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Sobha to invest Rs 800 cr on new luxury housing project in Greater Noida
The Bengaluru-based company has got all regulatory approvals to launch its project 'SOBHA Aurum' in Greater Noida, comprising 420 apartments
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Economic Times
26 minutes ago
- Economic Times
China's Xiaomi receives almost 300,000 SUV pre-orders in minutes
Reuters Chinese electric vehicle maker Xiaomi received almost 300,000 pre-orders within an hour for its first sport utility vehicles in what the company said was a "miraculous" moment for the Jun, founder and CEO of the electronics-turned-car company, said he was astonished by the reaction from customers. "My goodness, in just two minutes, we received 196,000 paid pre-orders and 128,000 lock-in orders," Lei said in a video distributed after the vehicle's launch on Thursday night. "We may be witnessing a miracle in China's automotive industry."The company's electric vehicle division said later on its official Weibo account that there had been 289,000 pre-orders for the five-seater YU7, priced from 253,500 yuan (about $35,000), within the first hour of Hong Kong-listed shares soared eight percent at one point before paring their gains but ending at a record Beijing-based commercial tech giant made its first foray into car-making with its SU7 EV model last year, part of a broader industry push to boost domestic enthusiasm for intelligent driving features in such vehicles was tempered by the fatal crash of a Xiaomi SU7 in March. The vehicle had been in assisted driving mode just before it crashed, killing three Li Qiang used the World Economic Forum in Tianjin this week to outline China's ambition to become a "major consumption powerhouse", emphasising policies to stimulate demand for high-value goods such as electric vehicles. Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. Profits plenty, prices attractive, still PSU stocks languish. Why? Why Sebi must give up veto power over market infra institutions Oil, war, and the Hormuz gambit: Why the 2025 standoff won't mirror the 2022 shock! Second only to L&T, but controversies may weaken this infra powerhouse's growth story Stock Radar: Titan Company bounces back after testing 200-DMA in June; breaks out from 1-month consolidation – what should investors do? Long- or medium-term investing: Invest in ability & balance sheet; 6 large-caps from different sectors, with upside potential of up to 36% Weekly Top Picks: These stocks scored 10 on 10 on Stock Reports Plus These large- and mid-cap stocks can give more than 23% return in 1 year, according to analysts
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Business Standard
an hour ago
- Business Standard
Singapore healthcare firm Rollins ends investment deal with EaseMyTrip
Rollins International has pulled out of a deal that would have online travel agency EaseMyTrip acquire a 30 per cent stake in the healthcare company, the OTA told exchanges earlier this week as it pursues opportunities in India's medical tourism industry. The two companies in September had signed definitive agreements for EaseMyTrip to acquire a stake in Rollins through a share swap deal of Rs 60 crore. The OTA allotted 32.9 million fully paid-up equity shares to Rollins in April 2025. 'Following thorough internal deliberations and detailed discussions with the management of Rollins, we have reached a collective decision to not proceed with the transaction,' said Rollins in a letter to EaseMyTrip. 'Upon evaluation of our long-term strategic direction and evolving vision, we have concluded that proceeding further with the transaction may not be fully aligned with our goals moving forward. Considering the interests of all our stakeholders, including our internal team and future aspirations of Rollins — we believe this course of action is the most responsible at this stage,' it said. Rollins is a subsidiary of Singapore-based RHA Holdings and focuses on gluten- and lactose-free food products, allergen-free health supplements, and wellness therapies and technologies. EaseMyTrip, in September, decided to enter India's growing medical tourism sector by acquiring a 49 per cent equity stake in Pflege Home Healthcare for Rs 30 crore, and a 30 per cent stake in Rollins International for Rs 60 crore. Pflege Home Healthcare assists patients seeking treatment in Dubai and it is taking the service to the United Arab Emirates, Singapore, Thailand, Turkey, India, and Malaysia. In the March quarter, EaseMyTrip posted a consolidated net profit of Rs 13.9 crore. Revenue from operations dropped 15.2 per cent to Rs 139 crore, from Rs 164 the year before. Air ticketing continued to be the company's biggest revenue driver.


Time of India
an hour ago
- Time of India
Shadowfax likely to file confidential DRHP papers to raise Rs 2,500 crore next week
TPG-backed logistics service provider Shadowfax is likely to file draft papers with capital markets regulator Sebi through a confidential route for its IPO to raise up to Rs 2,500 crore early next week, according to sources. The confidential pre-filing route allows a company to withhold public disclosure of details under the draft red herring prospectus (DRHP) until later stages. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like When the Camera Clicked at the Worst Possible Time Read More Undo Sources said that the Initial Public Offering (IPO) of Shadowfax is expected to be in the range of Rs 2,000-2,500 crore. The public issue comprises a mix of fresh issue of shares and offer for sale (OFS) by existing shareholders. The company is expected to be valued around Rs 8,500 crore, they added. The company plans to utilise the proceeds from the fresh issue towards enhancing capacity, driving growth, and further investments in the company's network business, as per the sources. Live Events In February this year, the company had raised funds at an approximate valuation of Rs 6,000 crore. Bengaluru-based Shadowfax is backed by marquee investors such as Flipkart, TPG, Eight Roads Ventures, Mirae Asset Ventures and Nokia Growth Funds. The e-commerce segment is the major revenue contributor, accounting for around 75 per cent of the business and the remaining comes from quick commerce and hyperlocal deliveries. Founded in 2015 by IIT Delhi alumni Abhishek Bansal, Vaibhav Khandelwal, Praharsh Chandra, and Gaurav Jaithliya, the company stands as one of India's leading logistics service provider for e-commerce express parcel and value-added services. With a robust distribution network covering over 2,200-plus cities and more than 14,300 PIN codes, Shadowfax has established itself as a market leader in the logistics industry.