City Ahmedabad Financial News

Let's start with your personal story I attended St. Columba's School in Delhi, with deep roots in the capital city. Spouse holds a degree from IIM Ahmedabad and operates as an independent educational consultant. Proud parent of a final-year student at Yale University and a daughter currently attending class 11 at Cathedral School. Native to Delhi, fostering a profound understanding of the city's dynamics and culture. How did you land up in this job? I was recruited by S Naren at ICICI Prudential Mutual Fund in April 2016 to lead the Investment Research division. Progressively assumed responsibility as a Senior Fund Manager, overseeing select key strategies. Presently serving as Deputy CIO Equity, where my comprehensive macroeconomic perspective steers the investment approach of the fund management team.

₹300 crore as first close of its alternative investment fund (AIF), Inliv Real Estate, said founder Mohit Malhotra, formerly the managing director and chief executive of Godrej Properties, on Thursday. The maiden fundraise of NeoLiv, registered as category II AIF, attracted interest from ultra-high net worth investors and family offices across India, with roadshows conducted in major cities including Mumbai, Delhi-NCR, Kolkata, Ahmedabad, Lucknow, Kanpur, Bhavnagar, Udaipur, and Bangalore.

real estate demand across the country. Capital flows hit a record $1.3 billion, compared to $600 million in 2022, according to real estate consultancy CBRE. While average annual inflow from 2019 to 2022 stood at $500 million, more than 85% of transactions in these cities were focused on development sites and the logistics sector. According to CBRE, several cities such as Ahmedabad, Indore, Jaipur, and Coimbatore are also seeing robust private equity (PE) interest across sectors such as e-commerce, startups, banking, financial services and insurance (BFSI) — all of which can have a complementing impact on real estate investments.

Bharatiya Janata Party (BJP) on Wednesday announced names of seven more candidates in Gujarat, which has 26 Lok Sabha seats, dropping five sitting MPs, including junior Railway minister Darshana Jardosh, and replacing them with new faces. On March 2, the BJP, in its first list of 195 candidates, had announced nominees for 15 Lok Sabha seats in Gujarat, where the saffron outfit had swept the polls in 2019. After the release of second list of 72 candidates in New Delhi, contestants for only four seats in the BJP-ruled state remain to be declared by the saffron party.

Track prices here However, they have declined by Rs 879 or 1.3% from their all-time high of Rs 66,356 on fears that the interest rate could remain elevated for longer amid higher-than-expected consumer inflation numbers in the US.

₹1,200 crore Gandhi Ashram Memorial masterplan at Sabarmati in Ahmedabad, Gujarat. During the event, he also opened the redeveloped Kochrab Ashram. Addressing the gathering, PM Modi highlighted the significance of cherishing the country's heritage.

in-plant railway siding project (of Maruti Suzuki) was inaugurated by PM Modi in Gujarat on March 12. The project is at Hansalpur in Gujarat's Mehsana district. Modi inaugurated it virtually from a function in Ahmedabad. Modi also inaugurated and laid the foundation stone of Rs 85,000 crore railway projects, including the launch of 10 new Vande Bharat trains, from Sabarmati area of Ahmedabad. He also visited the Dedicated Freight Corridor's (DFC) Operation Control Centre. The project is under PM Gati Shakti mission, in collaboration with the Gujarat government, Indian Railways, and MSIL. The cost of the project is Rs 976 crore. This is the first time in India that an automobile company has established an in-plant railway siding, Rahul Bharti, MSIL's Executive Officer for Corporate Affairs, said.

Jharkhand on Tuesday got another Vande Bharat Express train, which will be operated between state capital Ranchi and Varanasi in Uttar Pradesh. The train was flagged off by Prime Minister Narendra Modi virtually from Ahmedabad along with the unveiling of several other railway projects in the state and across the country. The PM also flagged off the Hatia-Asansol Express and inaugurated the Ranchi-Bondamunda railway line. Stalls under the 'One Station One Product' scheme at Ranchi, Hatia, Govindpur Road, Itki, Muri, Piska, Silli, Tangarbasuli, Tatisilwai stations, Barkakana, Ranchi Road and Pradhan Khanta stations were also inaugurated by the PM.

Indian Railways is all set to introduce a second Vande Bharat Express train on Ahmedabad-Mumbai route. The new semi high-speed train will commence its operations from Tuesday (March 12) onwards and Prime Minister Narendra Modi is scheduled to flag it off. 

Ramadan 2024 in India: The crescent moon of Ramadan 2024 is expected to be sighted in India on Monday, March 1, which means the fasting for the holy month will begin on Tuesday, March 12. The timetable informing Ramadan 2024 fasting, Sehri, and Iftar timings comes in handy as it helps in the observance of prayers to the almighty. The Ramadan 2024 moon was sighted in Saudi Arabia on Sunday, March 10, and usually the crescent moon is sighted in Asian countries including India, a day after Saudi Arabia and the UAE.

NEW DELHI : The Adani group will bid for the Airports Authority of India’s (AAI’s) stake in only Mumbai airport, and is not a suitor for the state-owned airport operator’s residual share in airports in Delhi, Bengaluru and Hyderabad, Karan Adani, managing director of Adani Ports and Special Economic Zone (APSEZ) said. He added that the group will bid for airports that the government plans to put for auctions. “We will bid for (AAI) airports...

Narendra Modi will inaugurate 10 new Vande Bharat trains across various routes in the country, pushing the total number of operational trains past the half-century mark. These new additions come a little over two months since the last batch of trains were launched. 10 New Vande Bharat's Routes The 10 new trains cover a range of routes, including 1. Lucknow-Dehradun 2. Patna-Lucknow

₹60,000 crore to expand the seven existing airports in its portfolio over the next 5-10 years, Karan Adani, MD of Adani Ports and Special Economic Zone Ltd, said. About half of the investment would be pumped into terminal and runway capacity over five years, and the rest would be invested in city-side development of the airports over a period of 10 years, Adani said on the sidelines of an event. These investments will be in addition to the ₹18,000 crore that the group plans to invest in Navi Mumbai airport.

financial assistance to students from Classes 9 to 12, for which the government has allocated Rs 1,650 crore in the state budget. Under its "Namo Lakshmi Yogana", the government will provide Rs 50,000 to girls studying in Classes 9 to 12 over four years, while Rs 25,000 will be given to both girls and boys who have opted for the science stream in Classes 11 and 12 under the "Namo Saraswati Vigyan Sadhana Yojana", a release stated. «These two significant schemes have been initiated this year to fulfil Prime Minister Narendra Modi's commitment to girls' education, encouraging girls to pursue secondary and higher secondary education and to promote science education,» the state government said in a statement. The chief minister launched the schemes from Gyanda High School in Ahmedabad, with around 35,000 students of primary and secondary schools and educators from across the state participating virtually in the online programme.

Kulbhushan Parashar, Founder and Managing Director at Corporate Capital Venture. In an interview with ETMarkets, Parashar said: “We normally try to make our public offering so that there is sufficient appreciation post listing and investors get a fair deal on their investment,” Edited excerpts:

The bankruptcy court in Ahmedabad has rejected Gujarat-based Express Group of Hotels’ revival plan for Neesa Leisure Ltd, which operates a luxury hotel chain under the brand Cambay. The company has admitted liabilities of Rs 1,580 crore, whereas the resolution plan approved by the lenders proposed to give Rs 150 crore to them to acquire the company through the bankruptcy process. The successful resolution applicant had proposed Rs 250 crore towards capex and fresh funds, bringing the total value of the plan to Rs 400 crore.

Elara Capital India has appointed Manoj Kohli, former country head of Softbank India, as non-executive chairman of its board, said a company statement on Thursday. “Elara Capital will extensively benefit from Manoj’s extensive business and leadership skills to help strengthen our business focus. His guidance will be invaluable to us to further strengthen our client offerings and achieve our growth plans,” said Raj Bhatt, chairman, Elara Capital.

Adani Enterprises announced that its Dubai-based arm, Ospree International FZCO, has successfully acquired 100% stake in France-based Le Marche Duty Free SAS (LMDF) for a sum of 5,000 euros. This strategic move aims to bolster the company's presence and growth within the duty-free industry. Adani Enterprises emphasized the significance of this acquisition in a filing to the exchange, highlighting its alignment with the expansion goals of Mumbai Travel Retail Private Limited.

Mint analysed class profiles from batches 2017-19 to 2022-24 for two-year postgraduate programmes at some of the top B-schools. In the case of Indian School of Business (ISB), we considered its one-year management programme. The analysis showed that IIM-Ahmedabad has persistently struggled with low gender diversity among students, reaching a low of 28 females for every 100 males in the 2020-22 batch.

NEW DELHI : India’s space regulatory body has opened its first technical centre that it said would aid startups and larger private companies design and plan space missions. The Indian National Space Promotion and Authorization Centre’s (In-Space) facility in Ahmedabad will offer shared infrastructure including for climate simulation, thermal and vacuum environment simulation, and space systems assembly and testing environment.

195 candidates released last weekend was Rajeev Chandrasekhar, who has been fielded from Thiruvananthapuram, a seat in Kerala considered Congress leader Shashi Tharoor’s stronghold. While Congress has yet to announce its candidate from the constituency, if they choose to field Tharoor again, it will be one of the high-profile contests in the upcoming Lok Sabha elections 2024. Fielding Chandrasekhar is part of BJP’s aim to make inroads in Kerala, where it had failed to win any seats in the 2019 Lok Sabha elections.