City Ahmedabad Financial News

Congress on Thursday shared several photographs of Jawaharlal Nehru and Indira Gandhi with doyens of India's space programme such as Vikram Sarabhai to highlight the continuity in the country's progress in the sector.

Vistara pilot prevented a possible collision between two aircraft and saved over 300 lives at the Indira Gandhi International Airport on Wednesday. As per a TOI report, the incident occurred when a Vistara UK926 flight from Ahmedabad had just touched down on runway 29L and another Vistara UK726 aircraft was about to take off from runway 29R with both flights having a combined total of 322 passengers on board. Captain Sonu Gill, in command of the landing aircraft, had been directed by air traffic control (ATC) to taxi to Terminal 3 by crossing the parallel active runway 29R after landing.

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Air traffic controllers at Delhi airport inadvertently set two Vistara flights on a collision course on Wednesday - avoiding tragedy at the last minute thanks to an alert pilot. The incident took place at Delhi airport as one flight was landing and the other taxing for take off. Combined, the aircraft had held around 300 passengers.

New Delhi: The National Health Authority (NHA) announced that Aizawl, the capital city of Mizoram, has become the first state in India to operationalize Ayushman Bharat Digital Mission’s (ABDM) microsite project. Last month, NHA announced 100 microsites project for accelerated adoption of digital health mission scheme across the country. The microsites are defined geographical regions where focused outreach efforts would be made to onboard small and medium scale private healthcare providers.

The Directorate General of Civil Aviation has de-rostered an air traffic controller following a runway incursion involving two Vistara flights. A flight from Ahmedabad to Delhi aircraft narrowly averted a major accident after receiving instructions that essentially set them on a collision course.

Vikram Sarabhai to India's first privately made rocket Vikram-S, which was launched last year by Hyderabad-based startup Skyroot Aerospace, to the Vikram lander, all these milestones of India's space journey bear the name of the man who put India on the space map. India's moonshot, and indeed its whole sprawling space programme, had begun at an unlikely place.A dream was born in a tiny outhouse Just as many immensely successful tech companies such as Microsoft started out from garages, India's space programme too had humble beginnings.

Reliance Retail Ventures Ltd, the retail business of Mukesh Ambani’s Reliance Industries Ltd, is looking to raise Rs3,048 crore through an infrastructure investment trust (InvIT) of its warehousing and logistics infrastructure assets, shows a draft document filed with Sebi. ET first reported on 12 April that Reliance was planning to monetise the warehousing and logistics assets of its retail business through an InvIT and that the group had set up a trust under the name of Intelligent Supply Chain Infrastructure Trust for this purpose. Reliance Retail will hold a minimum of 25% units of the trust and balance will be sold to incoming investors. Of the total issue proceeds of Rs3,048 crore, around Rs100 crore will be used for acquiring equity shares of a special purpose vehicle (SPV) created to hold the warehousing assets, while a sum of Rs2,928 crore will be used to provide a loan to the SPV for acquisition of the warehousing and related logistics assets. The initial proposal is to acquire warehouse space of 12.77 million square feet and related logistics infrastructure for a consideration of Rs4,261 crore. Additionally, the trust has also entered into a lending agreement with Sikka Ports and Terminals Ltd, a Reliance group entity, to avail a rupee term loan of Rs2,122 crore, which will also be utilised towards acquisition of the warehousing assets. The portfolio of assets will comprise 64 warehouses spread across 34 cities across India including key warehousing markets such as Delhi NCR, Mumbai, Bengaluru, Chennai, Kolkata, Ahmedabad, Pune and Hyderabad.

Torrent Pharma has joined the fray to buy out the Hamied family, the promoters of Cipla – a company that is more than double (2.3x) its FY23 consolidated revenues, and 2.3 times its profits and 1.46 times its present market value – said multiple people in the know. Ahmedabad headquartered Torrent is working with JP Morgan to compete with global of the biggest buyout funds Blackstone and Baring Private Equity Asia-EQT. Torrent is looking to partnering with private equity funds and form a consortium but those discussions still preliminary.Lenders tapped In parallel, Torrent has approached multiple lenders for funding and is keen to make an all-cash offer. Work has intensified in the past month, said one of the people mentioned above.

₹50 crore from existing investors, International Market Management in UK and Hunch Ventures in India. In 2018, Indian venture capital firm Hunch Ventures took a significant minority stake in Dolomite Restaurants, owned by International Market Management (IMM), founded by Dolomite managing director Jasper Reid. This year IMM, Dolomite’s parent, sold its Wendy’s burger chain to Rebel Foods for an undisclosed sum.

Devbhumi Dwarka police have dismantled a factory located in Punjab that was producing alcoholic ayurvedic syrup exclusively intended for the Gujarat market. As per a TOI report, the factory had already shipped approximately two lakh bottles of this syrup to Gujarat in last one year. During the police operation, a substantial amount of raw material, sufficient to produce an additional two lakh bottles of the syrup, was seized from the factory.

₹88 lakh to ₹1.84 crore ex-showroom. The 2023 Porsche Cayenne facelift and Cayenne Coupe facelift were officially introduced to the Indian market in July.

social media, OTT platforms, and online gaming, according to a recent study conducted on the digital media consumption habits of Indians. As per a TOI report, the study — titled 'New age digital media consumption- was conducted by an IIM Ahmedabad professor in collaboration with a think tank. The research surveyed 2,000 respondents across 10 Indian cities and analyzed app data from over 20.58 lakh users.

India’s real estate started its upwards journey post the Covid-19 mayhem in 2021 itself. By the end of 2022, the country’s second largest employment generating sector had gained momentum as reflected in key performance indicators, as buyer sentiment vis-à-vis the sector changed in the aftermath of the pandemic. In that sense, the year 2023 started on a firm footing for the sector that contributes greatly to India’s overall growth.

PTI, Anarock affirmed that the real estate developers are aiming at business expansion and tapping into the high demand for residential and commercial properties in the post-pandemic period. "Our latest research indicates that as many as 59 separate land deals for over 2,018 acres have been closed across the country between January to August 2023," Anuj Puri, Chairman of Anarock, said. The real estate consultant added that the land parcels are increasingly being used for setting up manufacturing units and hospitals.

World Cup games in as many days is not ideal for organisational as well as security reasons and hope a one day breather is provided, said a Hyderabad Cricket Association (HCA) official on Sunday, signalling another change in schedule for the ODI showpiece beginning in India on October 5. After a much-delayed schedule announcement in June, the BCCI and ICC rescheduled as many as nine games earlier this month, including the marquee clash between India and Pakistan. With the Indo-Pak fixture in Ahmedabad advanced by a day on October 15, Pakistan's game against Sri Lanka in Hyderabad was moved to October 10 from October 12.

The MCX October gold futures were trading with gains at Rs 58,399 per 10 grams on the MCX, up Rs 109 or 0.19% from Thursday's closing price. Meanwhile, September Silver futures were at Rs 70,400, higher by Rs 382 or 0.55%. Track prices here On the Comex, gold futures were trading at $1,922 per troy ounce on Friday, up $7.30 or 0.38% while silver futures were at $22.8900, lower by $0.175 or 0.770%.

BCCI) notched up FY21 revenue of '4,739 crore, falling only marginally from '4,972 crore the year before, the government said in Parliament on August 8 in reply to a question. A year later, as normalcy returned, the BCCI's revenue surged to '7,606 crore, consolidating its position as the richest cricket administrator. It paid '1,159 crore in tax, up from '845 crore a year earlier.

online gaming and Rs 200-400 on over-the-top (OTT) platforms, according to a report by technology and policy think tank Esya Centre. Published in a working paper of IIM Ahmedabad, the survey outlines that users spend the maximum time about 194 minutes a day on social media, compared to 46 minutes on online gaming and 44 minutes on OTT.

₹100 a month and less than an hour a day on online gaming. On OTT platforms, the amount was far more, between ₹200 and ₹400 a month. The paper by Rajat Sharma and Vikash Gautam titled ‘New-Age Digital Consumption: A Survey of Social Media, OTT Content and Online Gaming’ also outlines that policy concerns around unwanted user actions, especially in online gaming, which are not supported by user time-spend or money-spend data.

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