City Chennai Financial News

Taj Hotel Chennai, a Tata group property, has garnered raise on social media for a considerate gesture toward a guest who had to cut short his trip due to the flooding. The downpour has disrupted daily life, forcing schools and colleges to shut down, causing frequent power outages, and creating severe traffic jams on waterlogged streets. D Prasanth Nair shared his experience on the social media platform X, commending the Tata Group-owned Taj Hotels for their customer-first approach. Nair compared his experience at the Taj hotel with that of his colleague, who stayed at another prominent hotel chain. Nair and his colleague had planned to stay in Chennai until October 16. However, with the unpredictable weather worsening, they decided to leave on the evening of October 15 instead. Nair informed the Taj hotel of his early departure and was surprised when the staff chose not to charge him for the unused night, even though they were technically entitled to do so. The hotel cited their understanding of the situation, acknowledging the weather-related difficulties behind his change in plans.

Sino-India relations following the opening of another Taiwan de facto consulate in Mumbai. China opposes moves by any countries it has ties with to engage in official contacts with Taiwan, said Mao Ning, a foreign ministry spokesperson, at a regular news conference. The Taiwanese government opened its third representative office in India on Wednesday, Taiwan's official Central News Agency reported, adding to existing offices in New Delhi and Chennai.

Subscribe to enjoy similar stories. Mineral stocks, quiet through much of 2024, are heating up ahead of what promises to be an exciting 2025. Top investors anticipate a promising year for these stocks, with Dolly Khanna, making a strategic entry into one such company after Rekha Jhunjhunwala bought and sold shares of Raghav Productivity Enhancers, which manufactures and exports quartz-related products Dolly Khanna is an investor in Chennai who is known for picking some lesser-known mid caps and small caps.

₹1,865 to ₹1,960 per share.The Hyundai Motor India IPO achieved a 42% subscription on the second day of the subscription period, according to BSE data. Retail investors subscribed to 38% of the portion, while non-institutional investors reached 26%. The qualified institutional buyers (QIBs) portion saw a subscription of 58%.

Indian Meteorological Department (IMD) has issued an alert for residents in parts of Tamil Nadu and Andhra Pradesh as a depression over the west-central and southwest Bay of Bengal is moving towards the coast. This weather system is expected to bring heavy rainfall and potentially disrupt daily life in several areas. According to the IMD, the depression moved west-northwestwards at a speed of 22 km/h over the past six hours. As of late last night, October 16, 2024, it was centered over the Bay of Bengal, approximately 80 km east-northeast of Chennai, Tamil Nadu, and 150 km southeast of Nellore, Andhra Pradesh. This places the depression very close to the coastline.

Subscribe to enjoy similar stories. Situated on the outskirts of Chennai, M.A. Velayudham started a chess coaching centre with just 10 students.

working conditions, and recognition of their newly-formed labour union, the Samsung India Workers Union (SIWU). What was the state government’s role? Initially, the state government did not step in to help resolve the dispute after workers at the Sriperumbudur plant struck work on September 9. It was only a few weeks later when chief minister M.K. Stalin returned from a trip to the US that the government decided to engage in talks with the workers.

Malaysia Airlines and IndiGo entered a strategic codeshare partnership following the Memorandum of Understanding (MoU) signed in April 2024. The partnership aims to boost connectivity and elevate the traveller experience across its key hubs within Malaysia and India.

Eldercare startup Primus Senior Living has raised $20 million in a seed funding round led by General Catalyst, with participation from Zerodha cofounder Nikhil Kamath and Gruhas, the investment firm co-founded by Kamath and Abhijeet Pai of Puzzolana Group. General Catalyst contributed $7 million to the round, while Kamath and Gruhas invested the remaining $13 million, according to Adarsh Narahari, founder and managing director of Primus. Led by Narahari, Bengaluru-based Primus is developing a comprehensive eldercare platform offering various services, including healthcare, wellness, lifestyle, and social engagement—all delivered to elders in their homes.

The report highlights that Gurugram has experienced the most significant increase in newly-launched housing prices, jumping from Rs 7,500 per square foot in 2019 to Rs 19,500 per square foot in 2024. It marks an increase of 160% in five years. Noida has experienced a price jump from Rs 6,500 in 2019 to Rs 16,000 in 2024, reflecting a rise of 146% in five years. Bengaluru prices has risen from Rs 5,051 in 2019 to Rs 10,020 in 2024, a notable increase of 98% in five years. In Hyderabad, the price rose from Rs 4,686 in 2019 to Rs 8,500 in 2024, representing an 81% rise in five years. Chennai recorded a surge from Rs 4,451 in 2019 to Rs 8,023 in 2024, indicating an 80% rise during the five-year period.

Predator drones for the Indian armed forces. As part of the deal, India will also see the establishment of a maintenance, repair, and overhaul (MRO) facility for the General Atomics-manufactured drones in the country. Final approval for the mega deal was secured earlier this year during a Defence Acquisition Council meeting, with the Indian government cutting it close to an October 31 deadline set by the Americans. The Cabinet Committee on Security (CCS) only approved the deal last week. Of the 31 drones, 15 will be allocated to the Indian Navy, while the Air Force and the Army will each receive eight. The long-range drones will be armed and will add to the two that are already being leased by the Navy.

Skill Development & Entrepreneurship on Monday said it has entered into a partnership with Meta to launch an AI Assistant for the Skill India Mission and establish five centres of excellence in virtual reality and mixed reality. Under the partnership, an innovative AI-powered chatbot powered by Meta's open-source Llama model will be developed to enhance the learner experience on the Skill India Digital (SID) Portal. Moreover, the five centres of excellence at National Skill Training Institutes (NSTIs) in Hyderabad, Bengaluru, Jodhpur, Chennai, and Kanpur will equip learners and instructors with the latest VR technology to learn and enhance existing skills in a safe, immersive, and engaging environment, according to a statement.

skill development and entrepreneurship (MSDE) entered into a partnership with Meta India to provide artificial intelligent (AI) assistant for the Skill India Mission and to establish five centers of excellence (CoEs) in virtual reality (VR) and mixed reality (MR) at National Skill Training Institutes (NSTIs) located at Hyderabad, Bengaluru, Jodhpur, Chennai and Kanpur. “Our mission is to empower India’s youth with the skills they need to thrive in today’s competitive landscape,” Jayant Chaudhary, minister of state (independent charge), MSDE said. “By integrating technologies like artificial intelligence, virtual reality and mixed reality into the Skill India ecosystem, we are democratizing access to cutting-edge technologies enabling personalized learning pathways for the youth of the country,” he said.

Bansi S Mehta which has a five decade history of advising large corporates on mergers is combining with Karra & Co to expand its reach across India, as per a linkedin post by the Mumbai-based firm. Founded by Bansidhar S Mehta in 1958 as a firm of accountants it has expanded capabilities to include tax and mergers advisory. It also has offices in Delhi and Surat. “As part of this merger, we will be expanding our presence with the addition of new branches in Chennai and Hyderabad. This expansion will enable us to better serve our clients and community, providing more accessible and convenient options”, said a statement from the firm.

Indian armed forces' surveillance capabilities. These deals involve acquiring 31 Predator drones and establishing a maintenance, repair, and overhaul (MRO) facility in India. The Cabinet Committee on Security (CCS) approved the acquisition last week. Of the 31 drones, 15 will be allocated to the Indian Navy, while the Air Force and the Army will each receive eight. The Foreign Military Sales contract and the MRO agreement with the US will be signed on Tuesday, according to defense officials. A team of American military and corporate representatives is currently in India to finalize these contracts. Key Indian defense officials, including the Joint Secretary and Acquisition Manager for naval systems, will attend the signing ceremony.

Subscribe to enjoy similar stories. Bengaluru: Dilip Tirkey remembers the evening of 13 January 2005 like it was yesterday. Tirkey, then India’s hockey captain, created history at the Gachibowli Stadium in Hyderabad.

Private equity investment inflows into the Indian real estate sector reached USD 2.2 billion in Q3 2024, 93% growth on a sequential basis and more than double the investment volume recorded in the same period last year.

Subscribe to enjoy similar stories. Picture this. You wake up to a series of notifications from your bank and find your credit card has been used without your knowledge.

News18 report. Tamil Nadu Health Minister Ma Subramanian added that the condition of those undergoing treatment at the hospitals was stable.

Subscribe to enjoy similar stories. Growing anxiety over Tractors and Farm Equipment Ltd's (Tafe) rising ownership in Agco Corp., plus its demand for board-level changes at the US-based tractor maker, prompted the latter to snap its brand agreement with the Chennai-based company, according to Tafe's court filings, as well as a senior company executive. After discontinuing some business ties with Tafe earlier this year, Agco on 30 September terminated its agreement that allowed Tafe to sell tractors under the Massey Ferguson brand, accusing the Indian company of what it called inappropriate and unauthorized actions.

car sunroofs is pushing the world’s leading makers of the feature to join local partners in ramping up investments to tap this burgeoning market. Netherlands-based Inalfa Roof Systems along with its partner Gabriel India is looking to double capacity for manufacturing sunroofs in the next one year. The duo, which opened their first plant in Chennai in the first quarter of 2024, can currently produce up to 200,000 sunroofs annually. Germany’s Webasto—a global leader in openable sunroofs—has started work to nearly double production capacity in the Indian market to 950,000 units per year by 2027, from the current 500,000 units. Auto parts maker Uno Minda inked a technical licence agreement this August with Japan’s Aisin Corp., among the world’s top 10 Tier I component suppliers, to locally manufacture and sell vehicle sunroofs. “The Indian automotive market is witnessing a remarkable shift, with sunroofs rapidly becoming a sought-after feature,” said NK Minda, chairman and managing director, Uno Minda. “Sunroofs have seen multifold growth in recent years. This trend is only set to accelerate as sunroofs, once limited to larger SUVs and MUVs, are now increasingly finding their way into hatchbacks.”