City Kolkata Financial News

₹49,321 crore, or $5.9 billion, and strong profitability growth in India, as per data from its filing with the Registrar of Companies (RoC). “Apple topped the smartphone revenue chart in India in the first six months, and has also had a very strong two months festive season sales. Due to this, there is strong probability Apple could pip Samsung to the top spot in smartphone revenue in India," said Navkendar Singh, associate vice-president for client devices , International Data Corp.

₹80 a kg, up from ₹60 last week and ₹30 two weeks ago. Prices are similar in other cities such as Chandigarh, Kanpur and Kolkata. Supply-chain intermediaries said they could spiral further.

Narendra Modi and his Bangladesh counterpart Sheikh Hasina are likely to jointly inaugurate two railway projects and a mega power plant on November 1. A government official said that Modi and Hasina would likely jointly virtually inaugurate the 1320 MW generation capacity Maitree Super Thermal Power project at Rampal in Bangladesh’s Khulna division, 15.064 km long Akhaura (Bangladesh)-Agartala (Tripura,India) rail link project, 86.87 km long Khulna-Mongla port rail line project. Akhaura-Agartala new railway line (5.05 km in India and 10.014 km in Bangladesh) would link Bangladesh’s railway station Akhaura through an international immigration station at Nischintapur in western Tripura. The Northeast Frontier Railway (NFR) is the nodal agency of the Rs 1,000 crore Agartala-Akhaura railway project, which was finalised in January 2010 when Bangladesh Prime Minister met then Indian Prime Minister Manmohan Singh during her visit to New Delhi. The Agartala-Akhaura railway project, which is a dual gauge station for both passenger and goods interchange between India and Bangladesh would enable people of the northeastern states, especially Tripura, and southern part of Assam and Mizoram, can go to Kolkata by rail saving 22 hours of travel time. The 1320 MW generation capacity Maitree Super Thermal Power project at Rampal, with two units of 560 MW each, was constructed under the concessional financing scheme of India.

TMC is plundering West Bengal's resources, depriving the people of their needs, BJP state president Sukanta Majumdar alleged on Sunday. Speaking at a programme organised by the state BJP to commemorate the 'Amrit Kalash Yatra', he said one TMC leader after the other is going to jail in corruption cases, and no one knows where will it end. «While Prime Minister Narendra Modi is paying homage to the great sons of the country with the 'Meri Mati, Mera Desh' programme, the TMC is plundering the resources of the state and depriving the people,» alleged Majumdar, the MP of Balurghat.

₹1.5 crore) were sold between January and September in seven metropolitan cities in the country in 2023, against 39,300 (Approx) units sold in the same period in 2022. Also read: Mumbai’s real estate registrations surge during festive season According to the data, out of the approximately 3.49 lakh units sold in eight cities (Delhi-NCR, Mumbai region, Bengaluru, Pune, Hyderabad, Chennai, and Kolkata) in the first nine months of 2023, about 24% or roughly 84,400 units were luxury homes priced above ₹1.5 crore. Among the eight Indian cities, luxury housing sales rose by 260% in Hyderabad between January-September in FY 2024.

World Cup match against South Africa at Chennai on Friday. "Pakistan have been fined 20 per cent of their match fee for maintaining a slow over-rate against South Africa in a league match of the ICC Men's Cricket World Cup 2023 on Friday," said a statement from ICC. The ICC Code of Conduct states that players will be fined five percent of their match fee for every over that is failed to be bowled in the allotted time.

West Bengal minister Jyotipriya Mallick, who was arrested by the Enforcement Directorate in connection with an alleged multicrore ration scam, was admitted to a private hospital in Kolkata yesterday evening after complaints of dizziness, nausea and vomiting, officials said on Saturday. As per the medical bulletin of the arrested Bengal minister, released by the private hospital, Mallick was brought to the emergency department of the hospital around 7.05 pm with complaints of dizziness, nausea, vomiting and weakness of the left arm.

World Cup 2023 was to beat South Africa by 38 runs. However, they have failed to secure any other victory so far and are right at the bottom of the table. Bangladesh, just like their Dutch opponents, have secured only one win so far.

Bangladesh (BAN): Tanzid Hasan, Litton Das, Najmul Hossain Shanto, Shakib Al Hasan (C), Mushfiqur Rahim (WK), Mahmudullah, Mehidy Hasan Miraz, Nasum Ahmed, Taskin Ahmed, Mustafizur Rahman, Shoriful Islam Netherlands (NED): Vikramjit Singh, Max O'Dowd, Colin Ackermann, Bas de Leede, Teja Nidamanuru, Scott Edwards (c&wk), Sybrand Engelbrecht, Logan van Beek, Roelof van der Merwe, Aryan Dutt, Paul van Meekeren The Eden Gardens Stadium in Kolkata is famous for hosting high-scoring matches as it favours batters. However, as the game proceeds, spinners often dominate the game.

Jyoti Priya Mallick was taken to the hospital on Friday evening after fainting amid a court hearing. The developments came mere hours after he was arrested by the Enforcement Directorate in connection with a multi-crore ration distribution scam. Mallick had been produced before the Bankshall court after an extensive medical examination at a south Kolkata hospital.

Jyoti Priya Mallick on Friday in connection with a money laundering scam. The senior politician was apprehended around 3.30 am after extensive questioning and subsequent medical tests at a Kolkata hospital. Mallick's residence was raided earlier this week as the ED probes a multi-core ration distribution scam in the state.

ED searched Mallick's home in Salt Lake, an outlying area of Kolkata, the arrest took place. The minister claimed to be the "victim of a grave conspiracy" as members of the media crowded around him as he was taken away by ED investigators assisted by Central Armed Police Force (CAPF) officers. "West Bengal minister Jyotipriya Mallick has been arrested by ED in connection with an alleged case of corruption in rationing distribution," ANI quoted the agency as stating in an official release.

McLeod Russel India Ltd on Thursday said the company would sell its Vietnam unit, Phu Ben Tea Company Ltd, for USD 2.15 million. The company would sell the entity to TLK Agriculture Joint Stock Company (TLK).

MBA Rankings 2024, an annual suite of rankings identifying the world's top study destinations for aspiring business leaders. IIM Bangalore (ranked 48) is on top of the India list, edging out last year's top ranked IIM Ahmedabad, which takes 53rd spot this year, followed by IIM Calcutta and ISB at 59th and 78th positions, respectively. Last year, the same four institutes were in the top 100 with IIM Ahmedabad on top of the Indian leaderboard at rank 44, followed by IIM Bangalore (rank-50), IIM Calcutta (rank-68) and ISB (rank-78). A total of 11 Indian institutes — compared to nine last year — figure in the global MBA rankings by higher education analyst Quacquarelli Symond.

CBRE, the Industrial & Logistics (I&L) sector is likely to touch a 5-year high absorption mark and touch 36 – 38 million sq ft in 2023 across the top 8 cities in India. “With the surge in quality supply additions, robust festive demand, and the completion of pent-up projects, we anticipate the overall absorption to touch a 5-year high, reaching an impressive 36-38 million square feet by the end of 2023. The active participation of larger developers backed by institutional funds, contributing around 40% to the completed projects, underscores the sector's growth potential,” said Anshuman Magazine, Chairman & CEO — India, South-East Asia, Middle East & Africa, CBRE.

In the quarter, the total revenue stood at Rs 1,364.8 crore, up 2.9% against Rs 1,326.3 crore in the corresponding period of the preceding fiscal. At the operating level, EBITDA declined 20.7% to Rs 53.6 crore from Rs 67.6 crore in the corresponding period in the previous fiscal. Meanwhile, EBITDA margin stood at 3.9% in the reporting quarter as compared to 5.1% in the corresponding period in the previous fiscal. Mahindra Logistics reported a 4% increase in volumes for its MLL Express business during the quarter.

Cello World Ltd is set to launch its Rs 1,900-crore initial share sale for public subscription on October 30. The maiden public issue will conclude on November 1 and the anchor book of the offer will be opened for a day on October 27, according to the red herring prospectus. The issue is a complete offer for sale (OFS) by promoters and other selling shareholders with no fresh issue of equity share component.

bankruptcy court has approved the proposal from a consortium of Himadri Speciality Chemical and Dalmia Bharat Refractories to acquire Kolkata-based Birla Tyres. Lenders of Birla Tyres had earlier cleared the consortium's Rs 347 crore resolution plan for the listed firm with an 82.48% voting.

GST demand order against Delta Corp, the casino and online gaming company said in a regulatory filing on Sunday. The government has raised a total GST demand of around Rs 23,000 crore against the company till date which includes recovery of the shortfall of taxes for casino and online gaming business of the Delta Corp group.

PTI said on Sunday. The capital infusion would be based on the financial performance of the general insurers in nine months, the report also said. According to the PTI report citing sources, the finance ministry last year asked three insurers to chase bottomlines rather than topline and underwrite only good proposals.

Durga Puja pandal in Kolkata is unique in itself. Puja organisers have left no stone unturned to come up with some eye-catching themes to attract people. Jagat Mukherjee Park Puja Committee in north Kolkata is paying tribute to nude models through its theme this year.