City Chennai Financial News

VinFast Auto is evaluating potential sites for its planned manufacturing facility and has already reviewed two locations in Tamil Nadu, people aware of the developments told ET. Touted as a rival to iconic EV maker Tesla, the auto company has been shown land in the Manalur region north of Chennai as well as in one of the state’s southernmost districts Tuticorin, according to sources who said that VinFast was also set to evaluate plots in Gujarat shortly.

Industrial Automation solutions provider, Fuji Electric is looking to expand its presence in India and is doubling down on its investments in the country in a bid to diversify its supply chain operations from China. «As we have the three-year plan, we need to look for a bigger factory, and Tamil Nadu would be our first preference to do the investment,» Yosuke Ishizaka, Managing Director, Fuji Electric India told ET in an exclusive interaction.

celestial phenomenon is on the horizon as we approach the final lunar eclipse of 2023. This weekend, set your sights on the night sky as a partial lunar eclipse, known as Chandra Grahan, is poised to captivate India.

Sajjan Jindal is reportedly in the process of establishing a significant presence in the Indian auto market. The plan involves acquiring a substantial stake in MG Motor India, a unit of the Chinese company SAIC, and subsequently acquiring Ford's factory in Chennai through a new entity.

Indian startups have shed more than 30,000 jobs. Investors now worry that companies in their portfolio will never make money. Heavy losses by Indian “unicorns" (unlisted companies worth $1bn or more) bear this out.

Co-working startup Innov8 has announced that it will double its footprint in the ongoing financial year FY 2023-2024. The company added 5 new centres in key business cities in India in early 2023 and is all set to inaugurate 5 more centres in the current quarter.

Pakistan and South Africa World Cup squads: Pakistan: Babar Azam (c), Shadab Khan, Fakhar Zaman, Imam-ul-Haq, Abdullah Shafique, Mohammad Rizwan (w/k), Saud Shakeel, Iftikhar Ahmed, Salman Ali Agha, Mohammad Nawaz, Usama Mir, Haris Rauf, Hasan Ali, Shaheen Afridi and Mohammad Wasim.South Africa: Temba Bavuma (c), Gerald Coetzee, Quinton de Kock (w/k), Reeza Hendricks, Marco Jansen, Heinrich Klaasen, Andile Phehlukwayo, Keshav Maharaj, Aiden Markram, David Miller, Lungi Ngidi, Kagiso Rabada, Tabraiz Shamsi, Rassie van der Dussen and Lizaad Williams.When and where to watch the Pakistan vs South Africa match? The Pakistan vs South Africa match will air live on Indian television via Star Sports channels. Indian viewers can also enjoy free live streaming of these matches on the Disney+Hotstar app and website. Social media giant Meta has also partnered with the ICC for World Cup 2023 coverage on Instagram, WhatsApp, Facebook and Threads.

Wonderla Holidays shares surged by 10% in today's trading session, reaching a historic high of ₹887 per share. This significant increase came after the company received all the necessary approvals, clearances, and no-objection certificates (NOCs) from the Government of Tamil Nadu for its Chennai project. With these key permissions now in hand, Wonderla is set to commence construction on this project.

CBRE, the Industrial & Logistics (I&L) sector is likely to touch a 5-year high absorption mark and touch 36 – 38 million sq ft in 2023 across the top 8 cities in India. “With the surge in quality supply additions, robust festive demand, and the completion of pent-up projects, we anticipate the overall absorption to touch a 5-year high, reaching an impressive 36-38 million square feet by the end of 2023. The active participation of larger developers backed by institutional funds, contributing around 40% to the completed projects, underscores the sector's growth potential,” said Anshuman Magazine, Chairman & CEO — India, South-East Asia, Middle East & Africa, CBRE.

Exponent Energy is set to shortly close its first funding round in more than a year by raising $25 million at a valuation of $100-120 million, multiple people briefed on the development said. The round will be led by Fidelity-backed global investor Eight Roads, which has invested in Indian startups such as Pharmeasy, Whatfix, Shadowfax and Icertis. Exponent Energy’s existing investors including Lightspeed India and AdvantEdge VC will also take part in the round, the people cited above said.

₹1.15 lakh ex-showroom in Bengaluru and Chennai (it’s priced at ₹1.20 lakh ex-showroom in other cities) as it looks to ramp up sales to 10,000 units a month, after having slashed the price from ₹1.45 lakh to ₹1.30 lakh just a couple of months ago. TVS Motor Company, which sells the popular iQube electric scooter, is advertising festive offers worth ₹10,000, including cashback. Hero MotoCorp's Vida V1 comes with benefits worth up to ₹21,000 including a ₹2,000 cash discount.

Ajay Jadeja, who is currently the mentor of the Afghanistan cricket team, celebrated their historic victory over Pakistan in the ICC World Cup on Monday. The Afghans achieved their first-ever ODI win against Pakistan by successfully chasing a target of 283 runs at the MA Chidambaram Stadium in Chennai. As the winning runs were scored, the Afghanistan team's dugout erupted with joy. Ajay Jadeja, dressed in Afghanistan's jersey, was seen exchanging hugs and smiles with the players.

₹50,000 in incremental tranches. As per the report around 70 lakh loans disbursed to date, benefiting over 53 lakh street vendors, with a total value exceeding ₹9,100 crore. The scheme provides loans in three tranches (1st Term loan up to ₹10,000; 2nd term loan up to ₹20,000 and 3rd term loan up to ₹50,000).

ICC World Cup 2023: It will be unfair to Afghanistan if we call their 8-wicket victory against Pakistan another big upset in the current edition of the World Cup. Hashmatullah Shahidi-led side is known for their sharp bowling, especially spin, but today the team displayed the quality of batting on the slow pitch of Chennai and punished Pakistan bowlers like never before. Now, we had expected that Pakistan bowling may face problems on the pitch of Chennai as their spinners were not that effective in the ICC World Cup 2023, but chasing a target of 282 on the pitch of Chennai is a mountainous task for any batting order.

K Annamalai on Monday demanded an apology from the DMK party over the insulting of Tricolour outside Chepauk Stadium. Citing a media report, Annamalai alleged that police deployed outside the cricket stadium were restricting fans from carrying Indian flags inside the stadium. In a post on X, K Annamalai said, «Udhay Stalin had problems with the Jai Shri Ram chant during the Cricket match against Pakistan, having forgotten the treatment meted out to our players in Pakistan in the past.

Cello World Ltd is set to launch its Rs 1,900-crore initial share sale for public subscription on October 30. The maiden public issue will conclude on November 1 and the anchor book of the offer will be opened for a day on October 27, according to the red herring prospectus. The issue is a complete offer for sale (OFS) by promoters and other selling shareholders with no fresh issue of equity share component.

Indian Railways is set to operate nearly 300 special trains, making a total of 4,480 trips, in order to cater to the increased demand during the festive season, including Durga Puja, Diwali, and Chhath. The announcement of 283 special trains was made by Union Railway Minister Ashwini Vaishnaw. According to the details shared by the minister, South Central Railway will run 58 trains, making a total of 404 trips.

World Cup 2023 match at MA Chidambaram Stadium, Chennai. It would be the fifth match of both teams in the ICC ODI World Cup 2023. Pakistan are in the 5th spot with four points in the World Cup 2023 team table and Afghanistan is at the bottom of the table with two points.

Voltas has revived its plans to manufacture air-conditioner compressors in the country with a partner from either Japan or Korea after its earlier such joint venture proposal with China's Highly International was rejected by the government, a top executive has said. The Tata-owned home appliance manufacturer has lined up investments of over Rs 1,300 crore for manufacturing, which include components like compressors, expansion of capacity, and manufacturing of newer home appliances, its managing director and CEO Pradeep Bakshi said. «The compressor project is still on, and we are looking at other partnerships,» he said. «The company is on an investment spree on new factories apart from backward integration.» The compressor project will involve investment of over '350 crore.

PTI said on Sunday. The capital infusion would be based on the financial performance of the general insurers in nine months, the report also said. According to the PTI report citing sources, the finance ministry last year asked three insurers to chase bottomlines rather than topline and underwrite only good proposals.

JSW Energy Q2 results:JSW Energy released its July-September results on Friday and the company reported an 83% year-on-year rise in the net profits which rose from ₹466 crore in Q2FY23 to ₹850 crore during the quarter under review. The revenue of the company increased 30% YoY to ₹3,387 crore in the quarter ending September 2023 from ₹2,596 crore during Q2FY23.