Business News at 05:30 pm on 27th May, 2024

Let’s begin with the major update, In recent years, India’s commercial real estate markets have experienced significant growth, driven by the emergence of innovative investment models such as flexi, fractional, and co-working segments. In particular, the rise of co-working and managed office spaces has reshaped the landscape of the Indian commercial real estate market in recent years. This change has benefited all stakeholders, including corporates, freelancers, startups, builders, and property owners. Larger corporations have also rethought their real estate strategies in light of this trend. Landlords and office owners are enjoying rewards for their investments. Pratyush Pandey, CEO of Upflex India, shared insights on the rising trend of co-working spaces and their benefits for landlords and office owners. Moving on, India’s economy likely grew at its slowest pace in a year in the January-March quarter due to weak demand, according to a Reuters poll of economists who said the possibility of growth significantly surpassing their forecasts was low. The country’s gross domestic product (GDP) unexpectedly grew by 8.4% in October-December compared to a year earlier, thanks to a sharp drop in subsidies which provided an artificial boost to net indirect taxes. But economic activity, as measured by gross value added (GVA), showed a more modest 6.5% expansion. Economists in the poll said that situation was unlikely to have been repeated in the last quarter. Growth in Asia’s third-largest economy likely slowed to an annual 6.7% in January-March. In other news, Investing for saving tax while also aiming for higher returns is a smart financial strategy, with various investment options catering to these goals. There are several investment options giving tax-saving benefits under Section 80C of the Income Tax Act, making them popular choices among investors looking to reduce their tax liabilities. The government gives several options to investors to park their money in products like Public Provident Fund (PPF), National Pension System (NPS) and long-term FDs where funds can be parked for long term and earn interest. These products cater to different risk profiles and investment horizons, allowing investors to choose based on their financial goals and risk tolerance while enjoying tax-saving benefits. Meanwhile, Divi’s Laboratories’ share price surged over 5% in the early trading session on Monday, as the company reported a 67% jump in net profit, reaching Rs 538 crore in the Q4 results year-on-year. The shares soared as much as 5.42%, reaching an intraday high of Rs 4,359 per share on the NSE. Divi’s Laboratories reported a consolidated net profit of Rs 538 crore for the quarter ended March 31, 2024, marking a 68% increase compared to the Rs 321 crore reported in the corresponding quarter of the previous financial year. The consolidated revenue for the reported quarter stood at Rs 2,303 crore, up from Rs 1,951 crore reported in the year-ago period, indicating an 18% growth. Up next, Bonds give you a viable avenue for generating passive income. You can even start with a paltry investment of Rs 10,000 and earn a steady stream of monthly income through an interest payout. Though, the specific amount earned each month depends on various factors, such as the coupon rate on bonds and the terms of the investment. Bonds allow investors to supplement their regular earnings and work towards achieving their financial goals. Explaining how one can one passive income with bond investment, Vishal Goenka, Co-Founder of IndiaBonds.com, said that on an initial investment of Rs 10,000 in bonds, an investor with a monthly take-home salary of Rs 25,000 can earn a regular monthly income. Moving ahead, A co-working space solution provider opened its IPO on May 22, which will close on May 27. Awfis Space Solutions will raise Rs 598.93 crore, out of which the fresh issue is of Rs 128 crore and 12.3 million shares will be offloaded in an offer for sale to collect Rs 470.93 crore. The company opened the issue on May 22 and will close on May 27. Retail buyers can bid in a range of Rs 364 to 383 per equity share. Awfis Space Solutions provides workspace solutions. It is India’s largest flexible workspace solutions company, based on the total number of centres. The company offers a comprehensive range of flexible workspace solutions, accommodating diverse needs from individual desks to customised office spaces. “Lastly, let’s take a look how the stocks performed today. The benchmark equity indices opened Monday’s trading session in the positive territory. The NSE Nifty 50 opens up by 81.85 points or 0.36% at 23,038.95, while the BSE Sensex gains 244.93 points or 0.32% to 75,655.32 in the opening trade. The broader indices opened in positive territory. The Bank Nifty index opens higher by 134.25 points or 0.27% to settle at 49,105.90. Divi’s Lab, IndusInd Bank, Adani Ports and SEZ, LTIMindtree, and Axis Bank were the top gainers in the Nifty 50. While Adani Enterprises, Wipro, Grasim Industries, ONGC, and SBI Life Insurance were the key laggards in the Nifty 50 on Monday, May 27. “