City Chennai Financial News

Residential price growth across the 107 world cities has slowed in Q2 2023, falling to 1.7% YoY from 11.7% YoY in Q2 2022, according to Knight Frank’s latest report ‘Global Residential Cities Index Q2 2023’. This is recorded to be lower than that experienced in the first wave of the pandemic, when growth reached a low of 2.9% in Q2 2019.

INDIA bloc parties raised the pitch for early implementation of women's reservation in Parliament and legislatures at a conference in Chennai on Saturday. Speaking at the Women's Rights Conference, organized by DMK's women's wing, former Congress president Sonia Gandhi said, «The Women's Reservation Bill was introduced by the UPA government at the Centre and was passed in Rajya Sabha. We could not pass it in Lok Sabha because of lack of consensus.

Sagar Kavach' involving all maritime security agencies was conducted by the Indian Navy in Andhra Pradesh, Tamil Nadu and Puducherry this week. The exercise, held on Wednesday and Thursday was executed under the aegis of the Flag Officer Commanding-in-Chief Eastern Naval Command, FOCINC (East) who also exercises the authority of Commander-in-Chief, Coastal Defence (East).

Flutrr intends to deploy the newly acquired funds to expand its user base to 5 million and achieve a monthly revenue of Rs. 100 lakhs, positioning itself as a highly profitable enterprise. Small-town India, colloquially known as "Bharat", boasts around 500 million youth who lack English fluency.

ITC has turned a new leaf in recent years, as its strategy to derive higher revenue from its consumer business is bearing fruit, bit by bit. Registered in Calcutta as the Imperial Tobacco Company, the FMCG major has always relied on its cigarettes and leaf tobacco business for a major chunk of its revenues. ITC’s true diversification move might have begun with the launch of its hotel in Chennai in 1975, including a failed attempt at the financial services business, but it wasn’t until August 2001 that the tale of the FMCG behemoth came to be. Having relied on its cigarette business since 1910, ITC has increasingly sought to earn more from its ‘cleaner’ consumer goods products.

Indian Railways is gearing up launch of Vande Bharat sleeper trains early next year and the first prototype will be made ready by BEML soon. BEML is developing the first sleeper Vande Bharat Train with the Integral Coach Factory (ICF), Chennai. Earlier this month, Railway Minister Ashwini Vaishnaw had shared images of the Vande Bharat trains sleeper (concept version).

The Reserve Bank of India had recently announced the withdrawal of Rs 2,000 notes from circulation. The public was asked to deposit the notes and the deadline was also extended. The extended deadline for exchanging or depositing Rs 2,000 notes was October 7, 2023. After the deadline, the central bank had stated that exchange of notes will not be allowed.

Tamil Nadu government announced an increase in tax rates for new two-wheelers, cars, and other vehicles. As per a TOI report, this move is expected to raise the overall cost of vehicles in the state.

Chennai: When India Cements Ltd (ICL) announced on 21 September that it had sold 73.75 acres of land in Andhra Pradesh’s Vizianagaram district to rival UltraTech Cement Ltd for ₹70 crore, it surprised long-term cement industry watchers. After all, N. Srinivasan, vice-chairman and managing director of Chennai-based ICL, had in the past been at the forefront in thwarting any attempts by national cement players such as Gujarat Ambuja or UltraTech from entering or expanding into south India.

embedded technology company, embedUR Systems, is ramping up its presence in India with an investment of Rs 500 crores in Chennai over the next five years, the company's founder and chief executive Rajesh Subramaniam said in a media interaction on Wednesday. “Chennai’s strategic geographical positioning along with the availability of the vast engineering talent provides it with an immense potential to develop into a Global Embedded Systems Hub and become a key player in providing cutting-edge embedded technologies and transforming industries across the world," he said.

Werks – Iron Mountain data centres joint venture has acquired a four-acre land in Ambattur, Chennai, to house two new data centers (CHE-1 and CHE-2) to meet growing customer demand in the region. The two data centers will be built to Tier III standards. They will support 36 megawatts of IT load, further enhancing the company’s rapidly growing pan-India footprint, which will support more than 90 megawatts of new development across the key markets of Pune, Bengaluru, Noida, Mumbai and Hyderabad. “As Chennai is one of India’s most important connectivity hubs, we are thrilled to be building capacity to meet hyperscale, network, content, public sector undertakings and enterprise customer demand,” said Mark Kidd, EVP & Global General Manager, Iron Mountain Data Centers & Asset Lifecycle Management. Chennai is emerging as one of India's fastest-growing data center markets due to its strong interconnection with Singapore and the rest of Asia.

National Investigation Agency (NIA) has increased to 18 branches across the country from nine in 2019, when Amit Shah took charge of the Union home ministry, while proposals for 10 more branches are pending with the ministry, said officials. The manpower for the NIA has also been enhanced, as the ministry recently approved creation of one post of additional director general and six new inspector generals of police for the agency, they said.

earlier reported by Cricbuzz that he had been admitted to a Chennai hospital. He was still under the watchful care of the hospital's medical professionals under the observation of Dr. Rizwan Khan, the designated doctor appointed by the Board of Control for Cricket in India (BCCI) to accompany the team, the publication added.

multibagger stock between July 2023 and September 2023. Let’s find out why… Dolly Khanna is a Chennai-based investor, who is known for picking lesser-known midcaps and smallcaps. She has beeninvesting in stocks since 1996.

Shubman Gill on Tuesday was discharged from hospital after he was admitted due to drop in platelet count below 100,000 owing to Dengue. However, he is still unlikely to mark his presence in the marquee World Cup clash against Pakistan in Ahmedabad on October 14, reported PTI. Gill, who tested positive for dengue upon his arrival in Chennai last week has been down for the past week and will also miss India's second game against Afghanistan on Wednesday.

Shubman Gill, who is currently down with dengue, has been hospitalised in Chennai after his platelet count dropped below 100,000 and remains a doubtful starter for the marquee World Cup clash against Pakistan in Ahmedabad on October 14. Gill, who tested positive for dengue upon his arrival in Chennai last week has been down for the past week and will also miss India's second game against Afghanistan on Wednesday. «Shubman Gill was on drip at the Chennai team hotel for the last couple of days.

Zoho Corporation expects India to become the company's largest market in the next decade, driven by the country's rapid growth and demographic dividend. «India is the fastest growing market. Even when I reported the September slowdown, our fastest growth is in India. That's very helpful. But globally, there is a substantial slowdown particularly you are seeing in the US...,» said Sridhar Vembu, founder and chief executive of the Chennai-based firm. India is currently the third-largest market for Zoho after the US and European Union.

₹38.99 crore, the insurance firm said in its BSE filing on Monday. “The Company has received a Show Cause Cum Demand Notice from the Directorate General of GST Intelligence, Mumbai Zonal Unit under Section 74(5) of the Central Goods and Services Tax Act, 2017 (“the Act"), October 6, 2023 alleging a tax demand of ₹ 38,99,77,849," said the company in its BSE filing. The company shares closed 2.11% lower at ₹582.55 per share on BSE on Monday.

Web Werks and Iron Mountain Data Centers will invest Rs 1,800 crore to set up two data centres in Chennai. The JV has acquired a four-acre parcel of land in Ambattur, Chennai, to house these data centers (CHE-1 and CHE-2). «Joint Venture of Web Werks — Iron Mountain Data Centers will invest more than Rs 1,800 crore to develop two data centres in Chennai. The investment will be made in a phased manner and be fully operational by the mid of 2025,» Web Werks Data Centers founder and CEO Nikhil Rathi said in a statement on Monday.

Zainab Abbas, part of the ICC digital team covering the ODI World Cup, on Monday left India after facing backlash on social media over her alleged anti-India posts in the past but the sport's governing body insisted that she left the country due to personal reasons. Zainab left India from Hyderabad where she was deputed to cover Pakistan's three World Cup games in the city.

Mint is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest financial insights! Click here! Nasser Hussain, another prominent figure in England's cricketing annals, traces his roots back to Madras (now Chennai), India. Aged 7 when his family relocated to England, Hussain went on to don the English colours from 1989 to 2004.