Patna Airport: For the first time, Air India Express is starting flight services to Patna Airport, one of the busiest airports in Bihar. From January 15, Air India Express is going to start 2 direct flights each to Hyderabad and Bengaluru and one to Bhubaneswar.
SpiceJet has also started a new direct flight to Guwahati. In the old list, there was no direct flight service from Patna to Guwahati and Bhubaneswar. Patna Airport administration has released the schedule of 39 pairs of flights till January 31. Earlier, 33 pairs of flights were operating. There has been no change in the timing of these 33 pairs of flights.
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Flight booking started
Booking for all the flights of Air India Express has started. From January 15, the first flight at Patna airport will be of Air India Express. It will come from Bangalore. Its arrival time is 9 am and departure time is 9.35 am. Currently, the first flight at Patna airport is of Air India to Delhi, which lands at 10 am and takes off at 10.35 am. In the new schedule also, this is the first flight to go from Patna to Delhi. The last flight from Patna will be of Air India Express from January 15.
Now 13 flights to Delhi
There are 13 flights from Patna to Delhi in the new list. The first flight to Delhi is of Air India at 10.35 am and the flight is of Indigo at 9.20 pm. There are 6 flights from Patna to Bangalore, 5 to Hyderabad, 3 to Mumbai, 2 each to Ahmedabad and Kolkata, and 1 each to Ranchi, Guwahati, Bhubaneshwar, Lucknow, Chandigarh, Pune, Deoghar, and Chennai.
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Gaurs Group, a leading real estate developer in India, has reported an impressive turnover of Rs 4,786 crore only for the first three quarters of FY2024-25, which is perhaps the highest in North India from a non-listed developer this year. The group’s sustained success underscores its strong market presence and commitment to delivering high-quality residential and commercial properties across key locations.
The robust performance is largely attributed to the successful launches of two luxury projects, including Gaur NYC Residences in Wave City, Delhi – Meerut Expressway, and Legacy by Gaurs in Greater Noida. Both the developments attracted overwhelming demand, with Gaur NYC Residences which had around 1,200 apartments selling out in just 48 hours while 200 condominiums of Legacy by Gaurs got sold out in 24 hours. The demand for these two luxury developments at two entirely different locations was promising not only for the group but for the entire region.
Sarthak Gaur, Director, Gaurs Group, commented: “The remarkable turnover of Rs 4,786 crore in the first three quarters of FY2024-25 is a testament to the strength of our portfolio. Completely selling out 2 projects one after the other in a matter of 2-3 days is no mean achievement and we are very proud to be in that league. We’ve focused on launching projects that offer luxury, quality, and long-term value, and the response from our customers has been very encouraging. Gaur NYC Residences in particular saw investment from all major cities of North India and also from places like Dubai and Singapore. Gaur NYC Residences got oversubscribed almost 3 times when we got almost 3,500 applications against 1,200 units. It was a humongous task to allot the units fairly and finally we decided to host a live session on YouTube for draw of appointments, which was accepted by all prospective buyers. It was perhaps a first that real estate saw apartments getting allotted through a lucky draw. This achievement reaffirms our ability to consistently perform in luxury segment and establish a leadership position.”
Gaurs Group has seen impressive year-on-year growth in its luxury segment, driven by sustained demand for premium homes in key locations. Areas such as Noida, Greater Noida, and Noida Expressway have been instrumental in the company’s success, with strong infrastructural developments fueling the demand for high-quality living spaces.
Manoj Gaur, CMD, Gaurs Group and Chairman, CREDAI National, added: “This performance highlights the growing demand for premium real estate and reflects our commitment to delivering landmark developments. With over 30 years of experience and nearly 75,000 units delivered, our track record of timely delivery and long-term value creation has strengthened our brand. As we expand further, we remain focused on delivering projects that not only offer world-class design and quality but also foster vibrant, thriving communities. We are excited to be at the forefront of the real estate revolution in the country today.”
Looking ahead, Gaurs Group, also known as Gaursons India, is poised for even greater expansion, with a robust pipeline of new launches across ultra-luxury residential and premium segments. With a solid foundation and a forward-thinking approach, Gaurs Group is well on its way to consolidating its position as a leader in India’s real estate industry.
Growth picks up in Q3 FY25, medium-term opportunities for India intactIANS
The Indian economy is showing early signs of growth pickup in Q3 FY25 as rural consumption is showing recovery due to a good monsoon season, which exceeded the long-term average by 8 per cent, according to a report on Wednesday.
The BJP-led NDA government has regained momentum and their recent wins in state elections and bye-elections have set the stage for a renewed focus on development initiatives.
This could lead to increased capital expenditures, according to the report by Motilal Oswal Financial Services (MOSL).
“The earnings trajectory in Q3 FY25 is expected to be similar to Q2 FY25, primarily driven by the BFSI sector, along with capital goods, technology, healthcare, and real estate,” the report mentioned.
It expects an 8 per cent adjusted earnings growth for BFSI universe, which will be driven by insurance (+23 per cent), PSBs (+13 per cent), NBFC non-lending (+39 per cent), NBFC lending (+8 per cent), and private banks (+2 per cent).
Notably, earnings of the capital goods sector are projected to rise 26 per cent YoY during the quarter.
“With FY25 being an election year, order inflows were expected to be weak, but orders are anticipated to ramp up from Q4 FY25,” said the report.
Markets need to watch out for both the Union Budget and the RBI monetary policyIANS
The ordering activity has remained strong across thermal power, renewables, T&D, data centres, buildings and factories, while it has been weak in water and railways.
Additionally, markets need to watch out for both the Union Budget and the RBI monetary policy.
The Union Budget will be a critical event, providing clues about a potential revival in government capital expenditure and measures to boost consumption. Similarly, the RBI monetary policy in February will also be crucial in determining interest rate trends, the report mentioned.
Overall, “the medium-term opportunities for India remain intact,” it added.
Mukhyamantri Yuva Udyami Vikas Abhiyan: Under the ‘Mukhmantri Yuva Udyami Vikas Abhiyan’, for the first time in Uttar Pradesh, a loan of up to Rs 5 lakh is being provided for 4 years without interest and guarantee to set up an industry.
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There is good news for the youth who have passed the eighth standard. Now these youth will also be able to easily start their own business. In fact, to implement the employment mission of UP Chief Minister Yogi Adityanath, the MSME department has started a new scheme ‘Mukham Mantri Yuva Udmi Vikas Abhiyan’. For the first time in the state, a loan of up to Rs 5 lakh is being given for 4 years without interest and guarantee to set up an industry.
Economic experts, CAs and retired bank officers have been deployed in every district to help the youth from application to running the project, so that maximum youth can benefit from this scheme. Chief Minister Yogi will launch the ‘Mukham Mantri Yuva Udmi Vikas Abhiyan’ on UP Day on January 24.
Application and online application for the Business Idea Scheme can be made on the department’s website . If you are not able to decide which business to start, 400 project reports and about 600 business ideas are also provided on the website to help you.
CA and bank officials will provide full support
Principal Secretary of MSME Promotion Department Alok Kumar said that the entire scheme has been made online. There is no ‘pick and choose’ system anywhere. To connect the youth with entrepreneurship, the department has deployed CAs and retired bank officials in every district, who will help the youth till the implementation of the project. Apart from this, to help the entrepreneurs, the MSME department is also going to deploy 2 CM Fellows and computer operators in every district. For the first time in the state, experts are being deployed to provide employment to the youth.
The department has implemented this scheme in 2 phases. A candidate who repays the entire principal/penal interest taken in the first phase will be eligible for the second phase. After this, he will be able to take loan for setting up projects up to Rs. 10 lakh. 50 percent interest subsidy will be given for 3 years on loan up to Rs. 7.5 lakh.
Driven by sectors such as healthcare and pharmaceuticals, consumer-related industries and technology — amid stable political scenario and favourable policy environment — private equity (PE) investments in India surged to $15 billion in 2024, marking a 46.2 per cent increase from the previous year, according to a report on Wednesday.
India’s expanding middle-class population, robust startup ecosystem, and strong IPO market provided ample opportunities for investors, according to the data shared by LSEG, a global financial markets infrastructure and data provider.
“India remains one of the top markets in the Asia Pacific for financial sponsor activity, accounting for at least 28 per cent of the region’s total equity investments during this period, up from a 15 per cent market share the previous year,” said Elaine Tan, senior manager, LSEG Deals Intelligence.
The total PE funds raised over the last three years reached approximately $23 billion, earmarked for deployment in India.
IANS
“Favourable government initiatives, anticipated global monetary easing, diverse sector opportunities, and a rising interest in integrating ESG into growth strategies are some of the key factors expected to drive private equity activity in India in 2025,” according to the report. Stable political scenario, favourable policy, infra push to drive Indian economy in 2025
According to recent projections by global brokerages and financial institutions, the Indian economy is poised to be supported by a stable political scenario, favourable policy environments, the effects of production-linked incentive (PLI) programmes, possibilities brought about by changes in the global supply chain and government emphasis on infrastructure spending.
The Indian macro remains strong among large markets except for the growth part. The Current Account Deficit (CAD) has improved significantly and is expected to be 1 per cent for FY25.
Moreover, robust services exports and healthy remittances flow should help keep the country’s CAD in the safe zone during the current financial year (FY 2024-25), according to a Crisil report.
Most domestic macro and micro indicators remain steady. Given these aspects, the domestic equity market remains focused on earnings, according to industry experts. Government spending has resumed, employment is on the rise, and supply bottlenecks are lessening.
India’s steel demand poised to grow 9 per cent in 2025 amid global slumpIANS
Steel demand in India will continue to outpace other major steel-consuming economies in calendar year 2025 with a growth of 8-9 per cent, driven by a shift towards steel-intensive construction in the housing and infrastructure sectors along with better demand from engineering, packaging and other segments, according to rating agency CRISIL’s report on Wednesday.
In 2024, the demand for steel is estimated to increase to 11 per cent in India, 5.6 per cent in Brazil even while the global steel demand is estimated to have declined by about 1 per cent, the report said.
Demand in China, the largest steel producer and consumer, declined 3.5 per cent, led by declining steel demand from the real estate sector, despite conducive policy changes and the release of support packages.
Steel demand from Europe, Japan and the US also logged an estimated demand degrowth of 2-3 per cent. However, demand growth in developing economies such as India and Brazil kept global demand from declining steeply, the report pointed out.
In 2025, India will continue to lead the pack in terms of demand while global steel demand is expected to inch up by 0.5-1.5 per cent on the back of easing financing conditions and pent-up demand from some key steel-consuming economies, which will support manufacturing activities. An anticipated recovery in residential construction in economies such as the EU, US and Korea in line with the easing of financing conditions will support growth, too, the report further states.
However, the domestic supply of steel in India remains a point of concern, the report added.
Steel demand from Europe, Japan and the US also logged an estimated demand degrowth of 2-3 per centIANS
Sehul Bhatt, Director-Research at CRISIL Market Intelligence and Analytics, said, “In 2024, supply growth from India’s mills was benign at 5.2 per cent, with extended periods of planned and maintenance shutdowns. Aggregate crude production by the top seven players increased 0.05 per cent, while finished steel production increased 0.5 per cent. However, crude and finished steel production from medium and small players increased 14 per cent and 11.3 per cent, highlighting the consistent demand growth from long steel end-users.”
Competitive imports and a decline in exports also played a role in weaker production growth in 2024. While finished steel imports increased 24.5 per cent, exports declined 6.4 per cent, leading to additional availability of 3.2 million tonnes of finished steel apart from domestic production. This additional material availability accounted for around 2 per cent of the total finished steel demand, the report said.
It also points out that finished steel imports from all key exporters to India have increased significantly in the past few years. For instance, between 2022 and 2024, while finished steel imports from China increased 2.4-fold, the import of hot rolled coils jumped 28-fold.
Similarly, the overall finished steel import from Japan increased 2.8-fold in 2024 from the base of 2022, while HRC imports increased 16.6-fold and finished steel imports from Vietnam increased eight-fold.
Domestic steel prices, meanwhile, declined in 2024, impacted by additional material availability due to an increase in net imports. HRC prices declined 9 per cent and CRC prices declined 7 per cent, thereby slowing the topline growth of domestic mills, it said.
However, falling coking coal prices, along with low volatility, have helped reduce margin pressure somewhat. Coking coal spot price for the Premium Low Volatility grade, Australia-origin, declined 12 per cent in 2024, whereas iron ore prices are estimated to have increased by 9-10 per cent during the period. Notably, China HRC export prices declined 12 per cent in 2024 and are still trading at a discount to domestic mill prices, it said.
The report said: “The imposition of a safeguard duty proposed by the industry could be a positive here. Assuming it is implemented by the end of February, steel prices in 2025 would be much higher than 2024, with the impact more prominent in the first half.”
The intensity of winter is increasing. After the sunset, fog and cold have once again kept people cold. On Tuesday too, fog remained throughout the day and people did not see the rays of the sun.
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At present, there is no hope of getting relief from the severe cold. The Meteorological Department has issued an orange alert for cold days and dense fog on Wednesday and Thursday. Due to cold, on the instructions of the DM, holidays have been declared in schools up to 12th till January 14. These orders have been issued in a letter issued by the DM of Lakhimpur Kheri.
Schools will remain closed till January 14
In view of the severe cold in the district, a holiday has been declared in schools belonging to all boards. During this, instructions have been given to open schools wherever practical examinations are to be held. The holiday will continue till January 14. Issuing the order on Tuesday afternoon, DIOS Dr. Mahendra Pratap Singh has issued instructions to the school administrators to follow the orders. In the issued letter, DIOS said that in view of the cold, classes from nursery to intermediate of all boards will remain suspended till January 14. If the time for pre-board examinations in addition to practical examinations has been fixed in the schools affiliated to various boards, then the school administrators there have the freedom to call the high school and intermediate candidates on time.
India’s domestic benchmark indices closed flat on Wednesday amid muted global cues, as selling was seen in auto, PSU Bank, financial service, pharma, metal and realty sectors.
Sensex ended at 78,148.49, down by 50.62 points, or 0.06 per cent, and Nifty settled at 23,688.95, down by 18.95 points or 0.08 per cent.
Marginal selling in market led by Bank Nifty. It ended at 49,835 down by 367.10 points, or 0.73 per cent. The Nifty Midcap 100 index closed at 56,270.60 after dropping 598.70 points, or 1.05 per cent, while the Nifty Smallcap 100 index closed at 18,365.65 after declining 307.80 points, or 1.65 per cent.
On the Bombay Stock Exchange (BSE), 1,390 shares ended in green and 2,582 shares in red, whereas there was no change in 94 shares.
On the sectoral front, IT and FMCG segments were major gainers.
IANS
According to market experts, “slowing economic growth projections and caution ahead of Q3 numbers added volatility in the market,”
“However, the market witnessed a recovery from the day’s low owing to accumulation of beaten-down blue-chip stocks and in expectation of government reforms in the upcoming budget to lift the tepid economy.”
“The near-term sentiment is likely to be subdued due to the rise in US bond yield and fear of fewer rate cuts by the Fed,” they added.
In the Sensex pack, UltraTech Cement, L&T, Sun Pharma, HDFC Bank, ICICI Bank, NTPC, SBI, Zomato, Titan, Tata Steel and M&M were the top losers. Whereas, TCS, ITC, Asian Paints, HCL Tech, Maruti Suzuki, Bharti Airtel, Axis Bank, Bajaj Finserv, Hindustan Unilever, PowerGrid, Nestle India and Tata Motors were the top gainers.
Foreign institutional investors (FIIs) sold equities worth Rs 1,491.46 crore on January 7 and domestic institutional investors bought equities worth Rs 1,615.28 crore on the same day.
Mumbai’s CSMIA 1st airport in India to attain Level 5 accreditation from ACI: Gautam AdaniIANS
The Chhatrapati Shivaji Maharaj International Airport (CSMIA) has become the first airport in India to have received the prestigious Level 5 accreditation from the globally acclaimed Airports Council International (ACI), Adani Group Chairman Gautam Adani said on Wednesday.
Gautam Adani stated that CSMIA, managed by Adani Airport Holdings Ltd (AAHL), is not only the first airport in India but also the third in the world to attain Level 5 accreditation from ACI for ‘Customer Experience’.
“There is no greater manifestation of business success than a company’s ability to serve its customers. Every moment, it is this guiding principle that I urge all members of Adani Airports to dedicate their hours to,” Gautam Adani said in a post on social media platform X.
“And there can be no greater feeling of gratitude than to have our @CSMIA_Official receive @ACIWorld’s prestigious Level 5 Accreditation for Customer Experience. Not only are we the first airport in India but also only the third in the world to do so,” the Adani Group Chairman informed.
Gautam AdaniIANS
He further said, “It is my promise on behalf of AAHL to keep serving all our passengers who walk through our airports.”
“Thank you my passengers. Thank you my colleagues at AAHL,” said Gautam Adani.
Meanwhile, CSMIA maintained its growth momentum in November 2024, recording as many as 4.77 million passengers during the month and a double-digit surge in cargo operations. The passenger traffic at the airport comprised 3.4 million domestic and 1.37 million international travellers.
During the month, the Mumbai International Airport handled 27,200 Air Traffic Movements (ATMs) — 9,696 domestic ATMs, including freighters; and 7,504 international ATMs, including cargo freighters.
CSMIA said it remains committed to maintaining its position as a leader in global aviation. With its focus on delivering world-class services and expanding connectivity, the airport continues to set benchmarks in operational excellence and customer satisfaction.
In September, CSMIA bagged the CII’s national award for Excellence in Energy Management.
Union Railway Minister Ashwini Vaishnav also made the announcement while discussing with the auto drivers present at the railway station. The Railway Minister said, if the auto drivers face any kind of problem, they can contact on the number 9717633061.
Union Railway Minister Ashwini Vaishnav reached the New Railway Station on Tuesday morning. During this, he interacted with auto rickshaw drivers and porters, heard their grievances and promised solutions to improve their working conditions. Union Minister Vaishnav garlanded the porters and auto rickshaw drivers. The Railway Minister assured the auto rickshaw drivers that their concerns would be addressed. Vaishnav promised to halve the parking fee and build a rest house at the station to provide shelter during harsh winters and monsoons.
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Union Railway Minister Ashwini Vaishnav also made the announcement while discussing with the auto drivers present at the railway station. The Railway Minister said, if auto drivers face any kind of problem, they can contact on 9717633061. Their problem will be resolved on this number. Apart from this, the Railway Minister has also announced a big relief in parking charges at Delhi Railway Station. Earlier the fee for taxi drivers was Rs 1200, but now they will have to pay Rs 400, while auto drivers had to pay Rs 700 earlier, but now they will have to pay only Rs 200.
The Railway Minister made some more important announcements for the convenience of passengers and employees. He said that rest houses will be built to avoid cold and rain. Also, more than 50 rest rooms will be built for railway porters. Apart from this, medical facilities will be improved and health services will be provided under the Ayushman Bharat scheme. Education facilities will also be provided for the children of employees in railway schools. The Railway Minister said that both the porters and passengers working at the railway station will be taken care of equally. He said that these changes and facilities have been made to improve their work so that everyone gets more facilities and they can provide their services without any hassle.
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