India Business

20 Special Economic Zones approved by Board of Approval

HDFC Closes First International Realty Fund At $800 Mn

HDFC BankMumbai: The Housing Lender HDFC today announced closure of its first sponsored HDFC International Real Estate Fund (HIREF) at $800 million, which would be invested in FDI-compliant Indian real estate plans.

According to a company release, the fund makes HDFC the biggest player in the realty private equity space in India.

One of the prime international realty pools, the nine-year close-ended fund, which was open only to foreign investors had been privately placed and subscribed by 28 investors.

Sun TV Subsidiary acquires 48.9% stake in Red FM

RED FMSun TV arm, South Asia FM (SAFL) has signed up a strategic partnership agreement with Red FM.

Sensex Gains Over 200 Pts In Early Trade

Stock MarketMumbai: The benchmark Sensex climbed up after gaining more than 200 points on the BSE in early trade on growth of funds buying, actuated by tautening worldwide trend.

In first five minutes of trading, the BSE-share index rise dramatically by 207.77 points at 15, 200.81 on brisk buying by funds in blue chip shares.

Likewise, the wide-base National Stock Exchange’s Nifty also gained 51.05 points to touch 4410.35.

TRAI Suggests Changes in Licensing Program

Telecom Regulatory Authority of IndiaNew Delhi: Telecom Regulatory Authority of India (TRAI) has made a few suggestions in its recommendations on licensing program reforms released.

GMR Group Undergoes Organizational Re-Alignment

Bangalore: GM Rao GroupSpeedy development in various key segments has coerced the Rs 30,000-crore infr