Bombay Dyeing selling worli land for Rs 5,200 cr

The Company has agreed to sell 22 acres in Worli to Sumitomo Realty & Development Company Limited, a large commercial real estate investor and developer in the Japanese market. Sale is in two phases Phase 1 –¬† Bombay Dyeing (BDMC) will receive about Rs. 4,675 crore from the buyer by October 2023. Phase 2 – … Read more

Reliance Retail targets fund raise through InvIT

Reliance (RIL) is doing everything that one could possible imagine. Whether it’s fund raises or businesses, it’s everywhere. Now it’s subsidiary Reliance Retail Ventures (RRVL) has filed a document with SEBI to raise funds through the InvIT route. (This is the fourth InvIT from Reliance following it’s infrastructure trusts in gas pipelines, Jio telecom towers … Read more

Elon Musk Is Wrong. the Housing Market Won’t Crash.

Elon Musk tweeted that US home values are set to plummet. Selma Hepp, the chief economist at CoreLogic, said that’s not going to happen. The nation’s dearth of housing supply will keep home prices high and prevent a crash. Elon Musk, the world’s richest person and TIME’s 2021 person of the year, has voiced polarizing … Read more

Raymond sells FMCG business to GCPL. Demerges Lifestyle.

Restructuring/ consolidation continues at Raymonds. It has taken further key decisions – 1. The associate Company, Raymond Consumer Care Limited (RCCL), sells FMCG business to Godrej Consumer Products (GCPL). The divested business include condom brands KamaSutra and Premium and deodorant brands Park Avenue and DS.¬†Raymond’s condom plant in Aurangabad, Maharashtra, will continue to do the … Read more

Govt proposes taxation changes related to REITs, InVITs

Seeking to widen the tax base, the government on Wednesday proposed to tax income distributed by business trusts like REITs and InVITs in the form of debt repayments at the hands of unitholders. “It is proposed to tax distributed income by business trusts in the hands of a unit holder (other than dividend, interest or … Read more

WeWork to cut 300 jobs globally as inflation weighs on workspace spending

WeWork Inc said on Thursday it plans to cut about 300 roles across countries to cut costs as high inflation weighs on office workspace spending. The New York-based company, which offers workstations, private offices and customized floors, had enjoyed a pandemic-driven shift to flexible work outside traditional offices. But with companies cutting their spending, WeWork … Read more