• Four binding offers for the 8-million tonne per annum business of Emami Cement went in from Aditya Birla flagship UltraTech, Nuvoco Vistas (formerly Nirma Cement), Ambuja Cements, a LafargeHolcim company, and Star Cement. UltraTech and Nuvoco are seen as the key contenders.
  • Housing sales declined 30% during the third quarter of this fiscal year to around 64,000 flats across nine major cities on poor demand amid economic slowdown, according to a PropTiger’s report.
  • PropTiger tracks property markets of Ahmedabad, Bengaluru, Chennai, Gurugram (including Bhiwadi, Dharuhera and Sohna), Hyderabad, Kolkata, Mumbai (including Navi Mumbai and Thane), Pune and Noida (including Greater Noida and Yamuna Expressway).
  • The government should step up expenditure to spur consumption and improve ease of doing business to rev up the economy, new FICCI president Sangita Reddy said.
  • Reddy also said that the government needed to focus on “clusters,” besides undertaking labour reforms, to boost manufacturing in the country. To spur consumption, we need to put money into the system.
  • The rate of inflation at the wholesale level surged to a seven-month high of 2.59% in December. As with retail inflation, the rise in prices of food products, especially vegetables and pulses, was the main reason for the spurt.