Mitsubishi Corporation, Sumitomo Corporation, and Mitsui Group, Japanese firms are looking to both build and buy commercial properties in the Indian cities.

 

Mitsubishi is in talks with Bengaluru-based Embassy group to build commercial properties in southern India and is in negotiations with other developers for similar tie-ups

Sumitomo had tied up with Krishna group , an auto components maker,  for a mixed-use project in the National Capital Region (NCR) and for other mixed-use projects in the country.

Last year, Mitsubishi had also invested some money in Shriram Properties’ project in Chennai.

 

On March 15, 2019 (Friday), the Indian rupee gained 24 paisa (fifth consecutive week of gain) against US dollar to close at 69.10 on account of the following factors:

  • Strong foreign fund inflow;
  • heavy buying in domestic equities;
  • dollar’s weakness against its key rivals overseas;
  • FIIs inflow in the debt and equity market;
  • Due to Stable Crude oil prices, inflation is expected to remain benign in coming months.

The five PSUs namely RITES, Mecon, National Project Construction Corporation (NPCC), Engineering Projects (India) (EPIL) and Bridge and Roof Company (India) (B&R) are likely to finalise consultants 42 stations.  Also these five PSUs are likely to finalise consultants for at least 25 stations by the end of this month.

Apart from 42 pooled stations, Indian Railway Stations Development Corporation (IRSDC), the nodal agency for station redevelopment, has already taken up 13 stations for redevelopment.

Mr Kumar Mangalam has written a letter to Securities and Exchange Board of India (Sebi) for  seeking reclassification from a promoter to a public shareholder in Kesoram Industries, a BK Birla group company.

In the letter he stated  that he has no direct or indirect managerial or other control in Kesoram and does not enjoy any special rights therein. Some of his family members, including himself, were also declared and continued to be declared promoters in a few companies which are not part of the ABG and have been managed independently.

He said that with the increasing operational and regulatory complexities, it is found that his classification as a promoter of companies other than those of the Aditya Birla Group, would have compliance challenges.

According to filings with the BSE, Kumar Mangalam directly holds 300 shares in Kesoram. His entire holding including family and entities is less than 0.0035 per cent shareholding in Kesoram Industries, which is a company forming part of BKB.

On March 14, 2019 (Thursday), the Indian rupee gained 20 paisa against US dollar to close at 69.34 on account of the following factors:

  • RBI to inject long-term liquidity into the system through dollar-rupee swap arrangement with banks for three years;
  • Strong foreign fund inflow; and
  • Capital market factoring in another term of the current Government

One may still predict gain in Indian rupee up to upcoming elections.

As per the Finance Secretary, Centre expects to meet the current fiscal deficit target, despite some likely shortfall in indirect tax collections.