City Chennai Financial News

Pichai, in an interview with BBC in 2021, revealed that one of his jobs as the CEO of Google demands him to make sure that the company's products work fine on different devices. "I am constantly changing and trying out every new phone," Pichai had said. When asked about how often he changes his passwords, Pichai said, "I have a 2-factor authentication.

Mutual fund managers continued their robust equity purchases for the fifth consecutive month in December 2023, pushing their total net equity investments over ₹1.7 trillion in the calendar year. Fund managers bought equities worth ₹230 billion (bn) until 28 December compared to ₹180 bn in November 2023, data from the Securities and Exchange Board of India (Sebi) showed. With inflows into equity MF schemes remaining positive for the past 34 months, domestic MFs have emerged as a pillar of support for the stock market.

Bain Capital, Advent International and CVC Capital are among the private equity funds that are competing to buy Shriram Housing Finance Ltd (SHFL), an arm of Chennai-based non-banking finance company (NBFC) Shriram Finance, said people with knowledge of the matter. These three, along with Warburg Pincus, have been shortlisted after non-binding bids were submitted by potential buyers in mid-December. They are currently engaged in conducting due diligence. Binding bids are due in a fortnight. Parent Shriram Finance, which is mainly involved in commercial vehicle financing, owns 84.82% of SHFL, which focuses on affordable homes. San Francisco-based PE Valiant Capital Management owns most of the remaining stake.

MS Dhoni, the iconic figure in Indian cricket, has sparked considerable interest with his latest bat sticker as the IPL 2024 approaches. As captain of the Chennai Super Kings, Dhoni appears to be gearing up for what could potentially be his final hurrah in cricket. Displaying the 'Prime Sports' logo on his bat serves as Dhoni's gesture of appreciation, reflecting his gratitude and affection for those who have supported him throughout his illustrious career. The owner of Prime Sports, Paramjit Singh, lauded Dhoni's action, describing it as a testament to their strong friendship. This act of appreciation transcended geographical boundaries, gaining recognition even from cricketing legends like Michael Hussey and Adam Gilchrist in Australia. Nevertheless, Prime Sports isn't the sole beneficiary of Dhoni's heartfelt gestures. Somi Kohli, the proprietor of 'Beat All Sports' (BAS), one of India's prominent sports manufacturing companies, disclosed Dhoni's greatness during the 2019 World Cup. Despite the tournament marking Dhoni's final appearance in Indian colors, he opted not to charge any fees for donning the BAS logo on his bat.

Burglars who steal valuables can sometimes develop remorse and even return them! A group of burglars who ransacked Tamil director Manikandan’s house has returned an amount of the loot and even apologised for the nuisance they created! The burglars broke into Manikandan’s house in Usilampatti and stole cash, gold jewellery, as well as medals. However, later, the burglars seemed to have had a change of heart!

₹3,296 crore. Like-to-like consumption was softer, up 5%. This can be partially due to the usual quarterly shift in the festive season.

A robust 17.4% YoY surge in rents was recorded across 13 major Indian cities, with Gurugram (31.3% YoY), Greater Noida (30.4% YoY) and Bengaluru (23.1% YoY) taking a lead, according to Magicbricks’ flagship Rental Update (October- December 2023).

Anurag Singh Thakur, minister of information and broadcasting, and youth affairs & sports, released the ‘Revised Policy Guidelines for setting up Community Radio Stations in India’ on the occasion of ‘World Radio Day’ during the Regional Community Radio Sammelan (South) on 13th February 2024 at Anna University, Chennai. 

Mumbai-Ahmedabad train corridor also known as 'Bullet train.' Captioning it “Stay tuned for #BulletTrain in Modi 3.0!", Vaishnaw's post ahead of the upcoming elections, seemed like yet another poll promise in the Indian railways, if Prime Minister Narendra Modi and his cabinet is voted back to power for a third straight term, in the upcoming 2024 Lok Sabha Elections. The Mumbai-Ahmedabad corridor has been making steady progress since work began in November 2021.

PM Modi to be on a two-day official visit to UAE from February 13: Prime Minister Narendra Modi will kick off a two-day official visit to the United Arab Emirates today, where he will inaugurate the first Hindu temple in Abu Dhabi, address the World Government Summit, and meet with top UAE officials. PM Modi's agenda in Qatar includes meetings with Sheikh Tamim bin Hamad Al Thani, the Emir of Qatar, among other senior officials.

Teri Baaton Mein Aisa Uljha Jiya Box Office Collection Day 3: Shahid Kapoor and Kriti Sanon starrer "Teri Baaton Mein Aisa Uljha Jiya" earned ₹9.4 crore at the box office on Day 3 of its release, Sacnilk.com said on Sunday. The firm has collected ₹25.75 crore after 3 days of its release on 9 February, and the Day 3 earnings of the film at the global box office are still not revealed. Earlier, production house Maddock Films released the global box office collections of 2 days and informed that the film has crossed ₹20.2 crore in worldwide theatres.

PTI. Citing sources, the report said the Sri Lankan government is in touch with IIT Madras for the ambitious project. “A high-level delegation had recently visited the Chennai campus to discuss the future roadmap.

offshore campus of the prestigious Indian Institute of Technology (IIT) is likely to be set up in Sri Lanka, according to sources. The proposal for an IIT in Sri Lanka was announced last November in the 2024 Budget unveiled by Sri Lankan President Ranil Wickremesinghe, who also serves as the finance minister. According to sources, the Sri Lankan government is in touch with IIT Madras for the ambitious project. «A high-level delegation had recently visited the Chennai campus to discuss the future roadmap. The talks are on and the campus is likely to come up in Kandy,» a source said.

ANI has reported. As per the report, in the email, the unknown sender identified himself as an absconding US citizen, the police informed. The accused in the email threatened to blow up the American consulate and kill all US citizens working there.

₹9 crore as per early estimates. As per Sacnilk.com report, the film minted ₹9.50 crore on Day 2 with this taking the total collection to ₹16.20 crore net in India. Speaking of overseas collections, the film is Shahid Kapoor's biggest opener overseas grossing over $700k [and counting], including premieres, Film trade analyst Taran Adarsh said on 10 February.

Biju Janata Dal (BJD) leader V Sugnana Kumari Deo, President Draupadi Murmu on Saturday said she earned respect across the political spectrum with her immense contribution to Odisha and its people. V Sugnana Kumari Deo was undergoing treatment at a hospital in Chennai where she died at the age of 87 on Saturday. Taking to her official X handle on Saturday, President Murmu posted, «Saddened by the demise of V Sugnana Kumari Deo, a veteran leader who served ten terms as legislator in Odisha Assembly. Cutting across parties, she earned respect from all. Her contribution to the development of the state is immense. I extend my deepest condolences to her family members and followers.»

Teri Baaton Mein Aisa Uljha Jiya Box Office Collection Day 1: Bollywood movie Teri Baaton Mein Aisa Uljha Jiya, starring Shahid Kapoor and Kriti Sanon, was released on February 9. Upon its release, the movie collected ₹6.50 crore. As per media reports, the movie has been made with ₹75 crore.

Microsoft CEO Satya Nadella has urged more than a thousand Indian computer code developers to use the company’s artificial intelligence tools being deployed across its products

Indians now constitute one-tenth of all US visa applicants globally, with demand skyrocketing across all visa categories, witnessing a remarkable 60 per cent surge compared to the previous year. «In 2023, the US Embassy and Consulates in India processed a record-smashing 1.4 million US visas. Demand across all visa classes was unprecedented, with a 60 per cent increase in applications compared to 2022. Indians now represent one out of every ten US visa applicants around the world,» a statement by the US Embassy and Consulates in India said. Visitor visas (B1/B2) experienced a notable resurgence, representing the second-highest number of applications in the history of the US Mission, surpassing 700,000. The United States has ramped up staff in India whoch have led to a remarkable reduction of appointment wait times from an average of 1,000 days to a mere 250 days nationwide, across all visa categories. The US consular team in India achieved another milestone by issuing over 140,000 student visas in 2023, setting a record for the third consecutive year. Mumbai, New Delhi, Hyderabad, and Chennai emerged as the top four student visa processing posts globally, solidifying Indian students as the largest cohort of international graduate students in the United States, constituting over a quarter of the one million foreign students in the country.

corpus of Rs.10.5 crore to sustain inflation-adjusted withdrawals till the age of 85. To build this enormous nest egg, Nagarajan needs to put away nearly Rs.80,000 every month in avenues that earn her 10% annualised returns. However, the Chennai-based IT professional earns Rs.60,000 per month and spends nearly all of it. “If I start saving for retirement, I will have nothing left to spend,” she says. Many people dream of a care-free retirement, with lots of spare time and enough money in the bank. This dream may remain just that if you haven’t saved enough. The road to building an adequate nest egg is full of pitfalls. Topping the list is investing less than you need to. A 30-year-old, aiming at a retirement income of Rs.50,000 a month, will need to invest Rs.35,000 a month for 30 years to live comfortably till the age of 90. Invest less than this amount and your nest egg will be finished in no time (see graphic). “Under-funding of retirement corpus is a common problem. People don’t realise this until much later, when money starts running out,” says Abhishek Kumar, Founder & Chief Investment Adviser, SahajMoney. No more nudges It is here that compulsory savings play an important role. The mandatory monthly contribution to retirement plans, such as the Employees’ Provident Fund and the NPS, means that salaried people are putting away at least 12% of their income towards retirement. Add to this the tax-saving investments under Section 80C, which force many people to put away money in long-term investments.

₹10 lakh sum insured at a premium of ₹30,500. But when she renewed the policy a year later, the premium had jumped a whopping 57% to ₹48,000. “The insurer had warned us about the premium hike because of the age slab changes that happen when you turn 61 but I didn’t expect it to be this high," says Pathak.