Bangalore | Business Upturn

B. L. Kashyap secures Rs 180 crore order for Bangalore project

Kinjal — Wed, 06 May 2026 06:16:30 +0000

B. L. Kashyap and Sons has announced the receipt of a significant order worth ₹180 crore. The contract, awarded by Immencity Office Parks Pvt. Ltd., involves civil and structural works for the Century Red Oak Commercial Building Block 1 located at Shivanahalli, Yelahanka Hobli, Bangalore.

The project is slated for completion within approximately 18 months and is classified as a domestic order. The scope of work primarily focuses on the construction of civil and structural elements for the commercial building.

There are no interests from promoter or promoter group companies in the entity awarding the contract, and the transaction does not qualify as a related party transaction.

The Letter of Intent (LOI) for this order was received and accepted by B. L. Kashyap and Sons on 5th May 2026 at 1:54 pm.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Sobha reports record sales of ₹81.36 billion for FY26

Yash Agarwal — Mon, 04 May 2026 12:41:47 +0000

Sobha Limited has achieved a record sales figure of ₹81.36 billion for the financial year ending March 31, 2026. This notable performance underscores the company’s robust growth trajectory and strong market position in the real estate sector.

The total operational cash inflow for the year stood at ₹77.98 billion, with a net operational cashflow of ₹16.37 billion. The company reported a total revenue of ₹53.84 billion, while the profit after tax was recorded at ₹1.93 billion, representing a profit margin of 3.6%.

Sobha’s gross debt as of March 31, 2026, was ₹10.02 billion, with a cash balance of ₹18.02 billion. The average interest cost for the company was 7.69%. The credit rating outlook for Sobha was upgraded to AA- Positive by Ind-RA, with ICRA maintaining a stable outlook at AA-.

In terms of project completions, Sobha completed 5.40 million square feet of saleable area, which included 3,188 homes across 39 towers and 58 row houses and villas. The company launched 6.04 million square feet of new projects across 9 projects in 6 cities.

Sobha’s strategic focus remains on disciplined growth, operational excellence, and maintaining high-quality standards. The company is well-positioned to capture demand growth across key markets such as Bangalore, NCR, Hyderabad, and Mumbai.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Biocon reports Rs 200 crore commercial paper issuance for March quarter

Arunika Jain — Wed, 29 Apr 2026 14:18:22 +0000

Biocon Limited has issued a quarterly certificate confirming the utilisation of proceeds from its commercial paper (CP) issuance for the quarter ending 31 March 2026. The total issuance of CPs during the calendar year up to this quarter amounted to Rs 200 crore.

The company certified that the CPs were issued for the purposes specified in Annexure I, with proceeds utilised accordingly. Biocon confirmed adherence to all other listing conditions as outlined in the application for listing. The asset classification of fund-based facilities from banks and financial institutions remains “Standard.”

Biocon assured that there has been no material change in its financial status that could negatively impact the credit rating of the commercial paper.

The CPs were issued on two occasions: one on 22 December 2025, with an ISIN of INE376G14040, valued at Rs 1800 crore, and maturing on 20 March 2026. The funds from this issuance were used for the acquisition of equity shares in a subsidiary. The second issuance occurred on 2 January 2026, with an ISIN of INE376G14057, valued at Rs 200 crore, and maturing on 3 March 2026. The proceeds were used for the redemption of debentures issued by Biocon and the acquisition of debentures issued by a subsidiary.

Biocon has fully bought back and fulfilled its payment obligations for both CPs as of 30 January 2026.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Puravankara subsidiary secures Rs 144.45 crore contract for Bangalore project

Arunika Jain — Wed, 29 Apr 2026 13:03:57 +0000

Starworth Infrastructure & Construction Limited (SICL), a wholly owned subsidiary of Puravankara, has received a Letter of Intent from NPS Developers for a significant construction project in Bangalore. The contract, valued at approximately ₹144.45 crore, involves the execution of civil, structural, waterproofing, finishes, and allied works for the residential project named Nature’s Nest. Located at Survey No. 54/4, Chinnagenahalli, Doddabanahalli, Bangalore District, Karnataka, the project is set to enhance the residential landscape of the area.

The contract is structured as an item rate contract and is expected to be completed within a 28-month timeframe. The agreement is classified as a domestic contract, with no involvement of international entities. Furthermore, the promoter group or group companies of Puravankara have no interest in NPS Developers, ensuring that the contract does not fall under related party transactions.

This development marks a significant milestone for SICL, reinforcing its position in the construction sector and its commitment to delivering high-quality residential projects. The contract value of ₹144.45 crore excludes GST and Labour Cess, underscoring the substantial scale of the project.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Bharat Electronics secures orders worth Rs 569 crore for FY 2026-27

Yash Agarwal — Wed, 22 Apr 2026 10:19:28 +0000

Bharat Electronics Limited (BEL), a Navratna Defence Public Sector Undertaking, has announced the acquisition of orders valued at ₹569 crore. This marks the beginning of its order acquisition for the financial year 2026-27.

The significant orders secured by BEL encompass a diverse range of products and systems, including avionics, electronic warfare (EW) systems, high energy lasers, communication equipment, tank subsystems, laser-based fuzes, and various test equipment. Additionally, the orders include upgrades, spares, and related services, indicating a robust demand for BEL’s offerings in the defence sector.

This announcement underscores BEL’s strategic role in India’s defence manufacturing sector, where it continues to deliver advanced technological solutions to meet the evolving needs of the armed forces. The orders reflect BEL’s commitment to enhancing its product portfolio and expanding its market presence both domestically and internationally.

Bharat Electronics, with its headquarters in Bangalore, is recognised for its contributions to the defence electronics sector, providing a range of products and services that support the operational requirements of the Indian armed forces. The company’s focus on innovation and quality has enabled it to maintain a competitive edge in the industry.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

BEML secures Rs 590 crore order from Ministry of Defence

Kinjal — Tue, 21 Apr 2026 10:17:57 +0000

BEML has announced a significant order win from the Ministry of Defence for the supply of Trawl Assemblies, valued at approximately ₹590 crores. This development marks a notable achievement in BEML‘s ongoing business operations, showcasing its capability to secure substantial contracts within the defence sector.

The order is part of BEML’s regular business activities and highlights the company’s strategic alignment with national defence objectives. The contract for Trawl Assemblies, which are essential components for military operations, underscores BEML’s expertise and reliability in delivering critical defence equipment.

This contract further strengthens BEML’s position as a key player in the defence manufacturing industry, contributing to the company’s growth and reinforcing its reputation for quality and innovation. The order is expected to have a positive impact on BEML’s financial performance, reflecting its ability to meet the demands of high-value contracts.

The announcement follows BEML’s ongoing efforts to expand its footprint in the defence sector, aligning with government initiatives to boost indigenous defence production. The successful acquisition of the Ministry of Defence order exemplifies BEML’s commitment to supporting India’s defence infrastructure through indigenous manufacturing capabilities.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Goldiam opens 22nd and 23rd retail stores for lab-grown diamond jewellery

Business Desk — Mon, 06 Apr 2026 04:34:22 +0000

Goldiam International has expanded its retail footprint by opening its 22nd and 23rd stores for lab-grown diamond jewellery under the brand name ‘ORIGEM’. The new stores commenced operations on April 6, 2026, in Hyderabad and Bangalore.

The Hyderabad store is located at Shop No 2, Ground Floor, Sama Towers, Municipal no – 3-6-365/A, Himayathnagar, while the Bangalore store is situated at No:27, Aljosan, New BEL Road. These openings are part of Goldiam’s long-term strategy to enhance its retail presence and strengthen customer engagement across key markets.

The company has previously opened stores in various locations including Mumbai, Bengaluru, Noida, and other major cities across India. The expansion reflects Goldiam’s commitment to growing its retail network and reaching more customers with its lab-grown diamond offerings.

Goldiam International plans to continue updating the stock exchanges with further developments as it progresses with its expansion plans.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Sobha achieves record sales value of ₹81.36 billion in FY26

Arunika Jain — Fri, 03 Apr 2026 11:17:00 +0000

Sobha Limited concluded FY 2026 with its highest-ever annual sales, recording a value of ₹81.36 billion. The company achieved a new sales area of 5.54 million square feet at an average realisation of ₹14,675 per square foot. Despite global uncertainties, India’s residential real estate sector remained resilient, supported by robust domestic consumption and a stable home-buying environment.

In FY 2026, Bangalore led the charge, registering a historic sales value of ₹44.78 billion, contributing 55% to the total sales. The NCR region followed with a sales value of ₹24.55 billion, contributing 30%. Sobha launched two new residential projects in Greater Noida and one serviced residences project in Gurgaon during the year. Kerala contributed ₹8.08 billion to total sales, supported by new towers launched in Marina One, Cochin, and a new project in Trivandrum. Other cities accounted for ₹3.96 billion, representing 5% of total sales.

For Q4 FY26, Sobha recorded a sales value of ₹20.39 billion, with 1.34 million square feet of new sales area at an average price of ₹15,268 per square foot. Bangalore’s sales value was ₹10.37 billion, contributing 51% to overall sales, while the NCR region clocked ₹6.10 billion, supported by the launch of Sobha Rivana towards the end of March 2026.

Sobha’s share of sales value reached a historic high of ₹67.06 billion, reflecting a growth of 35% over FY25. The average realisation improved by 9% over FY25 to ₹14,675 per square foot. The company extended its real estate presence to Greater Noida and Mumbai, launching 6.01 million square feet of saleable area across nine projects in six cities in FY26. Sobha completed 3,188 homes, amounting to 5.40 million square feet of saleable area across multiple projects.

In Q4 FY26, Sobha launched three projects across three cities, with a total saleable area of 3,281,376 square feet. Sobha Woods Whispering Hill in Trivandrum, Sobha Altair in East Bangalore, and Sobha Rivana in Greater Noida were among the new developments, offering a range of 2, 3, and 4-bedroom configurations.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Mphasis faces Rs 151.73 crore tax demand for AY 2020-21

Business Desk — Mon, 30 Mar 2026 16:33:40 +0000

Mphasis has received a significant tax demand order amounting to ₹151.73 crore for the assessment year 2020-21. The order, issued under sections 201 and 201(1A) of the Income Tax Act, 1961, was accompanied by a notice of demand under section 156 of the same act. This development was communicated to the company on 30 March 2026 by the Office of the Deputy Commissioner of Income Tax, International Tax, Circle 1(1), Bangalore.

The scrutiny of Mphasis‘ case for the assessment year 2020-21 was conducted under section 133(6) of the Income Tax Act. The primary issue highlighted in the order pertains to the demand for tax deducted at source (TDS) on payments made to foreign associated enterprises, along with the interest accrued on these payments.

Despite the substantial demand, Mphasis’ management remains confident that the claims are not maintainable against the company. The company asserts that there will be no material financial impact as the core issue of non-deductibility of tax on similar overseas payments has seen favourable precedents in previous assessment years for other entities in the industry.

Mphasis is currently evaluating its legal options and intends to file an appropriate appeal against the demand order. The company believes it has a strong case on merits and is optimistic about a favourable outcome at the appellate stage.

The order did not impose any penalties, restrictions, or sanctions on Mphasis. The company has identified the demand as relating to tax deductible at source on payments for subcontracting charges to overseas subsidiaries and associated enterprises.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Indiqube signs Rs 75 crore workspace deal with healthcare tech GCC in Bangalore

Kinjal — Mon, 30 Mar 2026 11:37:16 +0000

IndiQube Spaces Limited, a prominent tech-enabled workspace solutions provider, has signed a significant workspace leasing agreement valued at ₹75 crore with a leading Global Capability Centre (GCC) in the healthcare technology sector. The agreement involves over 48,000 sq.ft. of premium Grade A workspace located along Bengaluru’s Outer Ring Road, a prime commercial area.

This strategic deal highlights the increasing demand from GCCs for high-quality, scalable workspaces in key business districts. It further cements IndiQube’s reputation as a preferred partner for such centres.

Rishi Das, Cofounder of IndiQube, commented on the development, stating, “We are seeing a clear acceleration in demand from GCCs, especially in sectors like healthcare technology where India is becoming a hub for global innovation and delivery. These organizations are setting up highly specialized teams and are looking for workspace partners like IndiQube who can support them with speed, flexibility, and reliability.”

Meghna Agarwal, also a Cofounder of IndiQube, added, “GCCs today account for close to 40% of our portfolio, and what stands out is their clear preference for strategically located, high-quality workspaces within established talent catchments like ORR. With a ‘follow the talent’ approach, we have focused on building depth within key talent catchments, enabling us to support GCCs across different stages of growth and evolving operational needs.”

IndiQube is one of India’s fastest-growing workspace platforms, offering managed office solutions tailored to startups, Global Capability Centres (GCCs), and large enterprises. With a presence in 17 cities and over 9.55 million sq. ft. under management, IndiQube combines design, technology, and hospitality to create future-ready work environments.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

This article is written by Kinjal and reviewed by Markets Desk before publication.

ABB India faces Rs 17.68 lakh penalty from customs authority

Arunika Jain — Wed, 25 Mar 2026 12:31:20 +0000

ABB India has been issued a penalty of ₹17,68,303 by the Office of the Principal Commissioner of Customs in Bangalore, along with a redemption fine of ₹1,77,000. The penalty arises from a mis-declaration of the value of goods and contravention of the Customs Act, 1962.

The order, dated 24 March 2026, was received by ABB India on the same day. The company has announced its intention to appeal the decision, expressing optimism for a favourable outcome at the appellate level. ABB India does not anticipate any material impact on its financial or operational activities as a result of the order.

The customs authority identified the mis-declaration as a violation of the provisions of the Customs Act, 1962. ABB India is preparing to contest the order, maintaining that the penalty will not significantly affect its business operations.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

BEML secures first overseas metro rolling stock order worth USD 60 million

Yash Agarwal — Wed, 18 Mar 2026 09:08:41 +0000

BEML has achieved a significant milestone by securing its first-ever overseas order for metro rolling stock. The company has received a Letter of Intent for the design, manufacture, supply, testing, and commissioning of standard gauge metro rolling stock for the African region.

The order, valued at approximately USD 60 million, marks a notable achievement for BEML as it expands its footprint into the international market. This contract involves the supply of stainless-steel standard gauge metro rolling stock, showcasing BEML’s capabilities in delivering high-quality transport solutions on a global scale.

This development is a testament to BEML’s growing reputation and expertise in the metro rolling stock sector. The company, which has been a key player in the domestic market, is now poised to make its mark internationally with this strategic entry into the African region.

The successful acquisition of this order highlights BEML’s commitment to expanding its business horizons and tapping into new markets, thereby reinforcing its position as a leading provider of metro rolling stock solutions.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Titan Company redeems Rs 1,000 crore commercial papers issued in February 2026

Business Desk — Mon, 16 Mar 2026 11:25:49 +0000

Titan Company has successfully redeemed its commercial papers worth ₹1,000 crore, which were issued on 16th February 2026. The maturity proceeds have been duly paid to all holders as of today.

The redemption aligns with the guidelines set by the SEBI Operational Circular concerning the issue and listing of non-convertible securities and other financial instruments. The commercial papers bore the ISIN INE280A14526.

A copy of this announcement is available on Titan Company‘s official website.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Izmo announces strategic partnership with CCRAFT and Alcyon to boost silicon photonics

Business Desk — Mon, 16 Mar 2026 06:08:21 +0000

Izmo Microsystems has entered into a strategic partnership with CCRAFT SA and Alcyon Photonics to advance silicon photonics solutions for various markets.

The collaboration involves designing, producing, and commercialising photonic integrated circuit solutions for datacom, telecom, aerospace, and sensor markets. CCRAFT, a Swiss foundry, and Alcyon, a Madrid-based design leader, will work with Izmo to leverage their respective expertise in the photonics value chain. Izmo Microsystems, part of NSE-listed Izmo Limited, will contribute its semiconductor packaging capabilities, which are crucial for translating chip designs into production-ready systems. The partnership aims to create a comprehensive photonics value chain, enhancing Izmo’s position in the global silicon photonics supply chain. Silicon photonics is increasingly important for AI and next-generation communication networks, with the market expected to grow significantly in the coming years. The collaboration also aligns with the European Chips Act, which prioritises photonics, and supports India’s Aatmanirbhar Bharat semiconductor initiative by bridging technology between India and Europe.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

This article is written by Business Desk and reviewed by Aman Shukla before publication.

Suprajit Engineering’s promoter acquires 10,000 shares for ₹4,049,600

Business Desk — Mon, 16 Mar 2026 06:06:19 +0000

Suprajit Engineering’s promoter, K. Ajith Kumar Rai, has acquired 10,000 shares, increasing his holding to 38,25,380 shares, representing 2.79% of the company’s total voting capital. The acquisition was executed through the open market on 13 March 2026.

The transaction, valued at ₹4,049,600, saw Rai’s shareholding rise from 2.78% to 2.79%. The shares of Suprajit Engineering are listed on both BSE and NSE. The acquisition was part of the promoter group’s ongoing investment in the company.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

This article is written by Business Desk and reviewed by Aman Shukla before publication.

Jubilant Ingrevia to acquire Remidex Pharma for Rs 16.5 crore

Business Desk — Fri, 13 Mar 2026 14:48:33 +0000

Jubilant Ingrevia has announced its acquisition of Remidex Pharma Private Limited for ₹16.5 crore, marking a strategic expansion into the human nutrition sector.

Remidex, based in Bangalore and established in 1981, specialises in manufacturing micronutrient premixes and nutraceuticals. The company reported a turnover of ₹24.27 crore for the fiscal year 2024-25. This acquisition allows Jubilant Ingrevia to advance its position in the human nutrition value chain, particularly in the premix market, building on its leadership in vitamins B3 and B4. The acquisition is set to be completed within 30 days, with Remidex becoming a wholly owned subsidiary of Jubilant Ingrevia. The transaction is structured as a cash consideration and does not involve any related party transactions.

Remidex is recognised for its high-grade manufacturing facility in Bangalore, holding certifications such as WHO-GMP and FSSC. The company has a strong customer base, known for its innovation and quality control capabilities, making it a significant player in the human nutrition industry. Over the past three years, Remidex has shown consistent performance with turnovers of ₹31.15 crore in FY 2023-24 and ₹30.51 crore in FY 2022-23.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Titan Company redeems commercial papers worth Rs 1000 crore

Business Desk — Wed, 11 Mar 2026 11:19:29 +0000

Titan Company has successfully redeemed its commercial papers valued at ₹1000 crore. The commercial papers, which bore the ISIN INE280A14518, were issued on 11th December 2025. The maturity proceeds have been duly paid to all holders as of today.

The redemption aligns with the SEBI Operational Circular guidelines regarding the issue and listing of non-convertible securities and other financial instruments. This move reflects Titan Company’s commitment to maintaining financial discipline and meeting its obligations promptly.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

5 offbeat getaways near Bangalore for a perfect weekend vacation

Aman Shukla — Sat, 16 Nov 2024 11:09:19 +0000

Bangalore, the bustling IT hub, is more than just traffic and work schedules. If you’re looking to rejuvenate away from the city’s chaos, these serene and lesser-known destinations near Bangalore are ideal for your next weekend adventure.

Here are 5 offbeat getaways near Bangalore for a perfect weekend vacation

1. Kanakapura

Located just 60 km from Bengaluru, Kanakapura is a serene haven on the banks of the Arkavathi River. This peaceful town boasts lush greenery, nature trails and calm waters. Activities like trekking, birdwatching, and temple visits make it an ideal spot for a day trip or a nature-filled overnight stay.

2. Savandurga

At 50 km from Bengaluru, Savandurga is home to one of Asia’s largest monolithic hills. Hike its rugged trails for breathtaking sunrise and sunset views, or simply soak in the untouched beauty of the surroundings. Perfect for adventurers seeking solitude, this spot promises serenity and awe-inspiring vistas.

3. Bheemeshwari

A haven for nature enthusiasts, Bheemeshwari is renowned for its scenic river views and tranquil landscapes. Enjoy fishing, riverside picnics, or leisurely walks, and explore the nearby Bheemeshwari Wildlife Sanctuary. For a complete escape, book a stay in an eco-cottage surrounded by lush greenery.

4. Gandikota

This charming hamlet on the Pennar River, 280 km from Bengaluru, features stunning red stone cliffs and a historic fort. Often called the “Indian Grand Canyon,” Gandikota offers panoramic views of a dramatic gorge, making it a must-visit for photographers and history buffs alike.

5. Gudibanda

Perfect for spontaneous trips, Gudibanda is just 90 km from Bengaluru. Explore the 400-year-old Gudibanda Fort, built by Byre Gowda, and enjoy the panoramic views it offers. Its peaceful vibe makes it an excellent destination for a memorable day out with loved ones.

Laila Majnu actress Sahiba Bali slammed for comparing Southern Indian English accent with North India’s

Adnan Nasir — Thu, 29 Aug 2024 20:37:17 +0000

Recently, actor Sahiba Bali spoke about how people in Bengaluru speak English. During a recent podcast, she spoke about how this is a culture that influences her when she comes down to the city. People seem to be irked over her remark as many have started slamming her, for comparing how English is spoken in Southern and Northern India.

In a podcast with Amin Jazayeri, she says, “In India, everywhere you go, it is different English; like Bangalore English is very different.” Then she gives an example to support her comment and says, “You are worried, it seems.” Check out the whole video below as she tells the story.

View this post on Instagram

A post shared by UNTRIGGERED with AminJaz (@untriggeredpodcast)

Having been viewed over 8.6 million times, the post has gone viral. “Rubbish!.. Born n brought up in blr! We apparently know about 5 languages along with Hindi too.. Just to make u guys feel home!” commented an Instagram user. Similarly, another said, “North Indians can’t even pronounce the word English properly. Engliss.”

Yet, a few came to her defense and said she was not mocking the way English is spoken in the city. “Not once have these people criticised the way English is spoken in Bangalore. On the contrary, they are expressing their love for the uniquely Bangalorean way it is spoken. Yet, most comments I read here are triggered people targeting North Indians for not knowing the language altogether. Why this sudden hatred, man? Why this sudden divide? It’s sad,” read a comment.

5 beautiful road trips from Bangalore you can’t miss in this monsoon season

Aman Shukla — Fri, 28 Jun 2024 04:09:44 +0000

A lot of visitors visiting Bengaluru fall in love with the bustling life of the city. However, there is still so much to find in and around Silicon City, India. The city serves as the ideal starting point for a road trip that will never be forgotten as the monsoon turns the Western Ghats a vivid green.

Here are 5 beautiful road trips from Bangalore you can’t miss in this monsoon season

1. Skandagiri

Don’t forget to visit Skandagiri if you are planning a road trip from Bangalore. This hill, close to Chickballapur, is well-known for “walking above the clouds.” Skandagiri is famous for night trekking. On full moon nights, trekkers begin their trek around 2 a.m. and climb to the top to view the sunrise.

2. Avalabetta

Avalabetta is a beautiful place to take a road trip from Bangalore. It’s a hilly retreat and a heaven for nature lovers. Avalabetta, located on the Bellary road around 90 kilometres from Bangalore, is peaceful and beautiful.

3. Coorg

Go southwest and explore the fascinating Coorg area. There is a lot to see and do here, including lush coffee farms and snaking roads that pass through fascinating valleys covered in mist.

4. Chikmagalur

For a fun getaway, head to the peaceful hills of Chikmagalur. The highways are surrounded by lush coffee farms that fill the air with the rich fragrance of freshly roasted beans. Adventure seekers can trek up the Baba Budangiri hills, which are well-known for their ancient mysterious caves.

5. Lepakshi

Lepakshi is a small temple devoted to Papanasheshvara that is a marvel in itself. This location is defined by a natural rock shelter on a hill and is still revered by the locals. The temple is renowned for its beautiful architecture.

5 must-do treks near Bangalore

Aman Shukla — Mon, 27 May 2024 04:38:05 +0000

Are you going hiking this weekend anywhere near Bangalore? If so, you’ll find our list of the top hiking destinations close to Bangalore useful when you start your research. Let’s begin our adventure to some lesser-known but extremely interesting hiking locations close to Bangalore.

Here are 5 must-do treks near Bangalore

1. Channarayana Durga Trek

The Channarayana Durga Trek is situated in the Karnataka district of Tumakuru. The stunning, majestic fort portrays the medieval era and served as a key strategic fortress in the Madhugiri and Tumkur regions.

2. Anthargange Trek

Antharagange, which means “The Ganges from the deep” in exact translation, is situated in the Kolar District of Karnataka, approximately 70 kilometres from Bangalore, and is part of the Shathashrunga mountain range. A mountain with an altitude of 1712 meters above sea level housing rocky boulders and small caverns is all prepared to be explored.

3. Ramanagara

One of the best hiking locations close to Bangalore is Ramanagara, where the renowned Hindi film “Sholay” was filmed. Known for its picturesque hike and silk market, Ramnagara is a favorite destination for both beginner and experienced trekkers.

4. Bidarakatte trek

The Bidarakatte trek, a lesser-known weekend hiking option near Bangalore, is ideal for beginners. For experienced hikers, the hike is the ideal weekend getaway from the city.

5. Nandi Hills

Situated at an altitude of 1478 meters, Nandi Hills, also known as Nandidurg, is among the most popular hiking destinations close to Bangalore. To get to the top, one has to climb 1,200 steps to Tipu Sultan’s summer palace. It’s a wonderful place with amazing views of Amrita Sarovar and the hills around it.

Karnataka’s top 10 colleges and universities shaping the future

Matrika Shukla — Wed, 24 Apr 2024 05:30:21 +0000

Karnataka, the land of ancient marvels and thriving IT hubs, has carved out a niche for itself as an educational powerhouse in India. This southern state boasts a diverse array of esteemed colleges and universities, each contributing to the region’s intellectual and academic growth. As we delve into the top 10 institutions, we’ll uncover a world of excellence, innovation, and a commitment to nurturing young minds.

Indian Institute of Science, Bengaluru

Established in 1909, the Indian Institute of Science is a premier institution renowned for its excellence in scientific research and education. IISc offers a wide range of undergraduate, postgraduate, and doctoral programs across various disciplines, including engineering, physical sciences, biological sciences, and management.

The institute’s campus, a sprawling oasis in the heart of Bengaluru, features state-of-the-art facilities, including cutting-edge laboratories, an extensive library, and modern academic infrastructure. IISc’s faculty members are distinguished scholars and researchers, contributing to groundbreaking discoveries and innovations across various fields. Notable alumni include renowned personalities like Satya Nadella, the CEO of Microsoft, and Kris Gopalakrishnan, co-founder of Infosys.

National Institute of Technology Karnataka, Surathkal

As a part of the prestigious National Institutes of Technology (NITs) network, NITK Surathkal is a premier institution for technical education in Karnataka. Established in 1960, the institute offers undergraduate, postgraduate, and doctoral programs in various engineering disciplines, including computer science, electronics, and mechanical engineering. NITK is known for its cutting-edge research facilities, industry collaborations, and globally recognized faculty.

The institute’s campus, nestled in the coastal town of Surathkal, boasts state-of-the-art laboratories, modern classrooms, and a vast library housing a wealth of technical resources. Its emphasis on practical learning and industry collaborations prepares students for successful careers in the rapidly evolving technological landscape.

Indian Institute of Management, Bangalore

Established in 1973, the Indian Institute of Management (IIM) Bangalore is a prestigious institution dedicated to providing world-class management education. The institute offers a range of postgraduate programs, including the flagship MBA, as well as doctoral programs in various areas of management studies.

IIM Bangalore’s campus, located in the heart of the city, features modern infrastructure, including well-equipped classrooms, state-of-the-art computer labs, and a vast library housing a wealth of management resources. The institute’s faculty members are renowned experts in their respective fields, with a strong focus on experiential learning and industry collaborations.

National Law School of India University, Bengaluru

Founded in 1987, the National Law School of India University is a premier institution for legal education in the country. The university offers undergraduate, postgraduate, and doctoral programs in law, with a focus on interdisciplinary and research-oriented legal education.

NLSIU’s campus, located in the heart of Bengaluru, features modern infrastructure, including well-equipped moot courtrooms, a state-of-the-art library, and research centres dedicated to various legal disciplines. The university has a strong emphasis on practical legal training and has produced numerous distinguished alumni, including eminent judges, lawyers, and legal scholars.

Visvesvaraya Technological University, Belagavi

Established in 1998, Visvesvaraya Technological University is a renowned institution dedicated to promoting technical education in Karnataka. The university offers undergraduate, postgraduate, and doctoral programs in various engineering disciplines, including computer science, electronics, and civil engineering, through its affiliated colleges across the state.

VTU’s main campus, located in Belagavi, features modern infrastructure, including well-equipped laboratories, workshops, and research centres. The university has forged strong collaborations with industries, ensuring its curriculum remains relevant and aligned with current market demands.

Manipal Academy of Higher Education, Manipal

Founded in 1953, the Manipal Academy of Higher Education is a renowned private institution known for its excellence in education and research across various disciplines. The university offers a wide range of undergraduate, postgraduate, and doctoral programs in areas such as engineering, medicine, dentistry, pharmacy, and management.

MAHE’s campus, located in the coastal town of Manipal, features state-of-the-art facilities, including well-equipped laboratories, hospitals, and research centres. The university has a strong emphasis on practical learning and has forged collaborations with renowned institutions and organizations worldwide.

Bangalore University, Bengaluru

Established in 1964, Bangalore University is one of the oldest and most prestigious universities in Karnataka. The university offers a diverse range of undergraduate, postgraduate, and doctoral programs across various disciplines, including arts, sciences, commerce, law, and engineering, through its affiliated colleges across the state.

Bangalore University’s main campus, located in the heart of the city, features modern infrastructure, including well-equipped laboratories, libraries, and research centres. The university has produced numerous distinguished alumni, including several eminent scholars, entrepreneurs, and government officials.

KLE Technological University, Hubballi

Founded in 1947, KLE Technological University is a renowned institution dedicated to promoting technical education in Karnataka. The university offers undergraduate, postgraduate, and doctoral programs in various engineering disciplines, including computer science, electronics, and mechanical engineering, through its affiliated colleges across the state.

KLE Technological University’s main campus, located in Hubballi, features modern infrastructure, including well-equipped laboratories, workshops, and research centres. The university has forged strong collaborations with industries, ensuring its curriculum remains relevant and aligned with current market demands.

Rajiv Gandhi University of Health Sciences, Bengaluru

Established in 1994, Rajiv Gandhi University of Health Sciences is a premier institution dedicated to promoting education and research in the field of healthcare. The university offers undergraduate, postgraduate, and doctoral programs in various medical disciplines, including medicine, dentistry, pharmacy, and nursing, through its affiliated colleges across the state.

RGUHS’s main campus, located in Bengaluru, features modern infrastructure, including well-equipped laboratories, hospitals, and research centres. The university has a strong emphasis on practical training and has forged collaborations with renowned healthcare institutions and organizations worldwide.

JSS Academy of Higher Education and Research, Mysuru

Founded in 2008, the JSS Academy of Higher Education and Research is a renowned private institution known for its excellence in education and research across various disciplines. The university offers a wide range of undergraduate, postgraduate, and doctoral programs in areas such as medicine, dentistry, pharmacy, and allied health sciences.

JSSAHER’s campus, located in the historic city of Mysuru, features state-of-the-art facilities, including well-equipped laboratories, hospitals, and research centres. The university has a strong emphasis on practical learning and has forged collaborations with renowned institutions and organizations worldwide.

Karnataka’s educational landscape is a tapestry woven with institutions that not only impart knowledge but also nurture innovation, foster research, and empower students to become global citizens. These top colleges and universities are shining beacons of learning, guiding the youth of the state towards a brighter future filled with opportunities and excellence.

Bengaluru’s imperative: addressing the menace of Sindhi Finance through regulatory action

Girish Linganna — Sun, 25 Feb 2024 08:25:33 +0000

In the bustling city of Bengaluru, an informal lending practice known as Sindhi Finance has taken root, offering a lifeline to some while ensnaring others in a web of high-interest debt. As explored in our previous article, the practice thrives on providing immediate liquidity to borrowers, but at a steep cost. This article delves deeper into the urgency for regulatory intervention in addressing the challenges posed by Sindhi Finance. Furthermore, it highlights the need for statutory departments to expedite their investigations into this parallel economy. Additionally, victims of this predatory lending scheme have increasingly reached out to the author, underscoring the pressing need for action.

The Need for Hastened Probing:

To effectively combat the Sindhi Finance phenomenon, it is crucial for statutory departments such as the Central Crime Branch (CCB), Enforcement Directorate (ED), and Income Tax Department to expedite their investigations. The longer the delay in probing this issue, the more businesses and individuals fall victim to its predatory practices. The authorities must understand the urgency and allocate resources to uncover the networks operating within this parallel economy. By doing so, they can dismantle the infrastructure that enables money laundering and tax evasion.

Protecting the Victims:

As awareness grows about Sindhi Finance, more victims are coming forward to share their experiences and seek assistance. These individuals and businesses find themselves trapped in a vicious cycle of debt, struggling to break free from the clutches of exorbitant interest rates. It is incumbent upon the regulatory bodies to provide relief to these victims and ensure they are not left to bear the burden alone. Establishing a support mechanism that offers financial counselling and legal aid can help victims navigate their way out of these exploitative lending arrangements.

Collaboration and Information Sharing:

The fight against Sindhi Finance requires a collaborative approach between government agencies, financial institutions, and the affected community. Authorities should actively engage with stakeholders, including local business associations, to gather insights and ascertain the full extent”In the bustling city of Bengaluru, a subset of individuals, comprising a small percentage of approximately 30,000 from the Sindhi community, are associated with the disruptive phenomenon of Sindhi Finance. It is important to clarify that Sindhi Finance is not representative of the entire Sindhi population. Concentrated in areas such as Shantinagar, Chickpet, and Kumar Park, this subset has established a parallel economy operating outside the formal financial system. The emergence of Sindhi Finance has raised significant concerns, necessitating urgent regulatory action. In this article, we delve into the disruptive impact of Sindhi Finance and emphasize the need for regulatory intervention to safeguard the economic stability of Bengaluru.” of the problem. This collaboration can aid in devising effective regulatory measures to curb the practice while safeguarding the interests of legitimate lenders and borrowers.

Enhanced Oversight and Regulation:

Bengaluru’s evolution as a hub of commerce and innovation demands a financial ecosystem that is fair, transparent, and inclusive. To achieve this, regulatory bodies must strengthen oversight and implement stringent regulations to govern informal lending practices. The establishment of licensing requirements, mandatory registration, and regular audits can help monitor the operations of lenders and deter illegal activities. Furthermore, raising awareness among the public about the risks associated with Sindhi Finance can empower individuals to make informed decisions and seek legitimate financial services.

Promoting Financial Inclusion:

While addressing the challenges posed by Sindhi Finance, it is vital to focus on promoting financial inclusion and providing accessible alternatives to underserved communities. Government initiatives and partnerships with microfinance institutions can offer affordable credit options and financial literacy programs. By extending formal banking services to the marginalized sections of society, the allure of informal lending practices can be diminished, leading to a more inclusive and regulated financial ecosystem.The proliferation of Sindhi Finance in Bengaluru’s bustling business landscape necessitates urgent regulatory intervention. The statutory departments must expedite their investigations, collaborate with stakeholders, and implement stringent regulations to curb the practice. Simultaneously, support mechanisms should be established to assist victims in breaking free from the cycle of debt. By addressing these challenges, Bengaluru can ensure a fair, transparent, and inclusive financial ecosystem that fosters economic growth while safeguarding the interests of all its residents.

Note: This is a developing story.

(The author of this article, Girish Linganna, is a Defence, Aerospace & Political Analyst based in Bengaluru.You can reach out to him at: girishlinganna@gmail.com)

(Views expressed in the article are of the author’s own and do not reflect the editorial stance of Business Upturn)

Sindhi Finance: Bengaluru’s shadow economy exposed

Girish Linganna — Fri, 23 Feb 2024 06:30:46 +0000

In the bustling heart of Bengaluru, amidst the vibrant streets of Chickpet, Shantinagar, and the bustling bazaars of KR Market, a quiet financial phenomenon is taking root, one that is both intriguing and concerning in equal measure.

Known colloquially as “Sindhi Finance,” this informal lending practice has woven itself into the fabric of the local business community, offering a lifeline to some while ensnaring others in a web of high-interest debt.

At the core of Sindhi Finance is a simple yet potent model: lenders provide loans at a significantly high interest rate, often reaching an effective annual rate of nearly 45%. For instance, for a desired loan of one lakh rupees, a borrower receives only ninety thousand upfront, while committing to repay one lakh through ten cheques of ten thousand rupees each over a ten-month period. This arrangement, while providing immediate liquidity, does so at a steep cost.

The allure of Sindhi Finance lies in its accessibility and the speed with which transactions are conducted, often in cash, bypassing the formalities and scrutiny of traditional banking. However, this convenience masks a darker side. The practice operates in the shadows of the financial system, evading taxes and regulatory oversight, thus contributing to a parallel economy estimated to be worth thousands of crores. It raises concerns of money laundering, as funds circulate outside the official channels, escaping the reach of statutory taxes.

The impact of this underground financing on Bengaluru’s business landscape is profound. Many local businesses find themselves caught in a vicious cycle of debt, struggling to break free from the clutches of exorbitant interest rates. The case of the owner of a renowned coffee chain, reportedly entangled in this very web, highlights the urgency for regulatory intervention.

Authorities such as the Central Crime Branch (CCB), Enforcement Directorate (ED), and Income Tax Department are urged to delve into the matter with the seriousness it warrants. The goal is twofold: to provide relief to businesses ensnared in this predatory lending scheme and to ensure that the government can reclaim lost revenue from this substantial, yet elusive, parallel economy.

As Bengaluru continues to evolve as a hub of commerce and innovation, it is imperative that its financial practices do so as well. Addressing the challenges posed by Sindhi Finance is not just about cracking down on illegal activities; it’s about safeguarding the economic health of the city and ensuring a fair, transparent, and inclusive financial ecosystem for all its residents.

(Views expressed in the article are of the author’s own and do not reflect the editorial stance of Business Upturn)

Swiggy goes down on technical glitch, customers face payment issues

Aditya Bhagchandani — Fri, 17 Nov 2023 14:04:53 +0000

Food delivery major Swiggy witnesses a massive technical outage across various cities today evening. Customers and users of Swiggy complained about payment failures at their end while ordering, leading to failures while completing orders.

A customer from Bangalore took to X asking if the app was facing issues in Bangalore. Swiggy’s customer service page (SwiggyCares) on X replied that they are experiencing a technical downtime due to which the payment failed.

“We regret to inform you that we’re experiencing a technical downtime due to which the payment failed. Not to fret, we’re working on fixing this and should be up and running soon,” said Swiggy in a response to the user on X.

Hey Kanika, we regret to inform you that we’re experiencing a technical downtime due to which the payment failed. Not to fret, we’re working on fixing this and should be up and running soon.
^Ashwin

— Swiggy Cares (@SwiggyCares) November 17, 2023

Rising Rents of Bangalore are inviting comparisons with Mumbai

Sidharth Badlani — Sun, 06 Aug 2023 14:40:49 +0000

Dibyangana Paul has been hunting for a one-room, one-kitchen flat in Bengaluru for about a month now, but in vain.

She has no idea that rents for 1-bedroom apartments in her neighbourhood have reached $24,000 per month with a $25,000 security deposit.

Local broker Realty Corps director Sunil Singh stated, “This week, we started brokering a listing of a 1,700 sq ft carpet area posh flat in Indiranagar for Rs 2 lakh per month.”

Paul, a paying guest (PG) who pays a fee of Rs 7000 for one room, said: “The 1RK apartments come at Rs 13,000-15,000 while 2BHKs (two bedroom-hall-kitchens) are coming at more than Rs 30,000.”

The monthly asking rent for a 1BHK flat in the Nikoo Homes project in eastern Bengaluru has surpassed Rs 1.2 lakh. A 2,000 sq ft 1BHK costs roughly Rs 3 lakh in the north, close to Embassy One.With an average rent of Rs 90,000–2 lakh, certain areas of Bengaluru are now almost as expensive as the most prestigious areas of Mumbai, including Worli, Bandra, Juhu, and Versova. According to Mumbai real estate agent Ravi Kewalramani of RK Realtors, Malabar Hill demands the highest price of Rs 3.5 lakh.

However, Bengaluru’s real estate is still in its infancy compared to an established real estate market like Mumbai, one of the most costly property markets in India.

By April 2024, Foxconn will begin producing iPhones in Bengaluru

Avinash Ram — Thu, 01 Jun 2023 16:29:44 +0000

Only a few weeks have passed since the new Congress-led administration in Karnataka entered office before the announcement.

According to the Minister for Large and Medium Industries, MB Patil, Taiwanese electronics company Foxconn, a significant Apple supplier, would begin producing iPhones in Bengaluru by April 2024. The state government would hand over the necessary land for the firm by July 1 to assist this, the minister said, according to India Today. The company wants to begin producing iPhones at its projected Devanahalli facility.

“The identified 300 acres of land at ITIR of Devanahalli would be handed over by July 1,” Patil said, adding that in addition, the government would guarantee providing 5 MLD of water, high-quality power, road connection, and other infrastructure amenities.

The declaration was made only a few weeks after the Congress-led new administration in Karnataka assumed power. An estimated 50,000 employment would be generated by the Rs 13,600 crore project. Foxconn has reportedly been requested to submit specifics on the skill sets it needs in potential recruits, according to the ministry. He said that as a result, steps will be taken to make training courses available to qualified people in order to help them become employable.

Foxconn has already paid the Karnataka Industrial Areas Development Board Rs 90 crore, or 30% of the cost of the land. The world’s largest electronics company has set the objective to finish the project in three phases and has set a target of 20 million (2 crore) units of production per year from the facility after the completion of three phases.

Following their meeting as part of the courtesy visit, the company’s representatives lead by George Chu informed the minister of their decision. Priyanka Kharge, Karnataka’s minister of information and technology, was also there.

Foxconn said this month that it has purchased a sizable plot of property in Bengaluru, a major centre for technology. The business is the largest producer of contract electronics in the world and a key supplier of Apple iPhone assembly. The business said in a statement to the London Stock Exchange that it had bought 1.2 million square metres (13 million square feet) of property in Devanahalli, close to the airport serving Bengaluru.

A new facility where Apple will “soon” produce iPhones would “about 100,000 jobs,” according to the former chief minister of Karnataka, Basavaraj Bommai, who made the announcement in March.

According to Reuters, Apple has been moving manufacturing away from China as a result of the nation’s stringent COVID-related limitations that have hampered the country’s ability to produce new iPhones and other electronic gadgets. In addition, the IT giant wants to prevent a blow to its company from escalating tensions between Beijing and Washington.

In India, Apple debuted its first retail locations in April of this year. Two outlets were opened by the iPhone manufacturer—one each in Delhi and Mumbai.

As the country’s smartphone exports rose to more than $11 billion, Union Minister Ashwini Vaishnaw recently stated that India was on its path to become a worldwide leader in the mobile devices category. Nearly $11.12 billion worth of mobile phones were exported from India, with Apple, the manufacturer of the iPhone, being responsible for around half of the shipments.

“With smartphone exports more than tripling to more than $11 billion, India is well on its way to overtaking the United States as the global leader in the market for mobile devices and contributing significantly to the country’s electronic exports. Vaishnaw was reported by the news agency PTI as stating, “This is a significant victory for PM Modiji’s ‘Make in India’ campaign.

Class 12 scores impacting apartment rental prospects in Bengaluru?

Aditya Bhagchandani — Sat, 29 Apr 2023 06:43:11 +0000

Class 12th scores are no longer just important for future prospects, but can also impact one’s ability to secure an apartment in Bengaluru. A potential tenant was initially accepted by a landlord, but later rejected due to his Class 12 exam marks.

Although it may seem unlikely, a social media user recently shared screenshots of a conversation with their broker regarding a rental property.

The broker initially informed the user that their application had been approved by the landlord, but then requested additional documentation such as the tenant’s LinkedIn/Twitter profile, a company joining certificate, and Class 10 and 12 mark sheets, as well as government-issued identification like Aadhaar and PAN card. Additionally, the landlord requested a 150-200 word write-up about the tenant.

The tenant provided all the requested information to the broker, but was informed that the landlord rejected his application due to only securing 75% marks in Class 12 instead of the 90% that was expected. The tenant’s name was not revealed, but a social media user shared the conversation screenshots on social media.

"Marks don't decide your future, but it definitely decides whether you get a flat in banglore or not" pic.twitter.com/L0a9Sjms6d

— Shubh (@kadaipaneeeer) April 27, 2023

Cafes in Bangalore where your budget stays intact!

Dhanya Ranjan — Tue, 26 Jul 2022 03:03:16 +0000

Bangalore is without a doubt one of the coolest venues in the nation that gives a distinctive experience. In the vibrant city of Bangalore, where there are so many options for dining, the food cravings are justified by the ultra-delicious dishes served here. However, because it is an expensive city, some of us find it difficult to spend a lot of money just on food. But we got you covered! Here is a list of some cafes where you may unwind without worrying about spending too much money.

Truffles

One of the best places in Bangalore to dine, this place serves some of the best burgers. Though there are long queues but faster services, this is a budget-friendly place to celebrate with or treat your loved ones.

Empire

A restaurant chain in Bangalore, Empire is known for its low-cost food. This budget-friendly place remains open till 3 AM in the morning.

Khawa Karpo

The place is small but serves the best Chinese and Tibetan food. The food can cost around 350 for two people.

Taaza Thindi

This place is crowded at all times because the South Indian food served here is mouth-watering! The option for the dishes is really minimal but definitely worth a try.

Karnataka govt suggests IT firms to extend work from home till December 2021

Shivya Kumar — Wed, 25 Aug 2021 08:29:19 +0000

The Karnataka government on Tuesday encouraged IT organizations to expand the work from home choice for representatives to December 2022 taking an account of the gridlock on Outer Ring Road because of the Bengaluru metro development work.

In its letter to the National Association of Software and Service Companies (NASSCOM), the Department of Electronics, Information Technology said, “BMRCL is starting metro construction works on Outer Ring Road (ORR) from Central Silk Board to KR Puram and the construction of the same could extend to about 1.5 to 2 years. The ORR houses many large Tech Parks and IT Company campuses and carries a large amount of traffic throughout the day. The ORR despite having six lanes and service roads is infamous for its perennial traffic congestion.”

The Karnataka government underscored that in the COVID pandemic circumstance, with IT organizations telecommuting (WFH) gave some alleviation to traffic development on ORR. Be that as it may, with the beginning of metro development on ORR, it would be amazingly hard to oversee traffic development on ORR, particularly if the IT organizations continue work from the workplace.

“In addition to these measures to promote mass transit and cycling as an alternate option to commute on ORR, it would be greatly beneficial if the IT companies especially located in ORR, would extend the work from home option for most of the employees till December 2022, and/or the IT parks/companies may be advised to stagger the working hours for those employees working physically at the office. The IT workforce, who need to physically attend office, are encouraged to take buses (BM’l’C/Company) as these buses travel on BUS lanes,” the state government said.

“We request you to circulate this advisory to IT companies located on ORR so that infrastructure development activities are carried out smoothly, which would also ease out traffic congestion in future,” it urged.

The state government said it has taken a few measures by executing Bus Priority Lanes (BPL) and safe cycle paths to give substitute alternatives to the versatility of individuals working or going through ORR.

Tesla remains silent on Yediyurappa announcing its entry into India

Devanshu Singla — Tue, 16 Feb 2021 06:06:09 +0000

Days after Karnataka CM BS Yediyurappa issued a statement confirming that Tesla will indeed set up a manufacturing plant in Karnataka, there is still confusion over California-based Tesla and its founder, Elon Musk’s plans.

Ever since Tesla registered a subsidiary in Bengaluru earlier in January, speculation has been rife over the plans of the iconic electric vehicle maker to enter the Indian automobile sector. The company has remained silent about its plans.

The intent of the statement by the CM, was to show global investor interest in India, the people aware of the matter said.

“Our officials are in constant touch with Tesla and there is still no agreement on their plans even though we have offered all available options and assistance,” Jagadish Shettar, Karnataka’s minister for large and medium industries told Hindustan times.

Tesla did not respond to an email seeking comment.

The state industries department is engaging with the company that is reported to be in talks with at least three other states in the country.

Musk, founder and chief executive officer of the Cupertino-based Tesla, said on Twitter last year that the company plans to enter India “for sure” in 2021. Tesla India has named Vaibhav Taneja, Venkatrangam Sreeram and David Jon Feinstein as the three directors of its Indian subsidiary. Taneja is Tesla’s chief accounting officer; Feinstein is global senior director of trade market access at the company; and Sreeram is an entrepreneur and former Tesla employee who was part of the company’s launch team in China.

Source: hindustantimes.com

Bengaluru ranks world’s fastest-growing mature tech ecosystem, Mumbai positions sixth

Devanshu Singla — Thu, 14 Jan 2021 06:29:42 +0000

According to new research released in London, on Thursday, Bengaluru has emerged as the world’s fastest-growing mature tech ecosystem in the world since 2016, followed by the European cities of London, Munich, Berlin and Paris, with India’s financial centre of Mumbai in sixth place.

Dealroom.co data analysed by London & Partners – the Mayor of London’s international trade and investment agency – reveals that investment in Bengaluru grew 5.4 times from $1.3 billion in 2016 to $7.2 billion in 2020, with the Mumbai growing 1.7 times from $0.7 billion to $1.2 billion in the same period.

The UK capital of London registered an impressive three times growth between 2016 and 2020, rising from $3.5 billion to $10.5 billion.

“London has a strong trade and investment relationship with cities across India and today’s figures show the opportunities for future partnerships between the UK and India on technology. Despite the pandemic, tech companies in London and India are continuing to lead the way in creating game-changing technologies – especially in high growth sectors such as EdTech and Fintech,” said Hemin Bharucha, Chief Representative of India at London & Partners.

Bengaluru is also ranked sixth for the world’s tech venture capitalist (VC) investments, on a global list topped by Beijing and San Francisco, New York, Shanghai and London making up the top five. Mumbai comes in at No. 21 in the worldwide ranking, with Boston and Singapore among the other high-ranking cities.

Skillmine, a Bengaluru-headquartered tech company offering new generation IT consulting and managed services which expanded to London last year, highlighted access to “like-minded tech entrepreneurs alongside a deep tech talent pool” as the highlight of what has been referred to as India’s Silicon Valley in the past.

JMC Projects bags projects worth 698 crore in South India

Devanshu Singla — Wed, 30 Dec 2020 07:24:48 +0000

On Wednesday, Engineering firm JMC Projects said it has bagged orders worth Rs 698 crore in the domestic market. In a filing to the BSE, the company said it has won orders for building projects in South India worth Rs 698 crore.

The company’s CEO and Deputy Managing Director S K Tripathi said, “Our order inflows for the current year has crossed Rs 6,700 crore. We remain confident to achieve our targeted numbers for the financial year 2020-21.”

JMC Projects (India) Limited is owned by Kalpataru Power Transmission Ltd.

“Vardhan Dharkar, Director (Finance) and Chief Financial Officer of the company has tendered his resignation due to personal reasons,” said JMC Projects in a separate filing.

Shares of JMC Projects (India) Ltd were trading 2.33 per cent higher at Rs 68.00 each on BSE.

Bangalore: Communal violence breaks out over social media post, Vehicles set on fire

Ruchit Purohit — Tue, 11 Aug 2020 21:09:43 +0000

Violence in Pulakeshinagar broke out after an angry mob, who were disturbed over over a social media post by a relative of MLA Akhanda Srinivasa Murthy on Tuesday night.

The angry mob gathered outside the MLA’s house and burnt down the vehicles parked outside his house in Kaval Byrasandra. The post is said to have triggered communal violence in East Bengaluru.

Earlier, A group of people visited the police station to file a complaint against the MLA’s relative for the post he made on social media. However, the police asked them to talk and sort it out.

The mob then angrily gathered outside the DJ halli police station protesting against the same. There were around 600 people present there as mentioned by (Bangalore Mirror) and they set up some police vehicles on fire at the spot.

The fire officials couldn’t break in at the spot when called as huge number of protesters blocked their way and hence failed to control the fire at the spot. (Bangalore Mirror)

At 1:18 am IST – All DCPs and senior police officers have arrived at the spot along with the city police commissioner, Kamal Pant.
The situation has been brought under control and the mob has dispersed. (Tweet by Bangalore mirror).