City Hyderabad Financial News

New Delhi: Premium grocery retail chain Namdhari’s Agro Fresh Pvt. Ltd is looking to raise between $20 million and $30 million as it looks to scale beyond South India. Meanwhile, increasing competition from quick-commerce firms and online grocery delivery platforms is also prompting retailers like Bengaluru-based Namdhari’s to boost investments in their brand and scale operations.

Hyderabad, 17 August 2023: Pitti Engineering Ltd., which is into the manufacturing of traction motors and generators, has reported 19.3% growth in net profit for the first quarter at ₹13.97 crore, as compared with ₹ 11.71 crore in the same period last year. The company’s total revenues for the quarter ended June 30, 2023 was at ₹290.71 crore, as compared with ₹311.06 crore in the year-earlier period, down by 6.54%, on account of softening of raw material prices, EBITDA was at ₹42.43 crore as compared with ₹ 35.45 crore, up 19.69%, the highest-ever EBITDA recorded for a quarter. During the quarter the company has achieved highest ever quarterly sales volume of 9,958 MT.

₹75 per equity share of face value of ₹10 each. Bids can be made for a minimum of 1,600 equity shares and in multiples of 1,600 equity shares thereafter. Bondada Engineering IPO issue price is 7.5 times the face value of the equity share.

DCW chairperson Swati Maliwal tweeted on Friday. The notice stated that the incident allegedly took place on Spicejet flight No 157 flying from Delhi to Mumbai on August 16. “It is alleged in the viral video that a passenger Was trying to click obscene pictures of a woman flight attendant and his woman co-passenger.

Also read: What is zero shadow day? Unique celestial event set to grace Bengaluru on August 18 During a Zero Shadow Day, the sun is positioned directly overhead, resulting in the absence of shadows on the earth's surface. This occurrence causes the sun to reach its zenith in the sky, leading to a significant reduction in the length of shadows, rendering them practically invisible.

Sind Bank has taken the first steps to recover bad loans through a sale in secondary markets and joined other lenders like State Bank of India and Bank of India as it puts on the block loans of KSK Mahanadi and KSK Water Infrastructure. The lender is looking to recover over 50% from the sale. The bank has invited bids for a loan of ₹110 crore for KSK Mahanadi and ₹45 crore for KSK Water Infrastructure, setting a reserve price of ₹ 60 crore and ₹ 23 crore, respectively, on an all-cash basis.

BRS Working President K T Rama Rao on Thursday said the party should sweep not just the coming Assembly polls in Telangana but also the Lok Sabha seats in the state, for the party to emerge as a strong force at the national level. Addressing an event here, where a leader from Khammam district returned to the BRS fold from the Congress, he said the BRS would be in a decisive role in government formation at the Centre if the people of the state strongly willed in favour of it.

electric vehicle market in India. The company anticipates that its electric vehicle (EV) lineup, both existing and future models, will constitute a quarter of its total car sales within the next three years, marking a substantial increase from the current figures of three to four percent. Mercedes-Benz recently introduced its new petrol/diesel SUV, the GLC, in Hyderabad.

Mercedes-Benz is expecting its EV portfolio (present and future) to make up 25 per cent of its total car sales in the next three years, growing from the current levels of three to four per cent. Mercedes-Benz on Thursday launched the GLC, its new petrol/diesel SUV, in Hyderabad. Managing Director and CEO of Mercedes-Benz India Santosh Iyer said the automaker is planning to launch three to four EVs in the coming 12 to 18 months in India.

real estate investments across the country. Attendees will have the opportunity to meet one-on-one with the USIF Team and a seasoned immigration attorney from Donoso & Partners LLC, who has substantial experience with EB-5 matters.

real estate consultant released its 'Affordability Index' for the top eight cities for the first six months of the 2023 calendar year. The index tracks the EMI (Equated Monthly Instalment)-to-income ratio for an average household. It indicates the proportion of income that a household requires, to fund the EMI of a housing unit in a particular city.

India Meteorological Department has predicted heavy to very heavy rainfall over Telangana in the next few days. The weather department has also issued a yellow alert for many districts of the state for 19 August.

healthcare to grow families and improve the standard of living is opening newer investment opportunities for Baring Asia-EQT, said one of its key executives. Baring Private Equity Asia-EQT (BPEA-EQT) announced two headline transactions in as many months. In June, it teamed up with Chrys Capital to buy 90% of Credila, the education loan arm of HDFC Ltd, for $1.1 billion--the largest-ever private equity (PE) buyout in India in the financial services sector. The following month, it invested $650-700 million for a 60-65% stake in Indira IVF, the largest provider of fertility services in India and among the top five globally in terms of annual in vitro fertilisation (IVF) cycles. Baring Asia and Sweden’s EQT announced a $7.5 billion merger in 2022 to create the world's third-largest PE fund group. “We continue to remain positively inclined to make more investments. We are not going to maintain that same pace of investments every month, but we are still inclined to making more investments in healthcare,” said Jean Salata, CEO, BPEA-EQT. “We just announced Indira IVF and we did AIG Hospitals in Hyderabad last year. We are still open to doing more in financial services, and of course tech and IT services has been the main thrust for us.”

Vedanta's bid to acquire Meenakshi Energy through the insolvency resolution process was approved by the Hyderabad National Company Law Tribunal last week. The Anil Agarwal company offered ₹1,440 crore against admitted claims of ₹4,625 crore, equating to a 31% recovery, distributed among lenders, trade creditors and employees. Two other bidders — Jindal Power and a consortium of Prudent Asset Reconstruction Company with Vizag Minerals — were also in the fray for the distressed thermal plant, court documents show.

A Startup India initiative String Metaverse Limited, a global Startup India company with a focus on creating gaming communities. String Metaverse Limited has offices in Hyderabad, Dubai, Gift city and Hong Kong currently String Metaverse Limited is a Web 3.0 GameFi startup and fintech platform that enables business partners to offer online gaming services, Play2Earn, Free2play that include rewarding games (Real Money Games) for every transaction covering Retail, E-commerce, Food and Beverages industries.

Both I and my wife are 35 years old and have salaries of Rs 40,000 a month each. We have a Rs 20 lakh home loan and the EMI is Rs 16,000 per month. Last month, we got Rs 65 lakh from a property sale. Should we invest this amount or close the home loan? We have a son and a daughter. We have a 3-BHK flat in Hyderabad, two plots of land, Rs 4 lakh in stocks and mutual funds, a Rs 50 lakh term policy, Rs 4 lakh in LIC Jeevan Anand, a Rs 6 lakh Maxlife policy, Rs 2.5 lakh in EPF, and a Rs 3 lakh SBI Ulip. We have separate mediclaim policies from our employers. Naveen Kukreja, CEO and Co-Founder, Paisabazaar.com: As for your health insurance, you should purchase a cover of at least Rs 1 crore since the mediclaim policies provided by your employer might be inadequate.

Bengaluru, known for its technological prowess, is gearing up for a unique celestial event – Zero Shadow Day – which is set to occur for the second time this year on August 18. This captivating occurrence, happening at 12:24 PM, will result in an intriguing phenomenon: pedestrians strolling along the city's streets will struggle to discern their own shadows. During this time, stationary objects like people or poles will cast no shadows on the ground, unless, of course, they decide to leap.

In Maharashtra, banks will work only for remaining three days as banks witnessed two back to back holidays on August 15, and 16. Banks across India were closed on August 15 on the occasion of the 77th Independence Day. In August, state-wise holidays include Tendong Lho Rum Faat, Independence Day, Parsi New Year (Shahenshahi), Tithi of Srimanta Sankardeva, First Onam, Thiruvonam, Raksha Bandhan, Raksha Bandhan/Sree Narayana Guru Jayanthi/Pang-Lhabsol.

Balaji Amines in declaring its June quarter results following the en masse resignation of five independent directors in May has raised concerns among market participants about the company's prospects. The company, once a darling of Dalal Street, informed stock exchanges on Monday about the delay. «In accordance with the Sebi master circular, we would like to submit that there has been a delay in the preparation of the consolidated financial results on account of the unavailability of the management,» said Balaji Amines in an exchange filing.

Foxconn Hyderabad factory will make AirPods and the factory is expected to begin mass production by December, PTI reported. In the realm of true wireless stereo (TWS), Apple's AirPods take the lead on a global scale. Research company Canalys reported that during the last quarter of 2022, Apple held approximately 36 percent of the TWS market share, securing its dominance.

report for LiveMint, astrophysicist Debiprosad Duari noted that “Any form of the visible light falling on an object generally produces a shadow, unless it is exactly above the object. People and any object, all around the world, living between the Tropic of Cancer and Tropic of Capricorn ( 23.5 and -23.5 degrees latitude) lose their shadows, though momentarily, twice a year.