City Ahmedabad Financial News

Amit Shah on Friday asked the management of the Ahmedabad District Co-operative (ADC) Bank to take up the responsibility of providing health, nutrition and education-related services in the district. Shah, who has served as the chairman of the bank in the past, asked officials to prepare a detailed project on these aspects and try to implement it on the ground with the help of other cooperative entities. The Union minister was addressing people associated with the bank and other cooperative entities at Mahatma Mandir Convention Centre in Gandhinagar in a programme to mark the institution's centenary. "ADC Bank should take up the responsibility of providing health, nutrition and education-related services in Ahmedabad district with the help of other cooperative entities and free the Central and state governments from the responsibility," he said.

Paradox Museum, an Athens-based interactive entertainment company, plans to invest €5 to 10 million in opening experiential centres in four to five locations across India over the next four to five years, according to a top company executive. Satish Yadav, managing director of Paradox Museum India, said each location will require an investment of €1 to 2 million. The museum offers an immersive experience through optical illusions, featuring 55 paradox-themed exhibits and 15 immersive rooms.

inventory overhang (the estimated time required to sell off unsold stock based on sales velocity) has dropped to 22 months in the June quarter, down from 34 months in the corresponding quarter last year. According to PropTiger.com report, NCR's Gurugram witnessed a substantial decline in inventory overhang from 72 months in Q2 2023 to 31 months in Q2 2024. Ahmedabad also showed strong performance, reducing its inventory overhang from 33 months to 18 months during the same period, reflecting the healthy demand dynamics in these markets. Regarding unsold inventory, the report said that despite a moderation in supply and absorption rates, India’s residential real estate market displayed resilience, achieving a 2% year-on-year decline, bringing the total to over 9.26 lakh units as of June 30.

Freshworks and Zoho «mafia» that led to several employees of these companies branching out to start their own firms — some of which have become extremely successful. Chennai's success in SaaS is known but there's a silent movement happening across the smaller cities across the country that can be dubbed the early makings of a 'tier II mafia,' industry watchers said. SaaS startups like Responsive in Coimbatore, Supersourcing in Indore, Appointy in Bhopal, DreamCast in Jaipur, Dhiwise in Surat or CallHippo in Ahmedabad — these are all examples of companies that are slowly scaling and becoming the anchor companies in these regions. «There are SaaS startups that are maturing and reaching a certain scale and size in a number of emerging cities,» Avinash Raghava, CEO of the industry collective SaaSBoomi told ET. «This is happening across the board where there are anchor companies emerging that are having their employees leave to start their own SaaS firms. It is still in the nascent stage but we are seeing it happen increasingly now wherein I believe the next Freshworks or Zoho will not come from Chennai or Bangalore but will be from one of these emerging cities.”

QS Global MBA Rankings 2025, an annual suite of rankings identifying the world's top study destinations for aspiring business leaders. IIM Bangalore (ranked 53rd) is on top of the India list, followed by IIM Ahmedabad (=60), IIM Calcutta (65th) and the Indian School of Business (=86) respectively. While IIM Bangalore has slipped from last year’s 48th spot, India has steadily been increasing its representation in the rankings by higher education analyst Quacquarelli Symond to 14 this year compared to 11 last year and nine the year before. Beyond those in the top 100, the rankings include IIM Kozhikode (151-200), IIM Indore, IIM Lucknow, IIM Udaipur, XLRI- Xavier School of Management, all in the 201-250 band; IMT Ghaziabad, IMI Delhi, IMI Kolkata, MDI Gurgaon and Somaiya Vidyavihar University in the 251+ bracket.

Adani Airport Holdings Ltd (AAHL) said on Sunday that passengers across some airports in the country are facing disruptions in lounge access due to DreamFolks Services Ltd suspending its services. DreamFolks, the lounge access provider, acknowledged the disruption but said it is not related to any contractual issues and that they are working to resolve the problem quickly. AAHL, which runs seven airports in India—Mumbai, Ahmedabad, Lucknow, Jaipur, Guwahati, Thiruvananthapuram, and Mangaluru—said the problem is affecting services at four of these airports.

NDA and opposition members, three Muslim organisations, including an RSS-linked outfit, on Friday supported the proposed amendments to the Waqf law before a parliamentary panel, sources said. When the three Muslim organisations — All India Sufi Sajjadanashin Council, RSS-linked Muslim Rashtriya Manch and NGO Bharat First — made their presentations separately before the Joint Committee on Waqf (Amendment) Bill, some opposition members sought to find flaws in their claims. Shiv Sena member in the Committee Naresh Mhaske is learnt to have told opposition members that they should be open to listening to the point of view of the other side, a suggestion that led to a brief exchange of words between the NDA and opposition. Some opposition members also wondered whether the Sufi Shah Malang sect comprising fakirs, who appeared before the Committee, formed part of the Muslim community.

High Net Worth Individuals (HNWI), Chief Executive Officers (CEO), businessmen and Overseas Citizens of India (OCI) are part of India's first Fast Track Immigration-Trusted Traveller Programme (FTI-TTP). As many as 18,400 individuals, frequent global travellers and OCI card holders have been registered in the programme online for availing the service, said a senior home ministry official. Besides Delhi's IGI Airport, the services in the first phase will be made operational at major airports including Mumbai, Chennai, Kolkata, Bengaluru, Hyderabad, Cochin, Ahmedabad. According to officials, 60% faster immigration clearance to 1,500 passengers have been granted through e-Gates so far. The facility will be expanded to 21 airports. When asked about the personal data of those enrolled for the programme, a senior official said, «the personal data is safe and secure and details are not to be shared.» As per the programme, «Eligible individuals can apply online for the fast-track immigration facility. Those with approved applications are called to submit their biometrics (fingerprint and facial image) at the international airports in India or the Foreigners Regional Registration Offices (FRRO).»

Modi on Monday alleged certain individuals filled with hate and negativity are defaming the country, a remark coming amid a political row over certain statements made by Congress leader Rahul Gandhi abroad. Modi laid the foundation stone and inaugurated various projects of Rs 8,000 crore, including the flagging off of Bhuj-Ahmedabad Namo Bharat Rapid Rail, the first Vande Bharat metro service, and five Vande Bharat express trains, in Ahmedabad. Addressing a gathering, Modi, without taking names, said they (Opposition) can cross any limits for appeasement politics.

Vande Metro, now renamed as Namo Bharat Rapid Rail service, between Bhuj and Ahmedabad. According to Western Railway officials, the Ahmedabad-Bhuj Vande Metro service will stop at nine stations and cover the 360-kilometre distance in 5 hours and 45 minutes at a top speed of 110 kilometres per hour. It will depart from Bhuj at 5:05 am and reach Ahmedabad Junction at 10:50 am, the officials had said. For passengers, its regular service will start from September 17 from Ahmedabad and the total journey will cost Rs 455.

Prime Minister Narendra Modi on Monday is all set to launch India's first 'Vande Metro' services between Bhuj and Ahmedabad. Ahead of the launch, the Railways Ministry has decided to rename the service to 'Namo Bharat Rapid Rail.' Additionally, Modi will launch the second phase of the metro rail service connecting Ahmedabad and Gandhinagar and take a ride on the metro train. For passengers, its regular service will start from September 17 from Ahmedabad and the total journey will cost Rs 455.

Malaysia Airlines is keen to expand its operations into India, which is a «very important market», according to a top airline official. The airline, which currently flies to nine Indian cities, is eyeing new destinations as well as looking to increase frequencies to Trivandrum and Ahmedabad. Part of the Malaysia Aviation Group (MAG), Malaysia Airlines operates daily flights to Delhi, Mumbai, Bengaluru, Amritsar, Chennai, Hyderabad and Kochi. It also has four weekly services from Ahmedabad and Trivandrum.

Narendra Modi will flag off the country's first 'Vande Metro' service on Monday during his two-day visit to Gujarat, an official said. The Ahmedabad-Bhuj Vande Metro is a fully unreserved air-conditioned train for which passengers can buy tickets from the counter shortly before its departure, Western Railway (Ahmedabad division) public relations officer Pradeep Sharma said on Saturday. «It will accommodate 2,058 standing and 1,150 sitting passengers. WR carried out a trial of the service early this week,» he added. According to WR officials, the Ahmedabad-Bhuj Vande Metro service will stop at nine stations and cover the 360 kilometre distance in 5 hours and 45 minutes at a top speed of 110 kilometres per hour. It will depart from Bhuj at 5:05am and reach Ahmedabad Junction at 10:50am, they said.

Burma Burma plans to go public with an IPO in the next three years, co-founders Chirag Chhajer and Ankit Gupta told ET. The company is also aiming to triple its footprint before going public, they said. Last month Burma Burma (Hunger Pangs Pvt Ltd) raised $2 million in equity investment and is looking to raise another $3 million. The round is expected to see participation from existing investors Negen Capital and family offices.

skills important, or is enthusiasm alone enough in today's world? A debate over this is raging on LinkedIn after an IIM, IIT alumnus in a post said that enthusiasm, or «enthu,» plays a crucial role in staying relevant in today's rapidly changing professional landscape. Ankur Garg, a Principal at Boston Consulting Group and an alumnus of IIM Ahmedabad, questioned whether enthusiasm alone could be a decisive factor for career success, given the importance typically placed on skills.

Dil-Luminati Tour (India) were sold out within minutes of release. The pre-sale opened at noon on September 10, offering early access to HDFC Pixel Credit Card holders, who enjoyed a 10 per cent discount on ticket prices. The 10-day tour is set to kick off on October 26 in Delhi and will visit 10 cities across India, including Hyderabad, Ahmedabad, and Bangalore.

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Odisha is celebrating Ganesh Puja for the 18th year by preparing a 15-foot tall Ganesh idol using 25,000 glass bangles, and the pandal has been made of bamboo in Baripada. Friends Union Organisation President Saumya Ranjan Mishra told ANI, «We are celebrating Ganesh Puja for 5 days according to the tradition of Maharashtra. The festival lasts for 8 days with tribal traditional songs, dances, a national-level dance competition, and much more. Prasad distribution takes place for 5 days. Some artists come from West Bengal and other states. Very unique 15-foot Ganesh idol made by 25000 (twenty-five thousand) glass bangles. This is the main attraction of our Ganesh festival, for which devotees come from different states.» Cashier of the organisation Srikant Barik said, «This time we are celebrating 18th year. We have spent more than 22 to 25 lakhs all together for this decoration and making unique idols.»

Navya shared pictures from the IIM Ahmedabad campus, including shots of herself in a smart black suit and a celebratory cake-cutting moment with friends.