Finally, 48,000 employees and 300,000 shareholders of Satyam Computer Services can heave a sigh of relief.
The company’s government-appointed board today approved Tech Mahindra’s bid to acquire 31 per cent stake in Satyam for Rs.1,756 crore ($351 million) at Rs.58 per share.
Soon, Tech Mahindra, which is acquiring the software major through its subsidiary Venturbay Consultants, will make an open offer for another 20 per cent stake at Rs.58 per share for the controlling stake (51 per cent).
Monday, April 13, 2009
Thursday, April 9, 2009
DLF launches major residential project in Delhi
You would say that I am fickle minded, for today’s post in a way contradicts my last post – Real Estate prices are really…really down.
Most of you would wonder, when real estate prices are plummeting by the day why would the builders still invest in housing projects.
Ironically, the recession hasn’t stopped big builders from doing what they are best at – making residential buildings.
The latest to join the bandwagon is DLF. The realty major has launched a massive residential project in west Delhi.
Located on Shivaji Marg, the project will consist of 1,400 flats. The 18-floor structure, which will house 2BHK and 3BHK apartments, has been priced between Rs 5,000-6,000 per square feet.
To lure the buyers in the time of recession, the company also plans to offer a discount of Rs 500 per sq. ft for buyers who pay their instalment on time.
The size of the apartments will vary from 1,200 square feet to 1,525 square feet.
Now, now…isn’t it a rather ambitious project considering that the company plans to sell flats in the range of Rs 60-90 lakhs?
Most of you would wonder, when real estate prices are plummeting by the day why would the builders still invest in housing projects.
Ironically, the recession hasn’t stopped big builders from doing what they are best at – making residential buildings.
The latest to join the bandwagon is DLF. The realty major has launched a massive residential project in west Delhi.
Located on Shivaji Marg, the project will consist of 1,400 flats. The 18-floor structure, which will house 2BHK and 3BHK apartments, has been priced between Rs 5,000-6,000 per square feet.
To lure the buyers in the time of recession, the company also plans to offer a discount of Rs 500 per sq. ft for buyers who pay their instalment on time.
The size of the apartments will vary from 1,200 square feet to 1,525 square feet.
Now, now…isn’t it a rather ambitious project considering that the company plans to sell flats in the range of Rs 60-90 lakhs?
Wednesday, April 8, 2009
Real Estate prices are really…really down
In case you are still thinking that Real Estate prices are not as low as the market pundits predict then here’s what — A 2BHK flat that was priced somewhere around Rs 23 lakhs four months ago is now priced at Rs 21 lakhs.
Isn’t it an eye opener, certainly it is.
How do I know? Read on and you will know too…
Last week my friend Abhishek who works for a reputed media company came visiting and he told me that he was still keen on buying a house.
Incidentally, he wanted to buy one three months ago in Indirapurm and had also met a builder for the purpose. At that time the builder had quoted a price of around 24 lakhs for a 2BHK flat and he would have bought it but for the paucity funds.
Around, the same time I had told him to check out Ramprastha (again in Ghaziabad), only because it is better connected to Delhi via busses and other means of transport and the price range is almost the same as Indirapuram.
That was then.
Now when he visited me, he told me that he had met a property dealer in Ramprastha and actually seen a couple of flats before coming to my place. And the fall was actually shocking.
The property dealer had told him “whatever was prices at around Rs 23 lakhs then could be easily bought for Rs 21 lakhs and if you bargain you could ask for a further reduction in prices.”
Now, that’s what I call a steal.
Isn’t it an eye opener, certainly it is.
How do I know? Read on and you will know too…
Last week my friend Abhishek who works for a reputed media company came visiting and he told me that he was still keen on buying a house.
Incidentally, he wanted to buy one three months ago in Indirapurm and had also met a builder for the purpose. At that time the builder had quoted a price of around 24 lakhs for a 2BHK flat and he would have bought it but for the paucity funds.
Around, the same time I had told him to check out Ramprastha (again in Ghaziabad), only because it is better connected to Delhi via busses and other means of transport and the price range is almost the same as Indirapuram.
That was then.
Now when he visited me, he told me that he had met a property dealer in Ramprastha and actually seen a couple of flats before coming to my place. And the fall was actually shocking.
The property dealer had told him “whatever was prices at around Rs 23 lakhs then could be easily bought for Rs 21 lakhs and if you bargain you could ask for a further reduction in prices.”
Now, that’s what I call a steal.
Thursday, April 2, 2009
Time to wipe out the mess at Satyam
Here’s another one to add to the on-going ‘Satyam Saga’.
The Satyam Computer Services today said it has made amendments to the bidding process to rank the suitors for their technical bids. And the criteria will be based on price only. Earlier, the bids were not ranked.
For those who came in late, a government appointed board is trying to sell control of the firm, which was plunged into crisis in January.
Meanwhile, the company has also said that it will share the financial details of the past 2-4 months with the buyers after scrutiny of their expression of interests.
The major buyers who have shown interest in the company are Spice, L&T and Tech Mahindra.
The Satyam Computer Services today said it has made amendments to the bidding process to rank the suitors for their technical bids. And the criteria will be based on price only. Earlier, the bids were not ranked.
For those who came in late, a government appointed board is trying to sell control of the firm, which was plunged into crisis in January.
Meanwhile, the company has also said that it will share the financial details of the past 2-4 months with the buyers after scrutiny of their expression of interests.
The major buyers who have shown interest in the company are Spice, L&T and Tech Mahindra.
Wednesday, April 1, 2009
Sensex on a high, but realty market still low
There was some good news from the stock market today, with the realty stocks helping the Sensex rise 193 points to finish in the green.
All the 13 sectoral indices on the exchange turned positive, with the indices for realty, IT and oil and gas stocks generating interest among traders owing to their low valuations.
The 30-scrip Bombay Stock Exchange (BSE) sensitive index (Sensex), which opened at 9,745.77 points, rose 193.49 points or 1.99 percent to close at 9,901.99 points.
However, whether this push will help the realty sector in reality is yet to be seen. For the real estate market is still reeling under the ongoing recession.
But, the experts say it’s not exactly recession but market correction. Maybe, but there isn’t going to be any major price hikes as far as housing is concerned.
All the 13 sectoral indices on the exchange turned positive, with the indices for realty, IT and oil and gas stocks generating interest among traders owing to their low valuations.
The 30-scrip Bombay Stock Exchange (BSE) sensitive index (Sensex), which opened at 9,745.77 points, rose 193.49 points or 1.99 percent to close at 9,901.99 points.
However, whether this push will help the realty sector in reality is yet to be seen. For the real estate market is still reeling under the ongoing recession.
But, the experts say it’s not exactly recession but market correction. Maybe, but there isn’t going to be any major price hikes as far as housing is concerned.
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