City Chennai Financial News

Updater Services, a provider of facility management services to corporates, plans to raise ₹640 crore from its initial public offering (IPO). Of this, ₹400 crore will be raised from fresh issuance of shares that would be deployed to repay loans and enhance its working capital and the balance includes an offer of sale (OFS) by promoters and a private equity investor.Promoter holding will drop to 58.5% after the IPO from 80.5%.

Ana Rodriguez. India accounts for 11% of Lladro's global sales. The company generates 69% of its business from heritage concept (high porcelain, classic sculptures, home and licences), 21% from new concept (design sculptures, scent and jewellery), and 10% from lighting. Lladro will also have an «important» investment plan for developing online sales in the country next year, besides launching more mono-brand stores in the country, according to Rodriguez. With the new boutique, Lladro now has eight own-brand stores in India in markets such as New Delhi, Gurugram, Mumbai, Bengaluru, Hyderabad, Chennai and Kolkata. «For us, India is not only a key market but a very strategic market,» Rodriguez told ET.

immigration facility at the Puducherry port, regional oil spill response centres in five states and removing submarine oil and gas pipelines in Mumbai are among the requests from state maritime boards that are being considered by the Centre. Most state government-controlled maritime boards want improved support for their ports along with better facilities to help them gain more cargo and passenger volumes. “Calls for financial incentive to encourage shift of cargo from road or rail to coastal shipping also figure on the list of demands,” a top government official aware of such requests told ET. Meanwhile, the Centre has flagged some concerns.

NEW DELHI, MUMBAI : The race to dominate the electric vehicle (EV) market has triggered a dash for talent, as automakers and others in the ecosystem seek out experienced professionals to develop capabilities in green mobility. Industry executives said that companies are trying to attract and retain professionals skilled in battery management systems, fuel cells and core engineering with pay hikes, retention bonuses and counter-offers. Leading Indian automakers are introducing new EV models, and startups are coming up with innovative electric mobility solutions, even as the government works to reduce carbon emissions.

NEW DELHI : India expects to sign investment pacts worth ₹10 trillion during the Global Maritime India Summit in New Delhi slated for 17-19 October, Union minister for ports, shipping and waterways Sarbananda Sonowal said. In an interview, Sonowal said India is in talks with Russia to operationalize the recently proposed route of Chennai to Vladivostok, potentially reducing the maritime journey between the two countries to a mere 12 days. The development will facilitate trade between the two countries by providing a faster and cheaper way to transport oil.

Celebi India may invest around USD 80 million in the business in the next four years as it eyes more airports besides enhancing cargo capacity, a top company executive has said. The company, which offers ground handling services and cargo operations, also plans to switch to an all-electric fleet across the airports it renders services at present, according to Murali Ramachandran, President for India & S-E Asia at Celebi Aviation Holdings, said. The company currently has the mandate to provide ground handling services at nine airports — Delhi, Mumbai, Chennai, Bengaluru, Hyderabad, Cochin, Ahmedabad, Mopa (Goa) and Kannur — and handle cargo operations at Delhi airport through a joint venture with Delhi International Airport Ltd (DIAL). «Celebi has already invested around USD 250 million (since its entry in the Indian market in 2007).

Nijjar killing episode had lately led to some speculations regarding the flow of masur dal (red lentils) into India as Canada happens to be one of the main sources for its import. According to a September 24 ToI report, though, the Indian government so far is “comfortable” as far as the import of this item is concerned. Nearly lakh tonnes of it have arrived at Indian ports amid the ongoing diplomatic tiff, ToI said citing officials. “Against our annual consumption of 23 lakh tonne of lentils, the domestic production is around 16 lakh tonne.

Vande Bharat Express: PM Modi flags off 9 semi-high speed trains across 11 states PM Modi further noted, “Speed, the scale of infrastructure development is matching aspirations of 140 crore Indians...Today people of Rajasthan, Tamil Nadu, Telangana, Andhra Pradesh, Karnataka, Bihar, West Bengal, Kerala, Odisha, Jharkhand and Gujarat will get the facility of Vande Bharat Express trains. These new Vande Bharat Express trains depict the new energy of the country." Also Read: Mann Ki Baat: ‘India-Middle East-Europe corridor will become basis of world trade for years,’ says PM Modi The regular train service of the Vijayawada – Chennai – Vijayawada Vande Bharat Express will commence its operations on September 25.

Prime Minister Narendra Modi on Sunday flagged off nine Vande Bharat trains virtually in a move that is expected to significantly improve rail connectivity to religious and tourist destinations across 11 Indian states. «Speed, scale of infrastructure development is matching aspirations of 140 crore Indians,» PM Modi at the event he attended virtually. He added that popularity of Vande Bharat trains is rising constantly rising as over 1.11 crore passengers have already travelled in them. According to an official statement, these new Vande Bharat trains will be the fastest on their respective routes, ensuring passengers save a considerable amount of time during their journeys. «Now, 25 Vande Bharat trains running, now nine more added; that day is not far when these trains will connect all parts of country,» said PM Modi. «Under PM Modi's vision the railway sector has transformed in the past nine years… Several new facilities are being installed,» said Railway Minister Ashwini Vaishnaw at the event.Catch Live Updates of the Vande Bharat train launch here The routes on which these trains will operate are as follows:

Narendra Modi is all set to reveal the much-anticipated Tirunelveli — Chennai Vande Bharat Express Train. This high-speed train will link Tirunelveli and Chennai, making the journey more convenient for travelers. The inaugural event will be held through a video conference from New Delhi on Sunday, September 24. The Tirunelveli — Chennai Vande Bharat Express will set off from Tirunelveli Junction at 6 a.m. The train is expected to reach Chennai at 1.50 p.m. For the return journey, the train will depart from Chennai at 2.50 p.m. and arrive in Tirunelveli at 10.40 p.m. One of the main advantages of this new service is the reduced travel time. It will take less than eight hours to travel between Chennai and Tirunelveli, a significant improvement from the 11 to 12 hours it currently takes on regular express trains. The Vande Bharat Express comes with some impressive features:

Click here! Speaking about these trains, the statement says that as compared to the current fastest train along the route, Rourkela- Bhubaneswar – Puri Vande Bharat Express and Kasaragod - Thiruvananthapuram Vande Bharat Express will be faster by about 3 hours; Hyderabad – Bengaluru Vande Bharat Express by more than 2.5 hours; Tirunelveli-Madurai- Chennai Vande Bharat Express by more than 2 hours; Ranchi – Howrah Vande Bharat Express, Patna – Howrah Vande Bharat Express and Jamnagar-Ahmedabad Vande Bharat Express by about 1 hour; and Udaipur - Jaipur Vande Bharat Express by about half an hour. "In line with the Prime Minister’s vision to improve connectivity of important religious places across the country, Rourkela- Bhubaneswar – Puri Vande Bharat Express and Tirunelveli-Madurai- Chennai Vande Bharat Express will connect important religious towns of Puri and Madurai.

Narendra Modi is set to inaugurate nine Vande Bharat trains in a move that is expected to significantly improve rail connectivity to religious and tourist destinations across 11 Indian states. The inauguration will be conducted via a video conferencing session, in line with the Prime Minister's vision to enhance connectivity and provide top-tier facilities for rail passengers. According to an official statement, these new Vande Bharat trains will be the fastest on their respective routes, ensuring passengers save a considerable amount of time during their journeys. The routes on which these trains will operate are as follows:

Remember how WNS, Cognizant and Genpact emerged as individual tech giants from the stables of British Airways, Dun & Bradstreet and GE respectively?Internal information technology services arms of several large Indian conglomerates such as Shriram Group, auto parts giant Motherson Group, cigarettes-to-hospitality conglomerate ITC and Chennai-based TVS Group are now extending such services to third-party firms.Experts believe this is part of

₹84 crore). After the final match at Narendra Modi Stadium, Ahmedabad on 19 November, the winner will take away prize money of a total of $4 million (approx. ₹33 crore) while the runners-up will get $2 million (approx.

Sundaram Home Finance, the wholly-owned subsidiary of Sundaram Finance Ltd, has set a target of garnering 20 per cent growth in Andhra Pradesh and Telangana, a top official has said. The Chennai-headquartered company has strengthened its presence by opening a new office in Begumpet, Hyderabad, taking the total to six branches. The decision to step up presence comes in the backdrop of the company's plan to focus on Tier-II and III cities as a lot of growth was contributed from remote towns. «We believe there is a lot of potential for our home finance business in Andhra Pradesh and Telangana.

Vande Bharat Express: PM Modi likely to inaugurate 9 semi-high speed trains on 24 September. Check routes, other details A release by the Prime Minister's Office (PMO) noted, “The introduction of these Vande Bharat trains will herald a new standard of rail service in the country.

Hindustan Times. Ahamed was chosen as India's wildcard entry for the MotoGP Bharat Grand Prix in the Moto3 category and is on a Honda NSF250R at the ongoing event.

Kacheguda-Yesvantpur and Vijayawada-MGR Chennai Central Vande Bharat Express trains on September 24 using a video link. The PM will flag-off nine Vande Bharat trains across the nation, including the two services in the jurisdiction of the South Central Railway (SCR), headquartered at Secunderabad. A function will be held at Kacheguda Railway Station here simultaneously.

domestic flights and 6,960 international air traffic movements last month. Delhi, Bengaluru, and Chennai emerged as the top domestic destinations in August, while Dubai, London, and Abu Dhabi were the most preferred international destinations from the airport.

Oyo has added nearly 2,800 corporate clients during the January-July 2023 period, up 11.75% year-on-year (YoY), according to a report from the company titled 'Oyo Business Travel Trends Report 2023'. The report suggests the company recorded a 20% revenue growth from business travel in January-July 2023 against the year-ago period.

₹58,730 per 10 gm on Multi Commodity Exchange (MCX), and went on to hit an intraday high of 58,778, and a low of ₹58,729. Around 9.20 a.m., MCX Gold for October 5 delivery traded 0.08 per cent lower at ₹58776 per 10 grams.