City Chennai Financial News

IRDAI has mandated the Committee on Common Empanelment Process of Hospitals and 100% Cashless to submit a report on implementing fully cashless medical-insurance settlement in hospitals across the country. Currently, cashless settlement is available in 49% of the hospitals, numbering around 25,000. Around 400 million medical-insurance policyholders are likely to benefit once the plan is implemented. In the wake of recent clashes between insurance companies and hospitals, IRDAI has been exploring ways to resolve such incidents. According to an order issued by the General Insurance Council (GIC) secretary general Inderjeet Singh dated August 1, the committee will provide weekly updates, with an aim to introduce nationwide cashless settlement by the end of October.

New Delhi: India’s largest airline IndiGo has signed a codeshare partnership with UK flag carrier British Airways InterGlobe Aviation-promoted IndiGo currently has codeshare partnerships with Turkish Airlines, Qatar Airways, Qantas, Virgin Atlantic, KLM, American Airlines, and Air France. Under a codeshare agreement, airlines agree to sell seats in each other's flights in order to provide their respective customers a wider network. With this codeshare partnership with IndiGo, British Airways will now be able to add three additional routes to their existing network, including Rajkot to London Heathrow via Mumbai, Vadodara to London Heathrow via Mumbai and Thiruvananthapuram to London Heathrow via Mumbai.

Times of India. Lokesh Kumar, the 29-year-old who has been working in the food delivery industry since 2018, was handpicked by the Dutch team as one of the four net bowlers. As per the report, Lokesh was selected after the Netherlands management assessed about 10,000 bowlers from India.

Candlelight Concerts to India, kicking off with performances in tribute to Taylor Swift’s greatest hits, Vivaldi’s Four Seasons, British bands Queen and Coldplay, as well as the Japanese composer Joe Hisaishi. The expansion into the region comes on the heels of the experience’s success, having delighted audiences in more than 150 cities worldwide, including New York, London, Madrid, Singapore and Tokyo.Audiences who would like to be the first to know about the local venues and music programs kicking off the series can sign up on each city’s page at feverup.com.

Everest Fleet has raised Rs 50 crore (around $6 million) from private equity firm Paragon Partners, as it looks to accelerate growth and expand into new markets. The equity investment into Everest Fleet has come just a month after it raised an undisclosed amount of debt from mid-market-focused alternative investment fund Arka Credit Fund I, by issuing non-convertible debentures.

Royal Enfield Rental will be accessible in cities such as Ahmedabad, Mumbai, Gujarat, Maharashtra, Chandigarh, Dharamshala, Leh, Manali, Haridwar, and Rishikesh. Additionally, the manufacturer will extend its motorcycle rental services to Udaipur, Jaipur, Jaisalmer, Goa, Kochi, Bhubaneswar, Thiruvananthapuram, Visakhapatnam, Delhi, Chennai, Bengaluru, Hyderabad, Shimla, Nainital, Bir Billing, Siliguri, and Dehradun. The company says that it intends to include more cities to this roster as part of its expansion plans.

Narendra Modi is likely to flag off nine Vande Bharat express train on Sunday i.e. on 24 September, ministry officials told News18. Among these nine trains, the Indian Railways is set to launch two trains for West Bengal’s Howrah and Tamil Nadu’s Chennai while one each for Kerala, Odisha, Telangana, Gujarat and poll-bound Rajasthan.

Rajkumar, was soon shocked to discover that this was not a hoax but an error made by the bank. In a whirlwind of events, he managed to transfer Rs 21,000 to a friend before the colossal sum was promptly withdrawn by the bank, all within a span of just 30 minutes. Hailing from Neikkarapatti village near Palani, Rajkumar had rented a room in Kodambakkam, where he lived with fellow taxi driver friends.

West Coast Paper Mills climbed 4% to Rs 697 in Thursday's trade on BSE after the firm said that it has received preliminary verbal approval from the National Company Law Tribunal (NCLT), Chennai Bench, for its resolution plan submitted to acquire Uniply Decor. «Our consultant, Lagrange Point Advisors LLP, an investment banking firm based in Mumbai, informed us that the resolution plan to acquire Uniply Decor has been approved verbally by the Chennai Bench of the NCLT. The approval has been received under the provisions of Insolvency and Bankruptcy Code, 2016,» West Coast Paper Mills said in an exchange filing. The resolution plan, submitted by West Coast Paper Mills Ltd and previously approved by the Committee of Creditors of Uniply Décor Ltd, marks a crucial step towards the company's expansion and diversification efforts. At 11.04 a.m., the scrip was trading 3.4% higher at Rs 693 on BSE.

₹59,3155 per 10 gm on Multi Commodity Exchange (MCX), and went on to hit an intraday high of 59,315, and a low of ₹59,004. Around 10:05 a.m., MCX Gold for October 5 delivery traded 0.60 per cent lower at ₹59050 per 10 grams. Silver price today opened slightly higher at ₹72,970 per kg on MCX and went on to hit an intraday high of ₹72,970, and a low of ₹72,195.

₹280 to ₹300 per equity share of face value of ₹10. Updater Services IPO floor price is 28 times the face value of the equity shares and the cap price is 30 times the face value of the equity shares.

digital payment providers within its app in India, the latest bet by the Meta Platforms Inc.-owned service to boost commerce offerings in its biggest market. WhatsApp has more than 500 million users in India, though regulators there have capped its in-app WhatsApp Pay service to only 100 million people.

pharmaceutical companies to implement revised Good Manufacturing Practices (GMP) to improve quality in the face of children said to have died from toxic cough syrup and eye drops that allegedly caused infections. The notification is likely this month, people in the know told ET.

New Delhi: Bengaluru-based fintech firm Perfios has acquired Chennai-based open finance platform Fego.ai, two people aware of the development told Mint. The discussions started during Global Fintech Fest 2023 in Mumbai recently. The deal was closed this week.

Narendra Modi is set to flag off the Tirunelveli – Chennai Vande Bharat Express Train on Sunday via video conference. The first train will reportedly leave from Tirunelveli Junction around noon and reach the capital city in about 7.5 hours. The train will arrive at its starting location on Thursday for mandatory trials ahead of the launch event.

₹400 crore and an offer for sale (OFS) of up 8,000,000 equity shares of face value of ₹10 each by a promoter and others. Promoter Tangi Facility Solutions Private Ltd will offload 40 lakh shares in the IPO and two private equity funds, India Business Excellence Fund-II and India Business Excellence Fund–IIA, will sell 8 lakh and 32 lakh shares, respectively.

As weekends approach, more and more people are opting for road trips using services like Zoomcar, DriveU, and QuickRide during the period leading up to the festive season. Simpl, a payment platform, has reported that the number of bookings on these merchant platforms, made through its one-tap checkout, has doubled in August this year compared to the same time in 2022. Reportedly, out of the different ways to travel, more and more people are choosing to rent self-driven cars.

Jio AirFiber – could create a whopping $4 billion to $9 billion annual revenue opportunity if it sees wide acceptance of around 50-to-100 million homes, say analysts. They added that the current pricing of Jio AirFiber is not disruptive versus competition as rival Bharti Airtel’s comparable 100 Mbps 5G-FWA offering is at a 12% discount, albeit without digital channels and OTT apps. While Airtel’s FWA service is at a 33% premium to Jio AirFiber’s base plan of Rs 599 a month, it offers faster speeds of 100 Mbps compared to 30 Mbps on Jio’s. “Jio has ambitious plans with Jio AirFiber, with a target of 200 million homes…if there is wide acceptance of 5G FWA with bundled home entertainment services, it could be a significant revenue opportunity, especially as (home) broadband average revenue per user (ARPU) at Rs 600, is 3-4x higher vs mobile,” brokerage CLSA said in a note. A 5G-based FWA service uses airwaves instead of cables/fibre to provide fixed broadband access, using a next-gen mobile broadband technology.

climate tech startup Aurassure has raised Rs 4 crore in a seed round led by Unicorn India Ventures. The funds will be deployed to strengthen product capabilities by creating a data analytics team, acquiring product certifications for international scaling, and sales team expansion for growing reach to multiple cities, it said in a statement.

Asus has announced plans to relocate key component suppliers from its primary manufacturing hub in China to India. The company is collaborating with contract manufacturer Flex to establish a new factory in Chennai, capitalizing on the government's revamped Rs 17,000-crore production-linked incentive (PLI) scheme for IT hardware. With a market valuation of $15 billion, Asus aims to aggressively expand its production operations in India, relying on the government's PLI scheme.

MUMBAI — NCC is one of the largest listed construction companies in India in terms of revenue, with a well-diversified portfolio comprising buildings, transportation, water and environment, irrigation, electrical (T&D), mining and railways.