City Mumbai Financial News

Aris Infra, a technology-driven construction material procurement platform, is looking to raise Rs 600-700 crore through an initial public offering (IPO). The Mumbai-based company is backed by high-net-worth individuals (HNIs) and family offices such as PharmEasy CEO Siddharth Shah, San Francisco-based Think Investments, and partners from private equity firms such as TPG Capital, Temasek, and BlackRock.

Paradigm Realty has entered into agreements to redevelop 11 housing societies spread across land parcels of more than five acres in Mumbai’s western suburb of Bandra and Kandivali. The project has gross consolidated revenue potential of around Rs 4,500 crore. These projects in Bandra’s Pali Hill and Carter Road areas, and Kandivali’s Mahavir Nagar, are estimated to have development potential of over 2.8 million sq ft. The projects in Pali Hill and Carter Road are spread over around half an acre each with development potential of 1.5 lakh sq ft and 1.6 lakh sq ft and estimated revenue of Rs 500 crore, respectively. The Mahavir Nagar project has a development potential of over 2.5 million sq ft of which the free-sale RERA carpet area of up to 1 million sq ft holds a gross development value of nearly Rs 3,500 crore.

₹2.1 trillion, the highest ever for a month. GST revenues stood at 6.62% of the gross domestic product (GDP) for the fourth quarter of 2023-24, much higher than the corresponding quarters for the preceding two financial years (Chart 1). But a deconstruction of GST numbers over seven years, especially from the perspective of states, reveals expectations belied and friction points aplenty.

JM Financial, has set up BlinkX Gen AI Lab for operational efficiencies and enhancing customers’ experiences. Spread over 10,000 sq ft, BlinkX Gen AI Lab, based in Mumbai, has a dedicated team of in-house researchers and developers who aim to drive consistent innovations to deliver personalised trading strategies, risk management, portfolio optimisation, and faster decision-making capabilities to customers. Soumya Pattanayak, associate director, MarTech, AI and Digital Marketing, BlinkX by JM Financial, said, “The launch of BlinkX Gen AI Lab represents a major advancement in our AI capabilities. One of our standout innovations, amongst many, is the automated creative commentary generation, which will deliver personalised, real-time content tailored to each client's portfolio and relevant market events”.

Mint, she said that the overall size of the auction market expanded by more than a fifth in 2023, from an estimated $150 million in 2022. And so far in 2024, sales have already reached $90 million. "The market has grown significantly (in value and volume) over the last four years, through the pandemic and the lockdown.

New Delhi, India, June 26, 2024: Shankh Air, poised to become the first scheduled airline in Uttar Pradesh, is advancing its launch initiatives and awaiting final NOC from Ministry of Civil Aviation. Recently, Chairman Sharvan Kumar Vishwakarma had a pivotal meeting with Honorable Minister of Civil Aviation Shri Kinjarapu Rammohan Naidu and deliberated on the airline's strategic direction and forthcoming developments as a Full Service Start Up Airline.

Bharat Agri Fert & Realty Ltd plans to develop a 7-star theme-based resort on the outskirts of Mumbai with an investment of about Rs 55 crore. It plans to launch an additional 170 rooms, along with a banquet hall and enhanced amenities by 2025-2026, thus offering the perfect venue for destination weddings on the banks of a river within the 120-acre freehold land, the company said in a statement.

? The amount die-hard fans are willing to shelve to catch Telugu superstar Prabhas may make you dumbfounded. According to a News18 report, fans are willing to shelve as high as Rs 2300 to bag a ticket for ‘Kalki 2898 AD’. What makes this news even more astounding is that these are not fans from regions such as Telangana and Andhra Pradesh, which are considered the mainstay of Telugu stars, but Mumbai! Yes, you read that right! The most expensive ticket for the upcoming epic sci-fi fantasy is being sold in Mumbai.

Jonathan Trott believes Afghanistan will go into Wednesday's T20 World Cup semi-final against South Africa boosted by «having no scarring, no history» unlike the accident-prone Proteas. Afghanistan will be playing in the last-four of any World Cup for the first time. South Africa are still without a major global title with just the 1998 Champions Trophy to show for all their endeavours.

gold in the last one week has been -1.72% whereas in the last month it has been -0.96%.The cost of silver is Rs.88690.0 per kg down by Rs.160.0 per kg. Gold Price Today in Delhi is ₹73532.0/10 grams. Yesterday’s Gold Price on 25-06-2024 was ₹74492.0/10 grams.

The Pursuit of Happyness and Andy Sachs (Anne Hathway) from The Devil Wears Prada remain fan favourites because of the resilience they display in embracing the unfamiliar. “In a neoliberal economy, productivity and continual self-improvement are emphasised as key to success," says Melissa Brown, assistant professor of communications at Santa Clara University, US.

Reliance Retail has started the pilot of immediate delivery of groceries and fast-moving consumer goods (FMCG) products in certain areas of Mumbai and Navi Mumbai where orders will be fulfilled within an hour, a senior industry executive told ET. The group's fast-delivery service has been integrated into the Jiomart mobile application as a 'hyperlocal delivery' option. Reliance will try to reduce the delivery time to 30-45 minutes as more stores get linked into the system and the operation expands into other markets, the executive said. According to industry executives, Reliance's shortest delivery time for orders of daily necessities placed online is about 12 hours. Some orders can even take up to three days. An email query sent to Reliance Retail remained unanswered as of press time.

Quant’s offices in Mumbai and Hyderabad on 21 June for a search and seizure operation triggered by suspicion of front-running by Quant’s employees. “Look around you. Do you see any disruption? We are all carrying on our usual work," said Tandon when this reporter visited the Quant MF office in Mumbai.

ICICI Bank hit a 52-week high on Tuesday, making it the sixth Indian company to cross $100 billion market capitalisation. The stock scaled a high of Rs 1,207 before closing the day 2.5% higher at Rs 1,199. Only HDFC Bank, with a market capitalization of just over $162 billion, is above ICICI Bank in terms of m-cap rankings among the lenders.

special TADA court here on Tuesday rejected gangster Abu Salem's plea opposing his planned transfer from the Taloja prison in Navi Mumbai. Salem is undergoing life sentence at the Taloja prison in the 1993 Mumbai serial blasts case. The decision to shift him was a «conspiracy to kill him» as he was likely to be released in a few months, Salem's application claimed. The current prison was safe for him and he could be attacked by members of the rival gangs in other jails in Maharashtra, it said. The jail administration told the court it wanted to relocate Salem as his current cell needed reconstruction, and there was no other safe cell for him in Taloja. Special judge for cases under the Terrorist and Disruptive Activities (Prevention) Act B D Shelke, after hearing both the sides, rejected Salem's plea. The court, however, asked the inspector general (prisons), Pune, to issue appropriate directions to the Taloja jail superintendent to ensure the gangster's safety while shifting him to the central prison in Nashik, as planned. A direction should also be issued to the Nashik prison to ensure the safety and security of the convict, the judge said.

₹50 lakh due to a freak hailstorm. This year I am hoping to recover the losses," he said, sitting on a charpai, under the shade of giant mango trees spread across the 25-acre orchard. The oppressive June heat, closing in on 50 degrees Celsius, is a little more bearable here.

Mumbai: Just like the post-pandemic recovery, the Indian inflation story is also 'K-shaped' and is hurting certain sections more than others, a foreign brokerage said on Tuesday. Rural consumers are more impacted by price-rise than their urban counterparts, economists at HSBC said, adding it outstripped the urban segment by 1.1 percentage point in May, mainly due to higher food inflation. «The same developments, driving a K-shaped recovery, seem to be driving K-shaped inflation dynamics,» they said in a report. The report by its chief economist Pranjul Bhandari cited the ongoing heat waves, pointing out that higher food and lower core inflation are coexisting because of crop damage and livestock mortality pushing up the former.

Shaktikanta Das while addressing the 188th AGM of Bombay Chamber of Commerce & Industry in Mumbai informed that India is at the threshold of a major structural shift in its growth trajectory as it moves towards 8% GDP in a sustained manner. «India is at the threshold of a major structural shift in its growth trajectory moving towards 8% GDP growth in a sustained manner,» said the RBI governor in Mumbai. Speaking on RBI's forecast of 7.2% growth, the governor flagged concerns such as weather, geo political conflicts, fragmentation in trade and other challenges like heightened financial sector volatility that could hurt the forecast but remains confident of achieving the predicted growth.

₹12,000-14,000 crore in the next 2-3 years developing commercial office, residential, and hotel projects, said a top company executive. Around 40% of the planned investment will be deployed in office projects, 50% in housing development, and 10% in hotel projects across existing cities it operates in, such as Bengaluru, Pune, and Hyderabad. It is also set to enter two new property markets - Chennai and Mumbai, Sattva Group's managing director Bijay Agarwal told reporters.The investment will be financed through a combination of equity, debt and internal accruals like sales.

Lounge asked four yoga practitioners and trainers to share their daily yoga rituals, and a few they’d recommend to a yoga novice. Also read: The benefits of doing yoga everyday‘Yoga gave me this magical second life’– Anshuka Parwani, certified yoga and wellness expert and founder, Anshuka Yoga, Mumbai How my journey into yoga began: I used to be a pilot and a near-fatal accident had left me immobile with multiple fractures. I was bedridden for long and that’s when yoga came to me as therapy.

Amitabh Bachchan has purchased three more office properties spread across three floors in a commercial project in Oshiwara locality of Mumbai’s western suburb Andheri for nearly Rs 60 crore. The actor already owns four offices totalling over 12,000 sq ft built up and 10,800 sq ft carpet area in the same commercial tower. ET had reported in September that these offices spanning an entire floor were bought and leased to music entertainment company Warner Music India through a long-term agreement for a total tenure of five years. The new office space spread over 8,429 sq ft carpet area is on the 27th, 28th, and 29th floor of the ready to move commercial tower. As part of the deal, the buyer will also get exclusive access to three car parking slots in the building.