Govandi is located in close proximity to the following connectivity points: Highway – 5 minutes, SCLR – 7 minutes, BKC connector – 10 minutes, Eastern Express Highway – 7 minutes, Sion – Panel Express Way – 7 minutes, making it one of the most popular locations in central Mumbai. The 20-25 minutes’ drive to the sublime places of Mumbai like South Mumbai, Thane, Navi Mumbai, International Airport & BKC has driven the appreciation of GMLR-Govandi’s properties.

Govandi South is known for many important and modern residential complexes such as Mumbai Port Trust Colony, Navadurga Apartments, Orchid Residency and Patwardhan Colony. There are also Teacher’s Colony, New Deonar Municipal Colony, Lumbini Baug, Kamla Raman Nagar and Shivaji Nagar in the north of Govandi.

Govandi in GMLR has experienced a record-breaking appreciation of more than 45% over two consecutive 7-year price spans, compared to other micro-markets in the area. The average price appreciation in GMLR is 20% higher than surrounding micro markets during the same period. Govandi has experienced the highest price increase in all of Central Mumbai. (Source: Magic Bricks). Govandi is an affordable, high-growth market and as a major hub with good connectivity, has great future residential value growth potential.

Govandi has also witnessed a steady increase in property demand and prices over the last two quarters. The average price for a flat is between Rs 20,000 and Rs 25,000 per sq ft. The solid increase in demand for apartments has boosted the confidence of real estate developers and prompted them to launch more projects in this GMCG micro market.

One such project to become the icon of Govandi is the new tallest tower by Eka Life Ltd. and Dotom Realty, a premium residential project, which is now coming up in GMLR, Govandi. Domain, the Tallest Luxury, has 2 towers of 33 floors designed for new age luxury with all modern amenities. This project hosts a good retail space on the first floor that will add to the future amenities.

The real estate market in the GMCG micro market is poised for a major upswing with major infrastructure projects such as the metro, SCLR, BKC Connector, Eastern and Sion-Panvel Express Way, Eastern Freeway. Upcoming infrastructure projects also include Navi Mumbai International Airport, Monorail (II ) from Wadala to Jacob Circle and elevated highway from BKC to Sion. Demand for new residential projects in Govandi is expected to surge, leading to increased demand and a sharp rise in property prices once completed.

With the completion of these infra projects in the next few years commuting will become much easier, which will further boost real estate development in the GMCG micro market.

Ketan Musale, founder and MD of Dotom Realty, said,` “Domain is one of the few projects in central Mumbai that is being built after wind tunnel analysis by CPP Sydney, Australia, to ensure structural stability. The M70-grade concrete mix provides strength and the aluminium formwork ensures fast, consistent and excellent finish. ”

Sales in the GMCG micro market have picked up, which is a positive sign for the market and indicates that the positive sentiment is also being felt in the newer micro markets of the real estate market. Govandi is certainly fast becoming the new affordable luxury residential hub for home buyers across Mumbai.

–SURESH RATHOD

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At 09:16 AM, Nifty was down 169 points (1.05%) to trade at 15997 while Sensex was down 589 points (1.09%) to trade at 53499. The indices weakened further as the Nifty was down by more than 250 points at 9:30 AM and briefly slipped below 15,900. Sensex declined over 850 points to trade below 53,200.

From the Sensex firms, UltraTech Cement, Tata Steel, Bajaj Finance, M&M, IndusInd Bank, HDFC Bank, Bajaj Finserv and Larsen & Toubro were among the major laggards. In contrast, Power Grid emerged as the only gainer.

Meanwhile, Rupee declined 30 paise to 77.55 against US dollar in early trade, according to news agency . Global oil benchmark Brent crude futures declined 1.11 per cent to USD 106.32 per barrel.

A lacklustre trend in the domestic equity markets and a firm American currency weighed on investor sentiment. Besides, persistent foreign fund outflows and elevated crude oil prices impacted the domestic unit.

In the previous trade, the BSE Sensex ended at 54,088.39, lower by 276.46 points or 0.51 per cent. The NSE Nifty dipped 72.95 points or 0.45 per cent to settle at 16,167.10. Foreign institutional investors remained net sellers in the capital market as they offloaded shares worth Rs 3,609.35 crore, as per stock exchange data.

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Indian stock markets fell sharply today in tandem with a similar selloff in other Asian markets over fears of a new South Africa Covid variant that could be could be more infectious than Delta. The Sensex fell about 1700 points to settle at 57,107 while Nifty slumped about 3% to 17,026. Just two stocks – Nestle and Dr Reddy’s – among the Sensex 30 pack ended in green.

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After opening at its lifetime intra-day high of 47,026.02, the 30-share BSE index pared the gains to trade 141.30 points or 0.30 per cent lower at 46,749.04.

Similarly, the broader NSE Nifty slipped 44.90 points or 0.33 per cent to 13,695.80. It hit a high of 13,713.55 in early trade. It touched an intra-day high of 13,771.45.

ONGC was the top laggard in the Sensex pack, shedding around 3 per cent, followed by IndusInd Bank, HDFC twins, Bajaj Finance and Kotak Bank.

On the other hand, Infosys, HCL Tech, TCS, Nestle India and Bajaj Auto were among the gainers.

Shares of Tata Consultancy Services and Infosys touched new 52-week high on NSE on Friday after Accenture Plc announced its first quarter earnings for financial year 2021 (August ending). Post results, Accenture’s shares rose by about 7% in the US on Thursday. The company has revised its revenue growth guidance for FY21 upwards to 4-6% from 2-5% indicated at the time of announcing Q4FY20 results.

Meanwhile More companies in India are expected to line up their initial share sales in 2021, seeking to tap booming investor demand amid a rush of foreign liquidity and stronger-than-expected recovery in Asia’s third-largest economy.

According to industry experts, handsome returns reaped by investors, especially in the retail segment, will likely encourage them to look for more IPO bets next year. Indian firms raised about ₹26,000 crore via share sales this year, more than double that of last year.

Gold and silver prices fell today on some profit-taking. On MCX, February gold futures dipped 0.24% to ₹50,270 per 10 gram, snapping a three-day gain, while silver rates declined 0.6% to ₹67,882 per kg.

Sector-wise, the BSE finance, capital goods, realty, bankex, industrials, energy and health care indices rose up to 1.01 per cent, while metal, oil and gas, utilities, FMCG, and auto lost as much as 1.42 per cent.

In the broader markets, the BSE MidCap and SmallCap fell up to 0.23 per cent.

Elsewhere in Asia, bourses in Shanghai, Hong Kong and Tokyo ended with gains, while Seoul was in the red.

Stock exchanges in Europe were also largely trading on a positive note.

The global oil benchmark Brent crude futures rose 0.51 per cent to $51.34 per barrel

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Finance minister Nirmala Sitharaman has said the current upturn in economic activity in last two months is not just pent up demand and recovery is likely to sustain coming months.

“I am not just sure if just the pent up demand or festival demand will explain consistent more than ₹1 trillion collection in GST for two months. Yes, this is the season when festive demand adds a bit more fervor to demand which prevails through in a year, but I also talk to industry leaders like in core sector industries such as cement, iron and steel, who are looking at capacity expansion. It is an indication that additional demand is what is coming in and is likely to sustain,” Sitharaman said speaking at the Hindustan Times Leadership Summit.

On rising inflation which has forced the central bank to pause its rate cut cycle, Sitharaman said she is not worried about the current high level of inflation as it is seasonal in nature. “Rise in prices in commodities are largely seasonal.

“Government is very frequently looking at changes and taking conscious calls for imports, and sorting out logistical issues. The blip in inflation will ease out. I don’t see food item inflation continuing,” she added.

Asked whether the reluctance by RBI to further cut policy rates puts additional pressure on the government to take more fiscal measures to revive the economy, Sitharaman said it would need delicate, continuous real time balance by both the monetary and fiscal authorities to revive the economy. “Lot of calibration and coordination has to be worked out and we are continuing to do that,” she added.

The RBI on Friday projected the Indian economy to contract 7.5% in FY21, shallower than 9.5% contraction it projected just two months ago, on the back of a host of lead indicators suggesting sustained economic recovery.

Indian stocks hit fresh highs on Friday after the Reserve Bank of India revised upwards its GDP target for the current fiscal year. The central bank kept the interest rates steady and pledged to ensure adequate liquidity in the system.

Sensex settled at 45,079.55, up 446.90 points or 1.00%, while Nifty climbed 124.65 points or 0.95% to end at 13,258.55.

ICICI Bank, closing over 4% higher, was the top Sensex gainer followed by Ultratech Cement, Sun Pharma, Bharti Airtel and SBI. RIL, Bajaj Finserv, HCL Tech and HDFC were among the laggards. Of 30 Sensex shares, 25 closed in the green.

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Silver prices rose on Tuesday, recouping yesterday’s losses that were more than 5%, as the US dollar fell against most currencies. The US administration announced that it would start distributing doses of two Covid-19 vaccines to some citizens in attempts to contain the spreading disease.

The US dollar index plunged to its lowest in more than two and a half years overnight.

Also

Markets are closely focusing the latest updates regarding the coronavirus crisis, keeping in mind that the Trump administration intends to distribute two Covid-19 vaccines to US citizens later this month.

Decline in U.S. manufacturing activity in the month of November, and hopes that there will be a compromise in the U.S. Senate over a coronavirus relief proposal contributed to gold’s rise.

Crude oil prices drifted lower and the most active crude futures contract dropped to a one-week closing low on Tuesday, weighed down by the decision of OPEC and its allies to delay a discussion on output cuts by a couple of days.

The OPEC and its allies Russia and other major producers, who were originally set to take a call on extending output cuts beyond January, have now decided to postpone talks to Thursday.

The oil market fundamentals remain weak and point to a significant oversupply during the early point of the coming year, due to continued increase in coronavirus cases in several regions. Resumption of production in Libya from September is also contributing to fears of oversupply in the market.

Copper futures climbed to their highest level more than seven years on Tuesday, buoyed by signs of growing demand for the industrial metal, with global supplies expected to fall short of demand this year despite a dip in copper consumption tied to the pandemic.

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On the Multi Commodity Exchange (MCX), June gold contracts were trading higher by 0.54 percent at Rs 45,963 per 10 gram at 09:20 hours. Silver futures were up 0.32 percent to Rs 42,873 per kg.

An unprecedented move in WTI Crude oil on Monday in the US pushed both the precious metals up. WTI April contract slipped to negative for the first time in the history of the commodities futures market.

Experts are of the view that both precious metals are likely to consolidate, and investors could deploy buy on dips strategy for a target of 46100-46330 levels.

“Amidst the shortage of storage space, April contract settled negative and triggered safe-haven buying in both the precious metals. Gold futures contract crossed $1700 per troy ounce again,” kumar jain a gold expert says .

“Gold prices hold crucial support of 45300 at MCX and bounce again. We expect gold prices remain highly volatile today and 45300 is expected to hold in the domestic market, Prices sustain above 45800 could extend the rally towards 46100-46330 levels again.

International bullion prices have started marginally lower this Tuesday morning in Asian trade as the US dollar firmed this Tuesday morning.

Technically, LBMA Gold spot has bounced back from $1671 levels which remains immediate support to the counter. However, some consolidation could be expected in the coming sessions and prices may continue to trade in a range of $1670-$1705.

MCX Gold June on Monday held onto the immediate support near 45300 levels. However, upside 45900 levels remained intact and will act as resistance in the coming session. The intraday MCX Gold is expected to consolidate in a range of 45200-45900

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The ICICI has a $100 million exposure to Singapore-based oil trading company Hin Leon Trading Pte, which has filed for bankruptcy protection in the Singapore courts, a report by S&P-owned Platts agency said. Shares of the bank fell 5.9% to ₹339.95 on the BSE.

State-owned Bharat Heavy Electricals (BHEL) received an order to manufacture and supply heavy material handling equipment for its thermal power plant at Yadadri in Telangana. The stock was down 2.3% at ₹895 on the BSE.

Aurobindo Pharma the pharmaceutical company jumped 10% to ₹594.60 on the BSE after it said the US Food and Drug Administration (USFDA) has classified the inspection conducted at Unit IV, an injectable manufacturing formulation facility, as Voluntary Action Indicated (VAI). The inspection was held during 4-13 November, 2019

The Indian rupee opened at 76.74 against the US dollar, compared with Monday’s close of 76.54.
Top Nifty gainers, laggards Dr Reddy’s Laboratories, Cipla, Sun Pharmaceutical, Britannia and Nestle were the top gainers on the Nifty 50 index, while IndusInd Bank, Hindalco, Axis Bank, ICICI Bank and Bajaj Finance fell the most.

US stocks tumble as oil prices crash Key Wall Street indices fell after US crude futures turned negative for the first time in history, underscoring the chaos the coronavirus pandemic has unleashed on the global economy. A devastating supply glut of oil has forced traders to pay others to take the crude off their hands.

A deal announced last week between the Organization of the Petroleum Exporting Countries (OPEC) and independent producers to cut output by about 10 million barrels per day starting in May has failed to boost investor sentiment.

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Oil prices rallied Monday after top producers agreed to slash output and shore up coronavirus-ravaged energy markets, but some analysts were concerned the cuts did not go far enough.

US benchmark West Texas Intermediate was up 7.7% at USD 24.52 a barrel in Asian trade while Brent crude, the international benchmark, put on 5% to USD 33.08 a barrel.

The shares of India’s largest mortgage lender slipped into the red. At 09:53am the shares of HDFC Ltd traded 3% lower at ₹1654 apiece on the BSE while the benchmark Sensex dropped nearly 2%.

China’s central bank has raised its stake in HDFC Ltd to 1.01% from 0.8% earlier.

Zydus Cadila has received tentative approval from the USFDA to market Empagliflozin Tablets, in the strengths of 10 mg and 25 mg. The medication is used together with diet and exercise to improve blood sugar control in adults.

The Hyderabad-based company has received an establishment inspection report from the US health regulator for its Nalgonda-based active pharmaceutical ingredient manufacturing unit. “… we would like to inform you that we have received the EIR from the USFDA, for the above-referred facility, indicating closure of the audit,” it said in a regulatory filing.

The Indian rupee fell 15 paise to 76.43 against the US dollar in opening trade on Monday, tracking weak domestic equities and sharp rise in coronavirus cases in the country.

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