City Chennai Financial News

Logistics and supply chain company, CCI Group on Thursday announced an additional investment of about Rs 640 crore in the development of a Grade-A logistics park at Polivakkam near.

Battery-as-Service (BaaS) firm, on Thursday announced the acquisition of Chennai-based energy storage solutions start-up Grinntech Motors & Services for an undisclosed sum. Integrating Grinntech's expertise in battery technologies, R&D, and manufacturing will enable Yuma Energy to build a vertically integrated BaaS ecosystem that encompasses battery design and production, intelligent charging units, a multi-city swapping network, technology-driven operations, and a seamless customer app, the company said.

CCI Group plans to invest more than Rs 640 crore to build more than 2 million sq ft warehousing capacity in the second phase of its upcoming logistics hub in Chennai. The fresh investment will increase total outlay by the integrated logistics and supply chain company in the facility to about 900 crore so far with the total capacity expanding to 3 million sq ft.

Subscribe to enjoy similar stories. Gurugram: On the night of 6 December 2024, when Indigo Airlines flight 6E 1032 touched down in Chennai from Kuala Lumpur, it unloaded an unusual piece of luggage: nearly 5,200 red-eared slider turtles huddled in boxes, each smaller than the size of a palm.

Subscribe to enjoy similar stories. Listed third-party logistics player Delhivery Ltd expects its one-month-old rapid commerce business to generate revenue in the range of ₹80-100 crore by the end of the current fiscal year, underscoring the growing demand for ultra-fast deliveries in India’s e-commerce landscape, co-founder and chief executive officer Sahil Barua, said on Friday. The Gurugram-based courier company rolled out Rapid Commerce, a sub-2-hour delivery service, in January.

Ford Motor Company, which announced its return to India last September, now appears to be pumping the brakes on those plans. The much-anticipated January announcement detailing Ford’s India strategy never arrived. Now, sources say, the American automaker is re-evaluating its move and will not reveal a final decision before late summer.

Margazhi Thingal' from the film 'Dominic and the Ladies' Purse,' produced by Mammootty Kampany, has sparked widespread curiosity about Sushmitha Bhat. Her captivating dance performance, marked by expressive eyes and fluid movements, has left audiences intrigued, as her expressions seamlessly shift between various emotions. So, who is Sushmitha Bhat and how did she pave her way to starring in a Mammootty film?

Agoda in Singapore, never imagined love would find her again after a decade-long relationship ended. But one spontaneous decision changed everything. What started as a casual swipe led to a whirlwind romance spanning two different countries proving that love can arrive when least expected.

Subscribe to enjoy similar stories. Chennai: As finance minister Nirmala Sitharaman dots the I’s and crosses the t’s of her speech she will deliver on 1 February, when she presents a record eighth consecutive budget, her biggest concern will be whether the proposals can dispel the clouds hanging over India, the world’s fastest-growing large economy. After the covid-19 pandemic, India experienced a scorching pace of growth for three years—on an average, the economy expanded by more than 8%.

₹875.5 crore from anchor investors.The ₹3,027.26-crore Dr Agarwal IPO, with a price band of ₹382 to ₹402 per share, will conclude on January 31.Dr Agarwal Healthcare IPO consists of a new issue of up to ₹300 crore along with an Offer For Sale (OFS) of up to 6.78 crore equity shares valued at ₹2,727.26 crore if priced at the highest point of the price range. Shareholders participating in the OFS include Arvon Investments Pte Ltd, Claymore Investments (Mauritius) Pte Ltd, and Hyperion Investments Pte Ltd.

Hyderabad are leading the charge for data centre investments as artificial intelligence is fuelling big expansion in the country with companies announcing huge plans recently, even as Chennai and Delhi-NCR remain the key markets.

Subscribe to enjoy similar stories. Bengaluru: Less than five weeks before the US trial of a six-year-old case begins to determine whether two former executives of Cognizant Technology Solutions Corp. (CTS) routed illicit payments through Larsen and Toubro Ltd to unnamed Indian government officials, it is unclear if an ex-Cognizant executive, the US government’s “essential witness" will travel to testify when the case starts on 3 March.

Indian Bank on Wednesday reported a 35 per cent increase in net profit at Rs 2,852 crore for the third quarter ended December 2024, helped by core income. The Chennai-based bank had earned a net profit of Rs 2,119 crore in the same quarter a year ago. Its total income increased to Rs 17,912 crore from Rs 16,099 crore a year ago, Indian Bank said in a regulatory filing.

Subscribe to enjoy similar stories. Dr. Agarwal’s Health Care, India’s largest eye care chain by revenue and network size, is going public with plans to raise ₹3,027 crore.

initial public offering of ₹3,027 crore comprising an offer for sale of ₹2,727 crore with the rest being a fresh issue that dilutes the promoter shareholding from 37.7% to 32.5%. Of the issue proceeds, ₹195 crore will be used to repay borrowings. Business: Incorporated in 2010, Chennai-based DAHC is India's largest eye care service chain run by fourth-generation ophthalmologists. It has the highest number of eye care facilities in the country at 193, and 16 in Africa which contributes around 10% of the total revenues. At the end of September 2024, the company had 737 doctors and earned 66% of its revenues from surgeries, 13% from diagnosis and non-surgical treatments and 21% through the sale of eye care-related products, opticals, contact lenses and accessories.

Alstom will be supplying traction components and other electrical equipment for Vande Bharat Sleeper trainsets. A company statement said Alstom has been awarded a contract worth €144 million (approximately Rs 1285 crore) for the crucial equipment used in 17 Vande Bharat Sleeper trainsets (408 cars/coaches). These systems will be supplied to Indian Railways’ Integral Coach Factory (ICF) in Chennai.

India vs England 3rd T20I LIVE Score: After winning the first two T20Is, the Indian team will aim seal the series in Rajkot in the third game against England on Tuesday. After steamrolling against the Jos Buttler-led side in Kolkata with much ease, the hosts needed a Tilak Varma magic to clinch a thriller in Chennai. All eyes will be on Mohammed Shami after the veteran pacer was declared completely fit by India's new batting coach Sitanshu Kotak.

Lufthansa flight from Chennai to Frankfurt in June 2023 has culminated in a ruling from a Chennai court, which penalised the airline for its deficient service. The series of incidents, which involved wet seats, delayed flights, mishandling, and poor customer care, not only disrupted their travel but also resulted in both emotional and financial distress.

Tamil Nadu Chief Minister M K Stalin on Sunday did not take part in the traditional 'At Home,' reception hosted by Governor R N Ravi on the occasion of Republic Day and he visited Madurai to participate in events to felicitate him for getting the Centre's tungsten mining initiative cancelled. In the function held at Raj Bhavan, leaders of opposition parties --the AIADMK, BJP, DMDK and Puthiya Tamizhagam-- took part. Chief Minister Stalin and his cabinet colleagues had attended the 'At Home' reception on the occasion of Independence Day in 2024.

Jos Buttler etched his name in the record books by becoming the highest run-scorer against India in T20 Internationals. The milestone came during the second T20I of the India-England series at the MA Chidambaram Stadium in Chennai, where Buttler surpassed West Indies star Nicholas Pooran to claim the top spot, as per Wisden.