City Ahmedabad Financial News

₹60 to ₹65 per equity share of face value of ₹10 each. Chavda Infra IPO lot size is 2,000 equity shares and in multiples of 2,000 equity shares thereafter. Chavda Infra IPO, which is worth ₹43.26 crore, is completely a fresh issue of 6,656,000 equity share; there is no offer for sale (OFS) component.

A post shared by Hitesh Sanghvi (@hitesh412740) “Golf with @mahi7781, @realdonaldtrump and @rajiv.knack.......thank you mr president for hosting us," Hitesh captioned the photograph. MS Dhoni can be seen with his trademark long hair. Whereas, Donald Trump was wearing his familiar MAGA cap.

The MCX October gold futures were trading up by Rs 127 or 0.22% from the Thursday closing price at Rs 59,125 per 10 gram on the MCX while the December Silver futures were trading at Rs 72,038 per kg, higher by Rs 268 or 0.37%. On Comex, Gold futures were trading at $1,950.70 per troy ounce on Friday, up by $8.20 or 0.42% while Silver futures were at $23.390, higher by $0.150 or 0.650%. The October Gold futures had ended with losses of Rs 107 or 0.18% per 10 gram at Rs 58,981 on Thursday while the December Silver futures closed lower at Rs 71,800, down by Rs 672 per kg or 0.93%. «Correction in gold prices this week was on account of strength in the US economy which makes it likely that interest rates will stay high,» Neha Qureshi, Senior Technical & Derivative Analyst, Anand Rathi Commodities & Currencies opines. On Technical charts, October Gold futures witnessed the RSI indicator hitting a point where it might start going down, she said. «Right now, gold prices are above two important lines called the 50-day and 100-day EMA, which are like support levels. If they're crossed, it could mean the market is turning bearish.

Phoenix Mills Ltd is poised to benefit from a combination of favourable factors. Subsiding monsoon, long weekends and upcoming festival season are seen as near-term drivers for urban consumption at malls. This should aid healthy ramp up at the company’s Citadel Indore and Palladium Ahmedabad malls, which were opened in FY23.

International Cricket Council (ICC) or the Asian Cricket Council (ACC). The last time an Indian team set foot on Pakistani soil was in 2008 for the Asia Cup, whereas Pakistan last toured India in 2012 for a white-ball series.

Lulu Group plans to expand the reach of hypermarkets to smaller towns of Kerala and Uttar Pradesh besides proposed significant mall developments in Ahmedabad and Greater Noida, said a senior executive. The company is considering cities like Prayagraj, Gorakhpur, Kanpur, and Banaras for small-scale malls with a hypermarket focus. Additionally, the company is in the process of building five similar properties in Kerala. «We have successfully secured partnerships with the government for Banaras, Prayagraj, Gorakhpur, and Noida. The food park in Noida is in its final stages,» said Jayakumar Gangadharan, regional director of Lulu Lucknow.

₹1,000 crore and an Offer For Sale (OFS) of 90 lakh equity shares by existing shareholders. ALSO READ: Rishabh Instruments IPO: Latest GMP, how to check allotment status online The OFS consists of the sale of 42.36 lakh equity shares by Blue Chandra Pte Ltd, up to 24.78 lakh equity shares by Goldman Sachs Investments Holdings (Asia) Ltd, up to 15.47 lakh equity shares by GTI Capital Alpha Pvt Ltd, and up to 7.39 lakh equity shares by International Finance Corporation. It is a partial exit by the existing shareholders to meet the listing regulations.

Ahmedabad Municipal Corporation (AMC) is planning on two crucial projects in the city, which will lead to the permanent closure of a 750-meter stretch of Ashram Road, from Cargo Motors to the RTO, beginning this December. In response to the impending closure of Ashram Road, an 18-meter-wide road is being created adjacent to Cargo Motors. This new route will be seamlessly linked to a proposed 24-meter-wide road via the Prabodh Raval bridge, eventually connecting it to the 132ft Ring Road. Furthermore, the road on the west bank of the Sabarmati riverfront will directly connect to a 24-meter road through Ramapir Tekra, providing direct access to the main Ranip GSRTC bus stand.

₹56 lakh in the secondary market. While social media users have been making such claims for some time now, when we checked it ourselves, we found some of the tickets being sold on Viagogo for a whopping ₹57,62,676. There are many other tickets available in the range between ₹18 and ₹22 lakh.

G20 summit in Delhi: In order to avert any waterlogging or flood related situation during the upcoming G20 summit, four heavy-duty mobile de-watering trucks, borrowed from Ahmedabad have been deployed at ITPO and Raj Ghat areas. According to an official statement issued by the Lieutenant Governor (LG) office, these vehicles are equipped with high-capacity suction pumps have been brought in by the Delhi Fire Services (DFS) to deal with any contingency like the one recently, where the area in and around the Raj Ghat and ITPO were submerged after heavy rains.

Comex is closed for trading today on account of US Labour day. Gold futures ended at $1,965.35 per troy ounce on Friday, down by $1 or 0.05% while Silver futures closed at $24.530, lower by $0.003 or 0.010%. The DXY was trading at 104.16 against a basket of six top currencies, though the bias ws negative. The October Gold futures had ended with gains of Rs 36 or 0.06% per 10 gram at Rs 59,410 on Friday while the December Silver futures closed lower at Rs 75099, down by Rs 583 per kg or 0.77%. «Gold's value increased during the week due to optimism about the Federal Reserve ending its tightening cycle as the US jobs report showed controlled cooling in the labor market, with solid hiring, slower earnings growth, and more people returning to work,» Neha Qureshi, Senior Technical & Derivative Analyst, Anand Rathi Commodities & Currencies said. On the daily chart, the October Gold contract is showing a pattern of higher highs and higher lows, which indicates a bullish sentiment while the RSI indicator is forming an upward trendline, suggesting that prices might move higher in the upcoming days, Qureshi said. The momentum indicator MACD has shown a positive crossover which signals bullish trends in the gold prices, this analyst said while putting resistance around Rs 59,600 — Rs 60,000 while support at Rs 59,150 — Rs 58,900 levels. Analyst Amit Khare Associate Vice President at Ganganagar Commodity sees some profit booking in gold with momentum indicator RSI indicating the same. His advice to traders is to book their long positions and they can make fresh short positions in gold and silver near a given resistance level.

digital currency available in their digital rupee [CBDC-R] wallet and scan to pay across any UPI QR code. Similarly, merchants need to only display their existing single QR code, which can accept payments in both CBDC and UPI.

₹15,000-20,000 if they earn income from a banking or credit facility, agricultural activity and cottage industry An Ahmedabad-based chartered accountant Raju Shah while informing about the situation told Moneycontrol, “Incorrect notices regarding proposed adjustments under Section 143 (1) (a) are being sent for claiming Section 80 P deductions. But we haven’t claimed these deductions for our clients as they aren’t eligible to claim them.

Mumbai-Ahmedabad high-speed rail corridor has commenced in Surat. What makes this project particularly noteworthy is the use of the Japanese Shinkansen-inspired J-slab ballastless track system on Indian soil for the very first time. As per a TOI report, the track system itself consists of a pre-cast track slab upon which fastening devices and rails are securely affixed. This slab is supported by a reinforced concrete (RC) track bed, boasting a substantial thickness of approximately 300mm.

Parle G is still going strong. This iconic product, for its ubiquity as well as longevity, can serve as a viewpoint to tell several stories — how a product ticks all the boxes to become so popular with the masses and remains so for long; how India's vast poor population has been a large consuming class too that supports big FMCG companies; how the long-held popularity of Parle G points at India's largest consuming classes remaining massed at the bottom as India failed to lift them out of poverty for long; and how the premiumisation of Parle G indicates Indians gaining more spending power. Yet, the most memorable Parle G story remains of a humble biscuit that became the most loved food item of modern India, defying shifting fashions of taste and divisions of class.From Gavaskar to migrant labourers Legendary cricketer Sunil Gavaskar had a weakness for Parle G biscuits and loved to eat them with his tea or coffee.

venture capital fund gradCapital has launched its second fund of $6 million (about Rs 49 crore) to invest in students' startups. The VC fund on Friday said it will offer a standard cheque of $40,000 (Rs 33 lakh) at 4 per cent equity in companies set up by students. gradCapital co-founder and CEO Abhishek Sethi said, «We are not in the business of finding and investing in deals, we are in the business of letting students be more ambitious and build a future, despite having a challenging education system. Students are more likely to start a D2C company instead of a quantum computer, and we need more of the latter.»

On the Comex, Gold futures were trading at $1,972.70 per troy ounce on Friday, down by $0.30 or 0.02% while Silver futures were trading at $24.985, lower by $0.119 or 0.470%. The DXY was trading flat at 103.63 against a basket of six top currencies, though the bias was positive. The October Gold futures had ended with declines of Rs 105 or 0.18% per 10 gram at Rs 59,373 while the December Silver futures closed higher at Rs 75,685, down by Rs 595 per kg or 0.78%. «Gold is likely to go up for a second week in a row because US inflation matched expectations, which makes the Federal Reserve less likely to raise interest rates. This led to a drop in Treasury yields, which is good for gold.

Reliance Industries: Viacom18 Media Pvt. Ltd, a unit of Reliance Industries Ltd (RIL), secured the media rights for all bilateral cricket matches to be played in India during the next five years for ₹5,963 crore through the e-auction conducted by the Board of Control for Cricket in India (BCCI) on Thursday. The RIL-run broadcaster outbid Sony Pictures Networks India across digital and television, while the third bidder, Disney Star, placed just a couple of bids, according to two people familiar with the development.

Torrent Pharma is cranking up its efforts to put together financing to buy out the promoter family of Cipla, said several people with knowledge of the matter, emerging as a key contender to conclude the largest pharma sector acquisition in the country till date. This includes a likely Rs 8,300 crore ($1 billion) equity infusion from one or more private equity players, they said. Ahmedabad-based Torrent has reached out to several PE funds, including Advent International, Bain Capital, Warburg Pincus and CVC Capital, for a minority stake in a consortium. In addition, it is in talks with domestic shadow banks and mutual funds for Rs 9,000-10,000 crore ($1.1 billion) in share-backed promoter financing. Torrent’s founders, the Sudhir and Samir Mehta family, own 71.25% as promoters. That’s amongst the highest promoter ownership in Indian pharma and they are seeking to use that headroom to dilute equity to raise leverage. They are also in separate discussions with foreign banks — Standard Chartered, JP Morgan, MUFG, Citi and Barclays among others — to raise as much Rs 32,000-35,000 crore (up to $4.23 billion) against the cashflows of the target as acquisition financing. The lenders are expected to revert with funding commitment letters at the earliest, said the sources mentioned above. JP Morgan is also advising Torrent Pharma. Bain, Advent, Warburg and CVC declined to comment.