City Kolkata Financial News

Festivals in October 2023 Sharad Navratri 2023: Navratri is celebrated twice a year—once in the spring, known as Chaitra Navratri, and again in the autumn, as Sharad or Shardiya Navratri. The latter, Sharad Navratri, unfolds over a span of nine days during the Hindu calendar month of Ashwin, which typically falls between September and October.

China is putting together the «largest» conventional military buildup since the Second World War, without clarifying the strategic purpose behind the exercise. Australia has sought to stabilise its relationship with China after a «difficult period», he said. «China is engaging in the largest conventional military buildup that the world has seen since the Second World War.

Banks in October are closed on the occasion of Gandhi Jayanti, Mahalaya, Kati Bihu, Durga Puja, Dusshera, Lakshmi Puja, Sardar Vallabhbhai Patel’s Birthday.

Tata Power EV Charging Solutions Limited (TPEVCSL) on Tuesday announced its collaboration with Kolkata Airport Authority to install to establish EV charging points at the airport, the company said in a press release. The formal inauguration of four EV chargers (DC-CCS2 and single-gun GB/T chargers) took place on Tuesday, September 26, 2023. A formal agreement was inked between the Airport Authorities of India and Tata Power for setting up charging stations. These chargers are suitable to charge all electric cars available in the country.

Finance Bank Ltd and logistics company Western Carriers (India) Ltd have received capital markets regulator Sebi's approval to raise funds through Initial Public Offerings (IPOs).

New Delhi: The National Company Law Appellate Tribunal (NCLAT) on Monday postponed the hearing on the insolvency case of SREI Infrastructure until 4th October after the company sought time to submit a rejoinder to the Reserve Bank of India (RBI) response. Adisri Commercial, former promoter of SREI Infrastructure, has appealed to the NCLAT challenging the NCLT Kolkata bench decision.

BENGALURU : Delays in completing real estate projects have somewhat declined, latest data shows. In achieving this, the implementation of the Real Estate (Regulation and Development) Act, 2016 or RERA has played a key role. Mint explains: Around 86% of residential projects (1,409 projects) launched between June 2017 and 2018-end, after the implementation of RERA in May 2017, are completed.

Lithium-ion cells. The company based in Kolkata is a producer and exporter of Aluminum foil for various industrial applications with an annual production capacity of 20,000 tons. For the production of 1GWh (Gigawatt-hour) of LFP (Lithium Iron Phosphate) cells, which powers a wide variety of electric vehicles and energy storage systems, 350 tons of high purity and uniform-thickness aluminum foil is required that acts as a positive (cathode) current collector. The demand doubles for Sodium-ion batteries where both positive and negative current collectors is expected to be using aluminum foils. The customized battery aluminum foil from Shyam Metalics with thickness ranging from 12-micron to 20-micron has been tested and validated by third-party laboratories, according to the company. India spent $1.8bn to import 5,486.18 kWh lithium-ion batteries during April-November 2022 period as against the import of 6,167.68 lakh units of lithium-ion batteries for $1.83bn in 2021-22, indicating a growth in imports consequently to rising demand for electric vehicles and green energy solutions. “We are thrilled to foray into manufacturing battery foil and support the government to mobilize resources to indigenize battery cell manufacturing.

One of the most notable increases is in the price of eggs, with the cost per piece rising from Rs 6 to Rs 7. Fish prices have surged by an average of Rs 100 per kilogram, while chicken prices have seen an increase of Rs 20 per kilogram.

Ana Rodriguez. India accounts for 11% of Lladro's global sales. The company generates 69% of its business from heritage concept (high porcelain, classic sculptures, home and licences), 21% from new concept (design sculptures, scent and jewellery), and 10% from lighting. Lladro will also have an «important» investment plan for developing online sales in the country next year, besides launching more mono-brand stores in the country, according to Rodriguez. With the new boutique, Lladro now has eight own-brand stores in India in markets such as New Delhi, Gurugram, Mumbai, Bengaluru, Hyderabad, Chennai and Kolkata. «For us, India is not only a key market but a very strategic market,» Rodriguez told ET.

NARCL), the winning bidder to take over the bankrupt Srei non-bank lenders has distributed ₹2,580 crore of cash accumulated in the company to creditors in the first step to implementing its resolution plan. The cash was distributed as part of the ₹3,180 crore upfront payment promised by the bad bank in its winning bid and was credited to banks on Saturday, four people familiar with the details said. The payment to lenders means that NARCL now has 45 days to complete the implementation of its plan including the issuance of debentures and preference shares to lenders which can be encashed based on future recoveries from the account. «The distribution of cash is an important milestone in the implementation of the plan. NARCL will now move for documentation, issuance of debentures and equity stake to lenders as promised in its resolution plan,» said a person aware of the details.Canara Bank is the largest beneficiary receiving ₹250 crore, followed by State Bank of India (SBI) at ₹220 crore, Punjab National Bank (PNB) at ₹215 crore and Union Bank of India at ₹200 crore. As almost all lenders have fully provided for this loan, the recovery is likely to be written back to the banks' profits.

₹92-122 per kg in farm gates of Kolkata, Bengaluru and Delhi this month, and retail prices ruled at ₹250-260 a kg, according to spot trading data. In July and August, farm gate chicken prices hovered around ₹90-100 per kg and retail prices were quoted at ₹180-210 per kg. Similarly, egg prices in Delhi, Kolkata, Mumbai and Bengaluru inched up to ₹540 per 100 pieces in wholesale markets, and ₹650 at retail outlets in September.

The covid pandemic is over and it’s now business as usual. Cities have sprung back to life as people return to office. And, so have the huge traffic snarls, as people travel from home to office and back during rush hour. Meanwhile, young professionals are looking for cost-efficient and convenient ways to commute to their offices. Many of them are carpooling to hitch a more comfortable ride.

Mamata Banerjee returned to Kolkata after a 12-day tour of Spain and UAE, the ruling Trinamool Congress and opposition BJP on Sunday got involved in a war of words with the saffron party mocking the CM's trip and the TMC questioning Prime Minister Narendra Modi's foreign visit when Manipur was burning. Senior BJP politician and leader of the opposition Suvendu Adhikari accused the TMC of «hobnobbing with corruption» for questioning Modi's overseas visit. TMC spokesperson Kunal Ghosh shot back saying, «Banerjee is more trustworthy» than Modi. "PM @narendramodi embarked on foreign trips while Manipur was burning.

Kolkata: California-based ride-hailing service provider inDrive will start registering electric vehicles (EV) on its platform in the metropolis soon, an official of the company said on Saturday. inDrive has already started this registration in Delhi where 100-odd driver-partners have already associated with it, Mohan Pradhan, business development manager, India and Bangladesh, inDrive said. He said that inDrive started operations in India in 2018 and is available across 12 cities in the country including Kolkata. «We have started taking registrations for EVs in Delhi and 100 driver-partners have been already associated. We will also start taking registrations for EVs in Kolkata and other cities shortly», he said. Pradhan said nearly 10,000 rides in Kolkata are done on a daily basis, adding that the number is approximately 50,000 in other parts of India where it currently operates.

Opposite our home in Kolkata, a pile of garbage builds up to mountainous proportions silently through the night, as if by magic. Not in or around a designated bin, but in the forecourt of a derelict building at a fork in the road.

₹2 lakh remains much lower than that for standard iPhones. “Demand for the iPhone 15 Pro series is much less than the standard iPhone 15 models—for every 10 Pro iPhones sold, we’re seeing orders for at least 80 standard models," the Kolkata-based retailer said. This is in line with historical demand for the iPhone Pro models in India.

Mrinal Mitra is an NRI living in Canada. Recently, he shared with us that his ancestral home in Kolkata is being sold and he is expecting his part to be around Rs 15 lakh. Mrinal said the money will be deposited in a joint account with his daughter in State Bank of India, New Delhi. However, his daughter is still a student in Canada.

Lux Industries shares declined over 3 per cent on Friday, September 22, after reports said that the Income Tax (I-T) department conducted searches at company's headquarters in Kolkata. The I-T Department has reportedly alleged a tax evasion of ₹200 crore by the company. Raids were conducted in multiple cities at premises linked to Lux Industries.

credit card frauds, particularly targeting women in areas like New Alipore, Netaji Nagar, and Ballygunge in south Kolkata. Fraudsters are using the pretext of Durga Puja «packages and offers» by banks to deceive victims. In one recent incident, a woman from New Alipore received a call from fraudsters promising to increase her private bank credit card limit.

Oyo has added nearly 2,800 corporate clients during the January-July 2023 period, up 11.75% year-on-year (YoY), according to a report from the company titled 'Oyo Business Travel Trends Report 2023'. The report suggests the company recorded a 20% revenue growth from business travel in January-July 2023 against the year-ago period.