City Chennai Financial News

Tata Power said on Monday that its unit Tata Power EV Charging Solutions Limited has signed a Memorandum of Understanding (MoU) with Indian Oil Corporation Limited (IOCL) to install more than 500 fast and ultra-fast electric vehicle (EV) charging points across India. Tata Power will install EV charging points across multiple IOCL retail outlets, the company said in a statement.

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Suzuki Motorcycle has rolled out free service support to flood-affected customers in Chennai and neighbouring districts, the company said on Saturday. This is aimed at reducing the financial impact of vehicle repairs faced by affected residents.

Chennai's flood has been startling. Large parts of the city are still inundated and without electricity. Loss of life has been less than in past years, but displacement and loss of property has been massive.

The first half of fiscal year 2024 remained lacklustre for commercial office space activity across the top 7 cities, with both net absorption and new completions remaining largely stagnant compared to the same period last year. New office supply across the top 7 cities rose by a meagre 5% in H1 FY2024 against H1 FY23, and net office absorption saw a marginal yearly decline of 1% in this period.

funding winter this week, with $108 million being pumped into across 12 rounds, according to data from market intelligence firm Tracxn. The week, however, recorded the largest fundraise for an India-based AI startup with a $41 million investment in Sarvam AI. Investment in startups fell 79% in the December 4-8 week, from $514 million across 38 funding rounds in the same period a year ago. Sequentially, however, funding activity saw a surge of 81%, compared to $59 million raised across 18 rounds, last week.

Chennai has broken as many residents of different areas complain of shortage of even drinking water and lack of cleanliness. In the Pattalam area in Chennai, roads are still waterlogged and the people are complaining of a lack of cleanliness and absence of necessities. A resident even warned the politicians to not come to the area to seek vote during the elections. «No one visited here. We struggled for three days without drinking water and milk.

Tamil Nadu Chief Minister MK Stalin will be donating one-month's salary to the Chief Minister's Public Relief Fund to help Tamil Nadu's recovery from Cyclone Michaung havoc. The Chief Minister has also called on all MPs and MLAs to do the same.

Cyclone Michaung which made landfall on the Andhra Pradesh coast near Bapatla on Tuesday afternoon, accompanied by intense rain and wind speeds up to 100 kmph, caused widespread devastation and affecting more than two crore people. The storm also claimed over a dozen lives. Thousands of ground-floor homes and vehicles remained submerged.

The Southern Railway has cancelled nine trains for December 8. It announced the cancellations of the trains in a bulletin and has tweeted the list of cancelled trains to inform the passengers in advance so that they can make their plans accordingly. As per the list tweeted by the Southern Railways, the trains which have been cancelled for December 8 include: 1. Train No.

Cyclone Michaung. The city has been witnessing “major flood" situations, Union Home Minister Amit Shah said. Earlier in the day, Tamil Nadu chief secretary Shiv Das Meena briefed about the restoration work that is underway in Chennai after cyclone Michaung hit the city.

Narendra Modi directed the Ministry of Home Affairs to release in advance the central share of the second instalment of the State Disaster Response Fund (SDRF) of ₹493.60 crore to Andhra Pradesh and ₹450 crore to Tamil Nadu, Defence Minister Rajnath Singh said on Thursday. Singh added that the Centre had already released the first instalment of the same amount to both States. 1. Cyclone Michaung weakened and converted into a low-pressure area in Jharkhand, a weather official said on Thursday.

India's first significant defence export. The missile is the first such armament developed jointly by India and Russia. These missiles are manufactured by Brahmos Aerospace in India.

Tamil Nadu government announced a holiday for all schools and colleges in Chennai, Tiruvallur, Kancheepuram, and Chengalpattu on Thursday due to severe flooding in several parts of these districts in the aftermath of Cyclone Michaung. Schools and colleges in six taluks — Pallavaram, Tambaram, Vandalur, Thiruporur, Chengalpattu, and Thirukazhukundram — will remain closed on Thursday. Schools and colleges in the Kundrathur and Sriperumbudur blocks of Kancheepuram will also remain closed. However, schools and colleges in Walajabad and Utiramerur will function as usual. Union Defence Minister Rajnath Singh is set to arrive in Tamil Nadu on Thursday to assess the prevailing flood situation in the wake of Cyclone 'Michaung'. Singh will be accompanied by Thangam Thennarasu, the state Finance Minister and chief secretary, during his aerial survey of the flood-affected areas. Union Minister of State for Information and Broadcasting, L Murugan, will also accompany the Defence Minister during his aerial survey. After his aerial visit, the Defence Minister will hold a meeting with Chief Minister MK Stalin and review the relief work being carried out by various agencies in the state. Earlier, on Wednesday, CM Stalin took stock of affected areas due to Cyclone Michaung and distributed necessities like food and milk to rainfall-affected people in Chennai. «The floodwaters in Chennai's suburbs are still inundated.

global capability centers (GCCs) in India established a base in a tier II city as companies sought to tap new talent markets, according to data from CBRE. In addition, GCCs across sizes and maturity levels are expanding and consolidating their footprint in India even as global technology demand remains cautious.

Mint explains why the city, which prides itself as an ideal investment destination, needs to do a lot more. The slow-moving cyclone dumped an unprecedented 43 cm of rain in just 35 hours leading to massive flooding across the city. This caused a major power outage which lasted more than 36 hours and it disrupted telecom services, including the internet.

₹5060 crore. -"The floodwaters in Chennai's suburbs are still inundated.

Chennai's prominent IT corridor, OMR, particularly the areas of Perungudi, Sholinganallur, and Thoraipakkam, experienced a severe setback as heavy rainfall battered the region. On Monday, these localities witnessed a staggering 45cm of rainfall, causing widespread chaos and distress among the residents, a TOI report stated. The main stormwater drains, constructed back in 2008, proved insufficient to handle the current volume of runoff water.

Bollywood star Aamir Khan, who was recently stranded at Karapakkam, Chennai due to the devastating floods and torrential rain was rescued along with Tamil star Vishnu Vishal and badminton champion Jwala Gutta by the fire and rescue services personnel on December 5. Taking to X (formerly Twitter) on Tuesday, Tamil Nadu industries minister TRB Rajaa praised the ‘3 Idiots’ star profusely for being patient and cooperating with the rescue team rather than attempting to pull strings and get saved first. “Astounding that he didn't try to pull any strings to be rescued! Awesome to see him being so grounded and WAITING HIS TURN to be rescued just like any of our fellow citizens. Lessons for those who try to pull strings and drop names!” reads his post.

Maruti Suzuki India has collaborated with its dealer partners and made several arrangements at its workshops. The company proactively sent out 7 lakh SMS alerts to its customers as soon as news about the cyclone 'Michaung' was reported. In a statement, it said that even before the cyclone hits, customers could take precautionary measures to protect their cars from potential damage.

Another day's holiday was declared for schools and colleges in Chennai on December 7. The cyclone-triggered heavy rainfall had led to inundation in localities including Velachery and Tambaram. On Wednesday too, people were seen leaving their homes in the areas surrounded with water to safer zones, carrying their children and wading through the stagnant water.