City Chennai Financial News

luxury real estate company, has raised Rs 150 crores from Dubai-based Luxe Port Group of Companies to expand its presence and fuel growth. The company will also use the capital to upgrade technology and strengthen the leadership team. The Bengaluru-based company will build a 2.5 million sq.

Kapil Sharma took IndiGo airline to task on November 29 over flight delay, putting up a series of posts on X (formerly Twitter). In this posts, Sharma chastised the airline for «making passengers wait inside the ferry bus and not informing them about the reason for the delay» at Chennai airport. Sharma wrote, «Dear @IndiGo6E first you made us wait in the bus for 50 minz, and now your team is saying pilot is stuck in traffic, what? Really? we supposed to take off by 8 pm n it's 9:20, still there is no pilot in cockpit, do you think these 180 passengers will fly in indigo again?.» In another post, he wrote that airline had deboarded all the passengers saying they would be accommodated in another plane, but only after another security check at the terminal. «Now they r de boarding all the passengers n saying we will send you in another aircraft but again we have to go back to terminal for security check,» he wrote on his X timeline. He also put up a video where passengers could be seen deboarding. «People r suffering bcoz of you @IndiGo6E lying lying n lying, there r some old passengers on wheel chairs, not in a very good health condition. Shame on you,» he wrote. Indigo later issued a statement saying that the delay involving the Chennai-Mumbai flight was due to «operational reasons». «Flight 6E 5149 from Chennai to Mumbai on Nov 29 was delayed due to operational reasons.

Franklin Templeton Mutual Fund said Janakiraman Rengaraju, currently the deputy CIO & Senior Portfolio Manager, will assume the role of Chief Investment Officer, Emerging Market Equities – India. Janakiraman will take over from Anand Radhakrishnan, CIO, Emerging Market Equities – India, who will leave the firm effective January 12, 2024, to pursue other opportunities, said a press release. In his new role, Janakiraman will work closely with Avinash Satwalekar, President, Franklin Templeton – India to further strengthen the equity franchise in India, supported by a 16-member team of investment managers and experienced analysts. He will continue to be based at the Franklin Templeton offices in Chennai and will report to Sukumar Rajah, Senior Managing Director & Director of Portfolio Management – EME Asian Equity. Janakiraman joined the firm in 2007 and has close to 27 years of experience in investment management. In his 16 years with Franklin Templeton, he has built an excellent track record in managing various funds. He currently manages several equity funds, including Franklin India Prima Fund, Franklin India Smaller Companies Fund and Franklin India Flexi Cap Fund.

Heavy rainfall flooded several areas of Chennai, leading to the release of 200 cubic feet of excess water from Chembarambakkam Lake, the city's main drinking water source, at 10 am. This has prompted a flood warning for low-lying regions and six villages along the Adyar River. Kanchipuram district has witnessed varying degrees of rainfall over the past ten days due to weather changes and a low depression.

electric scooters and speed his nation to a cleaner future. Some of his mechanics can't keep up, though. Aggarwal's Ola Electric, which he likens to Tesla in the West, is zipping towards a stock-market listing after going from zero to 338,000 e-scooter sales in about two years. The tech entrepreneur vows to banish the internal combustion engine (ICE) from India, where two-wheel vehicles rule the roads.

Elon Musk, is racing to roll out millions of electric scooters and speed his nation to a cleaner future. Some of his mechanics can't keep up, though. Aggarwal's Ola Electric, which he likens to Tesla in the West, is zipping towards a stock-market listing after going from zero to 338,000 e-scooter sales in about two years.

Agnikul, a Chennai-based startup specialising in building satellite launch vehicles, plans to launch its first flight — with the world’s first 3D-printed engine — before the end of this year. The mission would be a technology demonstrator that will mirror Agnikul’s orbital launch – the first commercial launch planned in 2024 — but at a reduced scale.

Tamil Nadu chief minister MK Stalin on Monday unveiled a statue of former prime minister VP Singh in Chennai's Presidency College to commemorate his 15th death anniversary. Singh is credited with the implementation of the Mandal Commission report, which paved the way for 27% reservation for OBCs in central government jobs. The unveiling of Singh's status gains significance in the backdrop of the importance that caste census and OBC (other backward class) politics have gained in the political narrative across the country. The event was attended by Singh's family members and Samajwadi Party chief and former Uttar Pradesh chief minister Akhilesh Yadav, among others. Sources told ET that JD(U) and RJD, the leading political parties of Bihar which came to existence riding on the Mandal wave, were not invited for the function, and it was only SP leader Yadav who was invited. Exemplifying the vagaries of politics, SP leader Mulayam Singh Yadav had become opposed to Singh in the later years, and had gone with his rival Chandrashekhar. At Monday's event, Stalin praised Singh, calling it a duty of his party DMK to honour the guardian of social justice. Tamil Nadu provides 69% reservation in the state.

GrowXCD Finance has raised Rs 50 crore in a series A funding round from Lok Capital, of which the first tranche of Rs 30 crore has been closed. The Chennai-based firm, which focuses on micro, small and medium enterprises (MSME), plans to use the funds to set up its initial team, develop technologies and expand its footprint over the next 12-18 months.

IPL). Now, he has also been released by Chennai Super Kings (CSK) while the CSK management expressed their support for Stokes's decision. He plans to undergo knee surgery and aims for a complete recovery before England's extensive Test series in India.

Fortune Park Hotels, a wholly-owned subsidiary of ITC Ltd has strengthened its presence in Tamil Nadu with the launch of Fortune Park Tiruppur in the state. With the setting up of its new property in Tiruppur widely known as the textile and knitwear hub of the country, the hotel marks a significant step towards the expansion of Fortune Hotels in south India, a press release said here on Sunday.

IPL are announcing the players they will be retaining, trading or releasing. The deadline for trading is November 29 and the auction will be conducted on December 19 in Dubai. This is the first time that the auction will be conducted abroad. Chennai Super Kings, one of the most successful teams of IPL has announced the list of players they are dropping to expand their reserve ahead of auction. CSK had lifted the cup of last year's tournament. List of players dropped:

Mumbai Indians are able to bring back Hardik Pandya from Gujarat Titans, it will be considered the biggest trade in IPL history. The deadline for retention and trading players by the teams is November 26, 2023. The auction of the tournament that will be played next year is on December 19 in Dubai.

weather bulletin said it expects "likely heavy rains" at isolated places over Cuddalore, Kancheepuram, Ranipet, and Tiruvallur districts in Tamil Nadu today on November 26. A "light to moderate" rainfall warning has also been issued for Puducherry till November 26. "For the next two to three days, as far as Tamil Nadu and Pondicherry are concerned, light to moderate rainfall is expected.

IMD weather forecast: Mumbai braces for rainfall from today Besides, the weather monitoring agency has made a similar rain forecast for Marathwada, as well as, east and west Rajasthan. "Thunderstorm activity accompanied with hailstorm and heavy rainfall likely over Maharashtra, Madhya Pradesh, Gujarat, and south Rajasthan during 26th -27th November," the weather department added.

ICC) event ever, there is a sense of confidence in cricket’s health. But, look a little deeper and you start to doubt your hypothesis. While the games involving India were watched by millions, what about the games that didn’t involve India? How many fans watched the brilliant Australia-South Africa semi-final? India — or more specifically, it’s fans and market— is cricket’s biggest strength.

India Meteorological Department (IMD) on Saturday issued a thunderstorm alert for Tamil Nadu and Puducherry for the upcoming three hours. Meanwhile, all schools in Tamil Nadu's capital Chennai will have a holiday today due to heavy rain in the region, as informed by the District Collector. Tamil Nadu received heavy rainfall on Friday, IMD said in a post on X.

Reserve Bank on Friday imposed penalties totalling Rs 10.34 crore on Citibank, Bank of Baroda, and Indian Overseas Bank for contravention of various regulatory norms. The highest penalty of Rs 5 crore has been imposed on Citibank NA for non-compliance of norms related to depositor education and awareness fund scheme, and code of conduct on outsourcing of financial services, the RBI said in a statement.

Fortis Healthcare said on Friday that it has signed definitive agreements to sell Fortis Malar Hospital in Chennai, to MGM Healthcare Private Limited for about Rs 128 crore. The deal is for the sale of the business operations along with the land and building assets pertaining to Fortis Malar Hospital situated at Gandhi Nagar, Adyar in Chennai. The transaction will be an all-cash deal and is estimated to be consummated by end of January 2024, the company said in a statement to stock exchanges. The divestment is a part of Fortis’ ongoing portfolio rationalization strategy in order to focus on deepening its presence in select geographic clusters where it has a sizable presence.

Bank of India (RBI), banks will remain closed in the following regions: Agartala, Aizwal, Belapur, Bhopal, Bhubaneswar, Chandigarh, Dehradun, Hyderabad, Telangana, Itanagar, Jaipur, Jammu, Kanpur, Kohima, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Raipur, Ranchi, Shimla, and Srinagar. Apart from this, banks will remain shut in Ahmedabad, Bengaluru, Chennai, Gangtok, Guwahati, Hyderabad-Andhra Pradesh, Imphal, Kochi, Panaji, Patna, Shillong and Thiruvananthapuram.

Fortis Healthcare Limited, a comprehensive healthcare service provider, on Friday, announced that it has finalized agreements for the sale of Fortis Malar Hospital in Chennai to MGM Healthcare Private Limited. The agreed sale consideration is approximately ₹128 crore.