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Birlas betting big on realty, lines up Rs 1,000-cr capex for Birla Estates

Century Textiles & Industries, which runs three business verticals paper & pulp, realty and paper tissues, and nets over 70 per cent of the income from the first is diverting its focus onto the real estate business and has lined up Rs 1,000 crore for capex this fiscal for its ongoing and upcoming projects, including the super premium Worli project. At this level, the capex is nine times the other two businesses are getting, a top official of the AV Birla Group firm has said. Birla Estates was launched as the real estate business vertical of Century Textiles in 2016, and has large land bank cushioning the price impact thus making it more attractive considering the massive cost of land in the cities it is focusing on Mumbai and its suburbs, Delhi-NCR, Bengaluru and Pune.

United kingdomBirla alokyaBirla vanyaBirla navyaAv birla groupCentury textiles industriesAnatha raj groupCentury textilesBirla estateBombay millsCentury rayonsBirla estatesSudhrashan millsAditya birla groupBirla familyCoal nec

Birlas betting big on realty, lines up Rs 1,000-cr capex for Birla Estates this fiscal

Birla Estates was launched as the real estate business vertical of Century Textiles in 2016, and has large land bank in Mumbai and its suburbs, Delhi-NCR, Bengaluru and Pune.

United kingdomBirla alokyaBirla vanyaBirla navyaAv birla groupCentury textiles industriesAnatha raj groupCentury textilesBirla estateBombay millsCentury rayonsBirla estatesSudhrashan millsReal estate businessCentury textiles amp industriesஒன்றுபட்டது கிஂக்டம்

market outlook: Ahead of Market: 12 things that will decide stock action on Friday

By Sabari Saran NEW DELHI: Asian markets extended losses on Thursday, perpetuating the weak sentiment from the US tech rout. But mild gains in US stock at the opening tick later in the day held out promise for Friday’s session on Dalal Street, which was shut on Thursday for a public holiday. Nifty slipped 1 per cent on Wednesday, and in the process, formed a Bearish Belt Hold pattern on the daily chart. Analysts said the 50-pack is facing a stiff hurdle on the higher side, especially in the 14,900-15,000 zone. “Only a close above the 15,000 mark can activate the overall bullish stream. Otherwise, we may again see selling pressure at higher levels. Support can be seen near the 14,775-14,700 zone,” said Rohit Singre, Senior Technical Analyst at LKP Securities.

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market outlook: Ahead of Market: 12 things that will decide stock action on Wednesday

Explore Now NEW DELHI: Nifty saw a gap down opening on Tuesday, but soon recovered in the intraday session to form a bullish candle on the daily chart. The headline index snapped its four-day winning streak as it traded lower than the previous session s trading range. Market reacted to the global fear of a rise in inflation, which many fear could trigger a Fed rate hike earlier than anticipated, said Ajit Mishra, VP - Research at Religare Broking. Nifty has been struggling to cross the 15,000-mark for the last two months and is witnessing a slide again after almost reaching that level. However, we feel the downside could be capped this time due to the existence of a support around 14,600 zone, he added.

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Century Textiles & Industries reports consolidated net loss of Rs 8 41 crore in the March 2021 quarter

Century Textiles & Industries reports consolidated net loss of Rs 8 41 crore in the March 2021 quarter
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