City Chennai Financial News

IndusInd bank reached a settlement and have withdrawn insolvency litigations. "Coffee Day Global and IndusInd bank told the Chennai bench of National Company Law Appellate Tribunal (NCLAT) on September 13 that they have reached a settlement and that the two parties have withdrawn insolvency litigations. NCLAT took their submissions on record and set aside the order admitting Coffee Day Global to insolvency," Moneycontrol reported.

IndiGo will soon wear a wrist gadget and use a ground device to detect fatigue and check their alertness level before and after their flights. The airline will start this experiment in collaboration with French aerospace conglomerate Thales group to collect data and use it to make flight patterns and roster which are reduces tiredness of their pilots, The airline will also on board a sleep researcher who will work on its fatigue management system, according to an internal memo reviewed by ET. “After six years of research, they have developed a fatigue detection model, offering detailed insights into demographic data, including routes, pairings, crew profiles, and more, going beyond traditional scheduling- models. “IndiGo will conduct a proof-of-concept trial for their technology-driven interface to assess pilot alertness levels over the next few months. Once completed, we will collectively evaluate the efficacy and accuracy of the data,” Ashim Mitra, senior vice president of Flight Operations wrote in a note to pilots. However IndiGo will continue the existing system where pilots can ask for removal from duty when they feel tired. Initially, the ground devices will be set up at large bases of IndiGo like Delhi, Mumbai, Bengaluru and Chennai where pilots will undergo a five minutes test.

₹58,550 per 10 gm on Multi Commodity Exchange (MCX), and went on to hit an intraday high of 58,556, and a low of ₹58,533. Around 9.20 a.m., MCX Gold for October 5 delivery traded 0.15 per cent lower at ₹58540 per 10 grams. Silver price today opened at ₹71,750 per kg on MCX and went on to hit an intraday high of ₹71,750, and a low of ₹71,380.

Reliance Retail Ltd, said. Prasad, however, did not share the timeline of the stores expansion plan. In July 2022, Reliance had signed long-term partnership agreement with Gap Inc., to launch the American fashion brand in India.

Enforcement Directorate is currently conducting searches at around 10 locations in Tamil Nadu as part of investigations into cases linked to the local sand mafia. ANI reported that the ED is conducting raids on a close aide of Tamil Nadu Minister Senthil Balaji, who is an accused in an alleged cash-for-jobs scam. “Around 10 premises of the unnamed aide of the minister are being raided in Tamil Nadu," ED sources told ANI.

Enforcement Directorate is conducting raids on a close aide of Tamil Nadu Minister Senthil Balaji, who is an accused in an alleged cash-for-jobs scam, ED sources said on Tuesday. Around 10 premises of the unnamed aide of the minister are being raided in Tamil Nadu, sources said, adding more details are awaited. Balaji was arrested by the ED officials on June 14 in connection with the cash-for-jobs scam. He was produced in the MP/MLAs Special Court in Chennai. The special court for MP/MLAs has extended Balaji's judicial custody till September 15.

AR Rahman's recent concert sent shockwaves through Chennai as it brought East Coast Road (ECR) to a standstill, prompting an urgent inquiry into the mayhem by DGP Shankar Jiwal. Notably, even Chief Minister M K Stalin's convoy was ensnared in the traffic snarl, adding to the urgency of the situation.

Made in India iPhone 15 just weeks after the smartphones start rolling out from the Chinese factories. The assembly of iPhones in India will help Apple broaden its manufacturing beyond China. According to a Bloomberg report, a facility operated by Foxconn Technology Group in Sriperumbudur, Tamil Nadu is gearing up to dispatch the latest iPhone units shortly after their initial rollout from Chinese factories.

upcoming Cricket World Cup 2023 has been building up for some time. Fans across India are hoping that ‘conservative’ India can lift the trophy after 12 years on home soil. India triumphed over Sri Lanka in the 2011 Cricket World Cup.

Westlife is set to enthrall fans in India as the band travels to the country for its much-anticipated "The Wild Dreams" Tour this November. The global best selling pop band, consisting of Nicky Byrne, Kian Egan, Shane Filan and Mark Feehily, will perform live in Mumbai, Bengaluru, Delhi as part of the India leg of the «The Wild Dreams» Tour. The show is brought to India by BookMyShow Live. The tour will kick-off at the Members Enclosure, RWITC, Mahalaxmi Racecourse, Mumbai on November 24, followed by Embassy International Riding School Ground, Bengaluru on November 25 and culminate at the Jawaharlal Nehru Stadium in New Delhi on November 26, 2023. «India has always held a special place in our hearts. We are so excited to share The Wild Dreams tour with all of our fans in India. Get ready for an unforgettable night of music and memories with us!» Westlife said in a statement. During the concerts, the group is expected to perform their greatest hits including «Swear It Again», «If I Let You Go», «Uptown Girl» and «Hello My Love» as well as fresh pop anthems such as «Star Light» and «Alone Together» from the 2021 special-edition studio album «Wild Dreams», released to critical acclaim. The global pop sensation kicked off the tour in 2022 performing across the UK, including a sold-out headline show at London's iconic Wembley Stadium.

ChatGPT to plan their itinerary, and then visiting travel agents to book their flights and holidays. Scoot currently flies to six destinations in India and plans to resume operations to Chennai from 5 November. It also seeks to tap the potential in other Indian international airports, such as the upcoming airports in Jewar and Navi Mumbai.

LuLu Group International Yusuff Ali on Monday said his group is going to set up two large shopping malls in India — Ahmedabad and Chennai. Speaking to ANI, Ali said, «We are going to construct one of the largest shopping malls in Ahmedabad and Chennai and we are opening our shopping mall in Hyderabad end of this month. Also we are going to different states for shopping malls and food processing.» Hyderabad will be the sixth city after Kochi, Thiruvananthapuram, Bengaluru, Lucknow, and Coimbatore where the group has its shopping mall presence. Lulu Group, headquartered in Abu Dhabi, UAE, has been known as a trendsetter in the retail industry in the Middle East and North Africa region.

New Delhi: Air India on Monday said that it has deployed specially trained service assurance officers at 16 major Indian airports to offer on-ground assistance, aimed at elevating airport experience by providing personalised and hassle-free on-ground services to Air India to its passengers. “Flying is a wonderful experience, and we want our guests to enjoy it in the most seamless ways possible.

SAMHI Hotels will open on Thursday, September 14, for subscription and closes on Monday, September 18. The public issue of face value of Rs 1 per equity share comprises a fresh issuance of equity shares worth Rs 1200 crore and an Offer for Sale (OFS) of up to 13.50 million equity shares. SAMHI Hotels has fixed the price band at Rs 119 to Rs 126 per equity share for its maiden public offer. Investors can bid for a minimum of 119 equity shares and in multiples of 119 equity shares thereafter. Ahead of the IPO, Madhuri Madhsudan Kela, along with Nuvama Crossover Opportunities Fund and TIMF Holdings have picked up stake in Gurugram-based SAMHI for a total consideration of Rs 130 crore from Blue Chandra Pte Ltd. As per disclosures made by SAMHI last week, selling shareholder, Blue Chandra Pte.

Despite rising property prices and interest rate hikes in the last one year and more, demand for mid-range and premium homes remains high. The ANAROCK Consumer Sentiment Survey (H1 2023) indicates that at least 59% of the 5218 survey participants will buy mid-range and premium homes (priced from Rs 45 lakh to Rs 1.5 crore). This is a 10% sentiment increase for homes in this budget category over the survey’s H1 2020 edition.

Project Samudrayaan. As per a TOI report, this ambitious project aims to plunge three individuals 6,000 meters beneath the ocean's surface in a homegrown submersible, all in the pursuit of precious metals and minerals, notably cobalt, nickel, and manganese. Dubbed «Matsya 6000,» this submersible has been in development for nearly two years and is now primed for its inaugural sea trials, slated to unfold in early 2024 off the Chennai coast in the Bay of Bengal.

JLL India. Real estate consultant JLL India on Monday released its report 'India Retail: Evolving to a new dawn' that highlighted the operational retail real estate space in shopping malls stood at 89 million square feet. The operational retail stock as of H1 2023 in the top seven cities (Delhi-NCR, Mumbai, Pune, Bengaluru, Kolkata, Chennai, and Hyderabad) stands at 89 million square feet as of June-end this year. Out of the total retail stocks in malls, Delhi NCR has the maximum 28 million square feet, followed by Mumbai with 17 million square feet and Bengaluru 14 million square feet. «The physical retail space segment has an expected supply pipeline of over 38 million sq ft of retail developments between H2 2023 and 2027, across the top seven cities,» JLL said.

Awfis Space solution has added 11 new properties totaling 8,000 seats across major markets in South India as it looks to strengthen its foothold in the growing flexible and managed office space in the country. The firm has signed prime properties across Bengaluru, Hyderabad, Chennai, and Kochi with the region contributing around around 45% of the company's portfolio. Amit Ramani, CEO and Founder, Awfis, said, «The region presents numerous opportunities through its expanding real estate landscape. This expansion aligns with our strategic approach to target emerging business hubs, offering an enhanced workspace experience through our diverse range of products and services.

AR Rahman’s Chennai concert ‘Marakkuma Nenjam’ faced a huge controversy after innumerable fans accused the organisers of mismanagement. The concert also made news for the wrong reasons as the authorities failed to control a stampede, and many fans were made to wait outside the venue due to a lack of adequate seating arrangements. The music icon finally opened up about the fiasco.

Basilic Fly Studio debuted at a robust premium of 179% on the NSE Emerge platform. On listing, the stock rallied further 5% and was locked in upper circuit at Rs 284. The company has priced the issue at Rs 97 at the upper end. The debut of Basilic Fly Studio was on the expected lines, tracking the recent trend of massive listing gains in the SME segment. The Chennai-based VFX studio's Rs 66 crore IPO saw a subscription of 286 times, led by strong demand across categories.

equity market benchmarks the Sensex and the Nifty have been in the green in September so far. Both indices are up over 3 per cent this month so far and analysts expect them to hit their all-time highs soon. However, the ongoing rally may not be sustained as the fundamentals are not supportive at this point.