City Mumbai Financial News

Coaches of an express train running between Nashik district and Mumbai got uncoupled at Kasara in neighbouring Thane on Saturday morning, in which no passenger was hurt, a railway official said. The train resumed its journey after 40 minutes when the coaches were re-attached, he said. The Panchavati Express train that began its journey from Manmad junction in Nashik district and was on its way to Mumbai, got uncoupled at Kasara railway station, about 128 km from Mumbai, Central Railway's chief public relations officer Swapnil Nila said. The incident occurred when the train was moving out of the Kasara station around 8.40 am, he said. «The train was uncoupled between coach number four and five. We will check why the coaches got uncoupled,» he said.

MUMBAI : Temasek, the private equity (PE) arm of the Singapore government, is the front runner to acquire significant minority stake in Tynor Orthotics, a Mohali, Punjab-based medical equipment maker, according to three people with knowledge of the development. The manufacturer and exporter of orthopaedic and fracture aids, which is backed by consumer-focused PE firm Lighthouse Funds, is being valued at ₹3,000 crore, three people with knowledge of the development said. “The final bids have come in and Temasek is the front runner," the first person cited above said on condition of anonymity, adding that the other bidders who made it to the final round include global PE firms Warburg Pincus and Norwest Venture Partners.

government is considering the option of handing over operations of Mahanagar Telephone Nigam Ltd (MTNL) to BSNL through an agreement, instead of pursuing a merger route, a source privy to the development said. A final call on this is likely to be taken in a month's time. The source said the option of handing over debt-laden MTNL's operations to Bharat Sanchar Nigam Ltd (BSNL) through an agreement is being looked into. The source said that given MTNL's high debt, a merger with BSNL was not a favourable option. Once the decision is taken, the proposal would be placed before the Committee of Secretaries, and thereafter taken to the Cabinet.

But with her husband gone, eliminating his wages as a server, she was forced to earn money. She took a job at a nearby factory run by a company called All Time Plastics in Silvassa, a city about 100 miles north of Mumbai. A dozen years later, she is still there, plucking newly molded food storage containers and other household implements off a conveyor belt, labeling them and placing them in cartons bound for kitchens as far away as Los Angeles and London. Pawar earns about 12,000 rupees per month (about $150), a meager sum by global standards. Yet those wages have allowed her to keep her daughter in high school while transforming their everyday lives.

MMRDA to evaluate settling the Rs 1,700 crore debt owed by Mumbai Metro One Pvt Ltd (MMOPL) to its creditors through a one-time settlement. Metro 1, the oldest in Mumbai which currently serves 4.6 lakh passengers daily, is the only corridor executed through a public-private partnership. It is run by a special purpose vehicle, the Reliance Infrastructure-promoted MMOPL. MMRDA has a 26 per cent stake in the SPV, while Anil Ambani's R-Infra holds 74 per cent. There are six lenders in all: State Bank of India, IDBI Bank, Canara Bank, Indian Bank, Bank of Maharashtra, and IIFCL (UK).

Modi is set to embark on his visit to Mumbai, Maharashtra today. This will be Narendra Modi's first visit to Mumbai since taking the oath as Prime Minister for the third consecutive term on June 9, following the National Democratic Alliance (NDA)'s victory in the Lok Sabha polls. Around 5:30 p.m., the Prime Minister will arrive at the NESCO Exhibition Centre, Goregaon, Mumbai, where he will launch, dedicate to the nation, and lay the foundation stone for multiple projects related to the road, railways, and ports sector worth more than Rs 29,400 crore.

Financial goals work the same way. They provide you with a clear path, ensuring that your financial journey leads to a rewarding destination. Let's dive into the story of Rajesh Kumra, a fun-loving guy from Mumbai. Rajesh loved to live in the moment, spending his hard-earned middle-class salary on the latest gadgets, fancy dinners, and spontaneous trips. But he was forced to rethink his ways one sunny afternoon over a cup of chai with his old friend, Suresh CN. Suresh, with a twinkle in his eye, casually mentioned that he was about to buy a new house. Rajesh, both surprised and curious, asked him how he could manage such a feat especially in a costly like Mumbai since their salaries were not too different. Suresh smiled and said, «It's all about setting financial goals, buddy. I've been planning and saving for years, and now I'm ready to make my biggest and most expensive dream a reality.» This little anecdote highlights the magic of financial planning. Setting goals isn't just about saving money but creating a roadmap to turn your dreams into reality. After all, 'A goal without a plan is just a wish'.

Delhi recorded a minimum temperature of 27.2 degrees Celsius on Tuesday, and the IMD forecasts a generally cloudy sky with light rain for the day.The maximum temperature is likely to be around 33 degrees Celsius, the weather department stated.The Air Quality Index (AQI) recorded was moderate, with a reading of 94 at 1:19 pm, according to the Central Pollution Control Board.Spicejet has issued a warning for the passengers of flight disruptions due the heavy rains in Delhi. The airline company has asked the passengers to check their flight status frequently. Visuals shared by ANI on X show the parts of Central Delhi and the intensity of the rain showers.

Gaurav Gupta is at the forefront of the fight against counterfeit luxury products in India, with nine cases filed in the Delhi High Court against various counterfeiters. Gupta — who has featured in the Paris Couture Week three times and whose designs have been worn by fashion powerhouses like Beyonce (for her Renaissance tour), Cardi B (Grammys 2023) and Mindy Kaling (Met Gala 2024) — has claimed damages of ₹2 crore from each of the counterfeiters and aims to get restraining orders against all nine. Most of these cases involve parties operating in Delhi, with one case in Mumbai and Punjab each.

international airport that is being planned for Bengaluru will be as large as the Kempegowda International Airport (KIA) and would require about 4500-5000 acres of land, Industry & Infrastructure Minister MB Patil said on Wednesday. The KempeGowda International Airport, operated by the Bangalore International Airport Limited (BIAL) has been the third busiest airport in the country after Delhi and Mumbai. The airport recorded the highest-ever passenger traffic with 37.5 million travelers in the year 2023-24 and handled 439,524 metric tonnes of cargo. The international airport will reach its peak passenger and cargo load capacity by 2035, and the state government has to plan a second airport well ahead of time, the minister told a media conference.

IMD) has issued an orange alert for Mumbai and several districts in Maharashtra's Konkan region, predicting heavy to very heavy rainfall on Saturday. Mumbai, Thane, Palghar, Raigad, Ratnagiri, and Sindhudurg are all under the alert, with the city already experiencing significant rain over the past few days. Heavy rainfall this morning has resulted in waterlogging and traffic disruptions across Mumbai. According to the IMD, the city has recorded 61.69 mm of rain in the last 24 hours. Additionally, authorities have warned of a high tide of 3.87 meters expected in Mumbai at 4:06 pm today. The maximum temperature is likely to hover around 29 degrees Celsius, while the minimum may settle at 24 degrees Celsius. «An orange alert has also been issued for Thane, Palghar, Raigad, Ratnagiri, and Sindhudurg districts in Maharashtra's Konkan region.»

Among the distinguished guests were US television personalities Kim Kardashian and Khloe Kardashian, Nigerian rapper Rema, and former UK Prime Minister Tony Blair. The event also saw the attendance of business magnates such as Saudi Aramco CEO Amin Nasser and Samsung Electronics Chairman Jay Lee. Bollywood's elite turned out in full force, with stars like Amitabh Bachchan, Shah Rukh Khan, Salman Khan, Ajay Devgn, Ranbir Kapoor, Alia Bhatt, Tiger Shroff, and Varun Dhawan gracing the occasion. Southern cinema icons Rajinikanth, Ram Charan, and Mahesh Babu also added to the glittering guest list. Indian cricket legends Sachin Tendulkar and Mahendra Singh Dhoni, along with current stars like Jasprit Bumrah and Hardik Pandya, were present to celebrate the union.

MUMBAI : Brokerages are fielding increasing demand from clients for a margin trading facility to invest in stocks, possibly triggered by the market regulator’s recent spate of regulatory tweaks aimed at tempering the retail investor frenzy in the futures and options segment. Margin trading facility, or MTF, is considered safer, offers higher leverage, and includes a broader range of stocks.

MUMBAI : India’s highest-paid banker isn’t Sashidhar Jagdishan, chief of the country’s largest private lender, HDFC Bank Ltd. That title goes not to Rajeev Jain, the CEO of Bajaj Finance Ltd, India’s largest non-bank, but to Abhay Bhutada, the recently retired chief of Pune-based Poonawalla Fincorp Ltd. Shadow banks such as Poonawalla Fincorp and Bajaj Finance have been able to shower their bosses with hefty salaries, bonuses and stock options as they reap the rewards of robust business growth.

Mihir Shah, son of a prominent political leader in Maharashtra's Palghar district, has brought attention to a tragic hit-and-run incident that claimed the life of Kaveri Nakhwa. The incident occurred early Sunday morning as Kaveri and her husband, Pradeep Nakhwa, were returning home after purchasing fish from Sassoon Dock. «He was arrested after three days, what does this mean? If he wasn't alcoholic, if he hadn't taken drugs, then why did he go into hiding?...why was he absconding for three days? You abandoned the vehicle on the way and broke the number plate before running away...now after three days, there won't be any traces of alcohol in his body and he will have 20 lawyers with him,» teary-eyed Pradeep Nakhwa said. Pradeep Nakhwa vividly recalled the horrific moment when his wife was dragged under the wheels of Shah's BMW: «He dragged her (under the wheels) in front of me. There's no one for us,» he tearfully recounted.

ED) Mumbai has provisionally attached assets worth Rs 14.02 crore of five accused under the provisions of the Prevention of Money Laundering Act, 2002 (PMLA) in the case of an Income Tax Refund fraud of Rs. 263 crore. This includes one flat in Mumbai of Purushottam Chavan, land parcels in Lonavala and Khandala of Rajesh Batreja, balance in Anirudh Gandhi's company bank A/c, insurance policies of accused Rajesh Shetty and Bhushan Anant Patil and fixed deposits totalling to Rs. 14.02 crore, the ED said in a release on Friday. According to officials, ED initiated an investigation on the basis of an FIR registered by CBI under various sections of the IPC, 1860 and of Prevention of Corruption Act, 1988 against Tanaji Mandal Adhikari and others for fraudulently generating and issuance of TDS refunds from the Income Tax Department to the tune of Rs. 263.95 Crore.

TCS too received a big boost from a $1.83-billion network project that it is executing for Bharat Sanchar Nigam Limited (BSNL). A senior equity analyst at a Mumbai-based brokerage firm said the company’s performance was “better than expectations." “There is a clear environment of weakness in the industry, and recovery has not panned out as yet. On overall terms, HCL’s business has strong foundations, and we saw its resilience clearly in the last fiscal.

Rohit Pawar slammed the Mahayuti government for putting up photos of political party leaders at the Chief Minister's official residence where members of the Indian Cricket team were invited after their T20 World Cup win. «There are photos of political leaders. It seems as if they won the World Cup. The photos of the Indian team should have been put up. Secondly, are you asking for votes here on the success of the Indian team, these things are very wrong. It is not right to do politics. Let the Mahayuti do whatever they want. We will be welcoming the team with an open heart,» Rohit Pawar said speaking to on Friday. Pawar said that since a lot of people had come to watch the World Cup winning team and to congratulate them during the open bus victory parade from Marine Drive to Wankhede Stadium, it led to people facing «little trouble» in some places. Pawar also claimed that the program was finalized at the last moment leading to inadequate time for preparations.'

housing sales have resulted in decline of unsold inventory and average residential prices to soar by 49% between H1 2019 and H1 2024 in Delhi and Mumbai. NCR recorded a 49% five-yearly jump in average residential prices from Rs 4,565 per sq. ft. to Rs 6,800 per sq. ft. In MMR, average residential prices appreciated 48% in the period – from Rs 10,610 per sq. ft. in H1 2019 to Rs 15,650 per sq. ft. in H1 2024.

MUMBAI , NEW DELHI : Mumbai/New Delhi: The market for voluntary carbon trading is picking up in India, even before the planned rollout of an official mechanism to speed up the decarbonization journey. However, an abundance of carbon certificates due to the flurry of renewable energy projects has dampened their prices, experts said. At the heart of this market are international renewable energy certificates (I-REC) accrued by the country’s fast-growing clean energy sector.

here.India cricketers have received a rousing welcome home from fans after winning the Twenty20 World Cup final in Barbados.India skipper Rohit Sharma held up the World Cup trophy after arriving at New Delhi International Airport early Thursday morning.Hundreds of supporters were gathered at the airport, many waving the national flag and chanting “India, India."There were thousands more waiting to continue the celebrations, which started Saturday and were about to ramp up.