will be hiked to the original level of 5 percent
A stamp duty cut by the Maharashtra government, low interest rates, discounts offered by developers and the Covid-19 induced price correction saw the Mumbai registrar’s coffers swell as homebuyers made the most of the opportunity and came forward to buy property. ....

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Equity indices trade in range; auto stocks tumble


Benchmarks traded sideways with a negative bias in mid-morning trade. At 11:30 IST, the barometer index, the S&P BSE Sensex, fell 32.52 or 0.07% at 46,928.01. The Nifty 50 index declined 17.8 points or 0.13% at 13,742.95.
In broader market, the S&P BSE Mid-Cap index was down 0.17% while the S&P BSE Small-Cap index was up 0.09%.
The market breadth, indicating the overall health of the market, was almost even. On the BSE, 1351 shares rose and 1363 shares fell. A total of 139 shares were unchanged.
On Friday, Foreign portfolio investors (FPIs) bought shares worth Rs 2,720.95 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 2,424.61 crore, provisional data showed. ....

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Market drifts lower in early trade


Key indices are trading lower in early trade on negative Asian stocks. At 9:25 IST, the barometer index, the S&P BSE Sensex, was down 192.68 points or 0.41% at 46,768.01. The Nifty 50 index was down 59.60 points or 0.43% at 13,700.95.
The S&P BSE Mid-Cap index was down 0.6%. The S&P BSE Small-Cap index was up 0.44%.
The market breadth, indicating the overall health of the market, is weak. On the BSE, 870 shares rose and 1235 shares fell. A total of 88 shares were unchanged.
Stocks in news:
Reliance Industries (RIL) advanced 1.12%. RIL and bp on Friday announced the start of production from the R Cluster, ultra-deep-water gas field in block KG-D6 off the east coast of India. RIL and bp are developing three deepwater gas projects in block KG D6 - R Cluster, Satellites Cluster and MJ - which together are expected to meet approximately 15% of India s gas demand by 2023. These projects will utilise the existing hub infrastructure in KG D6 block. RIL is the operator of ....

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RIL, Infosys, Lupin in spotlight


Reliance Industries (RIL) and bp on Friday announced the start of production from the R Cluster, ultra-deep-water gas field in block KG-D6 off the east coast of India. RIL and bp are developing three deepwater gas projects in block KG D6 - R Cluster, Satellites Cluster and MJ - which together are expected to meet approximately 15% of India s gas demand by 2023. These projects will utilise the existing hub infrastructure in KG D6 block. RIL is the operator of KG D6 with a 66.67% participating interest and bp holds a 33.33% participating interest.
Infosys on Friday (18 December 2020) announced that it has divested one-third of its holding in Boston-based Whoop Inc for about $10 million. In 2015, Infosys had made a minority investment of $3 million in Whoop, which offers performance optimisation solutions for professional athletes and sports teams. ....

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