Archive for the ‘business’ category

Top 10 richest people in India 2009 – India’s richest persons

November 19th, 2009

Top 10 richest people in India declared by forbes magazine :Previous  year, there were only 27 billionaires in India but in this year, the number has almost doubled to 52—two short of what India had at the peak of the stock market boom in 2007.

India’s richest people List incluedes :

1. Mukesh Ambani : USD 32 billion

2. Lakshmi Mittal : USD 30 billion

3. Anil Ambani : USD 17.5 billion

4. Azim Premji : USD 14.9 billion

5. Shashi and Ravi Ruia : USD 13.6 billion

6. KP Singh USD : 13.5 billion

7. Savitri Jindal : USD 12 billion

8. Sunil Mittal: USD 8.2 billion

9. Kumar Birla: USD 7.8 billion

10. Gautam Adani: USD 6.4 billion

Yamuna expressway draw result – yamuna expressway residential scheme

November 18th, 2009

The Yamuna Expressway Industrial Development Authority has declared the  residential plots results which will be built from Noida to Yamuna Agra Expressway under the Yamuna Expressway Authority Residential Scheme.

Draw for All Types (A,B,C,D & E) of Farmer Categories of Plot and General Categoryber,2009 at Communnity Center, Sector Delta-II Greater Noida at 10:00 AM. A-4000 Sq. Mtr, B-2000 Sq. Mtr. ad C-1000 Sq. Mtr. will be held on 14th October. It will be a Manual Draw.

D-500 Sq  Mtr. and Category E-300 Sq. Mtr. will be held on 17th Nov,2009 at India Expo Mart, Greater Noida at 10:00AM.It  will be a computerised draw.

You can check your Application Status.

The plots start from 1000 square meters to about 4000 square meters and are all residential on the Night Safari, Formula 1 racing track and the University. The plots have been introduced by the YEIDA.

Mr. Srivastav states that under the Yamuna Expressway Authority Residential Scheme, a total of 4,350 plots have been allotted.He said that the bigger plots ate going to be allotted on both sides of the highway. The total area of the scheme will be over 19 kilometers, stretching from greater Noida to Noloni Shahpur.

The draw results of the Yamuna Expressway Authority Residential Scheme was declare on Monday, November 16.  Each plot costs around 4,750 rupees per square meter. The plots will be available in 8 installments..

Tata Housing will develop affordable homes in Sri Lanka, Maldives and Nepal

November 14th, 2009

Tata Housing Development Company announces that it has received offers from Maldives, Sri Lanka and Nepal Governments to build affordable homes for them.

“We have received invitations from many overseas governments to build townships with affordable housing. The governments of Sri Lanka, the Maldives and Nepal have invited us to start a same model of townships we have made in Boisar, near Mumbai,” Tata Housing Development Managing Director and CEO Brotin Banerjee told reporters here.

The property development arm of Tata Group is currently developing affordable housing projects for middle income group (New Haven) and low income group (Shubh Griha) in Boisar.

The company also plans to start similar projects (affordable housing) in different metros and Tier II cities and is currently on the look out for land and partners, he said.

Enhanced Arbitrage Fund from Birla Sun Life Mutual Fund launched

July 15th, 2009

Birla Sun Life Mutual fund (BSLMF) has introduced a new fund for investors named as “Birla Sun Life Enhanced Arbitrage Fund”  to produce absolute returns by investing mostly in equity and equity related instruments.BSL Enhanced Arbitrage Fund along with cash-futures arbitrage strategy will invest primarily in cash future arbitrage, index arbitrage and buy back arbitrage.

Launch and close date
: It will open on July 14 2009, and closes on July 20 2009.

It  take advantage of  of corporate events like open offers, buy-back and merger.

How it works : Arbitrage funds works on a principle wherein returns are locked-in through a completely hedged position. It tends to neutralize the directional impact of the market.

“Due to prevailing high liquidity, we expect the liquid fund returns to reduce. Arbitrage funds come as an alternative, which can potentially generate returns higher than liquid funds in the medium term. It can also be categorized as low risk fund due to its inherent investment mechanism through which it takes complete hedge position to lock-in returns,” said A Balasubramaniam, CIO-BSLAMC.