City Mumbai Financial News

Adani Electricity has disconnected power supply to 100 homes in Mumbai's Chembur, as per a report in the Times of India. As per the report, Adani Electricity took the step amid mounting dues from 1100 families which have swelled to whopping Rs 115 crore. The defaulters, the report added, have not paid their dues since last 19 years, since 2005. After the disconnection, the families in Siddharth Colony, Chembur, demanded restoration on humanitarian grounds.

Maharashtra Housing and Area Development Authority (MHADA) on its premises in Mumbai revealed that 60 out of 62 hoardings were installed without the necessary No Objection Certificate (NOC) from MHADA. Following a tragic incident on May 13, where seventeen people died and 74 were injured due to a hoarding collapse amid strong winds and heavy rains in Mumbai's Ghatkopar, MHADA and the Brihanmumbai Municipal Corporation (BMC) have taken action. In a statement, dated June 14, the MHADA said they and the Brihanmumbai Municipal Corporation (BMC) have removed one of the unauthorised hoardings at the Shubh Jeevan Cooperative Housing Society in Juhu Vile Parle.

Also Read | Samco baffled by post election rally; liked Jubilant Food, Metropolis, Mamaearth, Senco in mid/smallcap spaceEASA spokesperson Janet Northcote stated, “EASA will investigate further the root cause of the document traceability issue and continue to closely monitor any new developments that could lead to a potentially unsafe condition in the fleet," as quoted by Bloomberg.Also Read | Latest Market News Today Live Updates June 15, 2024: Samco baffled by post election rally; liked Jubilant Food, Metropolis, Mamaearth, Senco in mid/smallcap spaceBoeing has assured us that it will remove any affected parts on aeroplanes prior to delivery and that the in-service fleet can continue to fly safely. “This industry-wide issue affects some shipments of titanium received by a limited set of suppliers, and tests performed to date have indicated that the correct titanium alloy was used," the company said," as quoted by Bloomberg.An Airbus spokesperson confirmed awareness of the situation and noted that numerous tests on parts from the same supplier confirmed the A220’s airworthiness remains intact.Also Read | Mumbai-Ahmedabad NH traffic chaos: Viral video shows vehicles crawling on highway, netizens call it ‘peak corruption’The integrity of every component used in the aviation industry relies on verified provenance to ensure safety and structural integrity.

Quick commerce companies have been facing regulatory heat regarding food safety in the past few weeks, with the issue garnering wider attention after a human thumb was discovered in an ice cream ordered via Zepto in Mumbai. Let's take a look at some of the recent episodes of food safety issues on quick commerce:

IPO) of Bengaluru-based Stanley Lifestyles will open for subscription on June 21. The company has set a price band of ₹351-369 apiece for the share sale, which closes on June 25. Investors can subscribe for a minimum of 40 equity shares and multiples thereafter. The offer consists of a fresh issue of ₹200 crore and an offer for sale of up to 9,130,000 shares worth ₹337 crore by existing shareholders. Sunil Suresh and Shubha Sunil, promoters of Stanley, will sell 1.18 million shares each in the OFS portion of the IPO. Investor Oman India Joint Investment Fund II will also divest 5,545,000 shares in the IPO.

Narendra Modi held a bilateral meeting with Japanese PM Fumio Kishida on the sidelines of the G-7 Summit in Apulia, Italy and discussed the Mumbai-Ahmedabad High Speed Rail project with a targeted 5 trillion yen worth of investment in India. Highlighting India-Japan relations, the Prime Minister's office said on X, «Boosting India-Japan relations! PM @narendramodi held a productive bilateral meeting with Japanese Prime Minister @kishida230 in Italy on the sidelines of the G7 Summit.»

Rolls-Royce car in which Maharashtra Chief Minister Eknath Shinde and his two deputies travelled while inspecting the Mumbai coastal road earlier this week sported the registration number of a truck, official record shows. Shinde, who also holds the transport portfolio, and deputy CMs Devendra Fadnavis and Ajit Pawar rode in a 1930 Rolls-Royce, lent by Raymond Group chairman Gautam Singhania for the occasion, as they inspected a stretch of the coastal road on Monday before its inauguration. The car, glossy black with chrome cladding in the front, had the licence plate number MHO4 JU4733. It turns out that the person who painted the number got a letter wrong.

CBI conducted searches at 14 locations on Friday after registering an FIR into the alleged Rs 5717-crore bank fraud by Chhattisgarh-based SKS Power Generation Ltd, officials said. In its FIR, registered on the orders of Allahabad High Court, the CBI has alleged that company promoted by SKS Ispat and Power Ltd. (SKSIPL) had availed Rs 6,170 crore loan from State Bank of India (SBI), L&T Infrastructure Finance Limited, PTC India Finance Limited, and State Bank of Bikaner and Jaipur which resulted in the default of Rs 5717 crore, they said. The CBI has booked Anil Mahabir Gupta, Director of SKS Power Generation (Chhattisgarh) Ltd, Anish Anil Gupta, Director of SKS Ispat and Power Limited, Mumbai and 26 others including two officers of State Bank of India, they said.

Lounge’s guide based on this game reveals where and how chefs eat out—street food abounds, and there is just a handful of premium restaurants. There’s Mumbai, Amritsar, Kolkata, Melbourne and Bangkok, among others, with insider tips on where to find early breakfast, freshly prepared local snacks and steaming bowls of noodles. "Bengaluru does a better dosa than Chennai," says Hussain Shahzad, executive chef, Hunger Inc.

Also Read: Budget expectations: Here's what experts across sectors anticipate in JulyLooking at the yearly performance, 7 out of the 10 stocks in the index achieved multibagger returns in last one year. Sobha led the pack with a remarkable gain of nearly 290%, followed by Prestige Estates Projects with a gain of 238%.Additionally, Brigade Enterprises, Macrotech Developers, Phoenix Mills, Godrej Properties, and Sunteck Realty all recorded substantial gains ranging between 100% and 140%.This exceptional performance can be attributed to the robust sales growth, continuous new developments, strategic price adjustments, and improving financial indicators within the industry.Also Read: Mumbai ranks 3rd, Delhi-NCR 5th in global property price increaseIn FY24, there was a strong surge in demand for residential properties across major Indian cities, driven by increasing disposable incomes, evolving lifestyles, and a rising number of high-net-worth individuals.The demand for luxury homes has surged notably, driven by demographic shifts towards more affluent lifestyles.

Brendan Ferrao, a local doctor, uncovered a human finger in an ice cream he purchased last Wednesday. As per TOI reports, the ice cream was manufactured by Laxmi Ice Creams in Ghaziabad. The wrapper indicated a manufacturing date of May 11, 2024, and an expiry date of May 10, 2025. Police said there was a possibility of contamination during packaging.

New Delhi/Mumbai: Coaching centres that train millions of students for competitive exams expressed apprehensions over the latest national pre-medical entrance test after allegations of arbitrary grace marks and paper leaks, even as the government defended the testing authority and the conduct of exams. In an unusual development, a record 67 candidates shared the top rank in the latest National Eligibility cum Entrance Test (NEET) to select students for medical, dental and related courses. Six of them were from the same exam centre, sparking student protests and suspicions of leaked question papers.

Ambuja Cement, Vodafone Idea, Puravankara, Wipro among others will be in focus due to various news developments. L&T Finance

government is looking to set up a National Centre of Excellence (NCoE) for Animation, Visual Effects, Gaming and Comics (AVGC) and Extended Reality (XR) in Mumbai while also proposing a policy on AVGC to spur growth of this sunrise sector and unlock its full potential, several people told ET. The NCoE will be built in Film City, Mumbai where the Maharashtra government has allotted 10 acres for the project costing more than Rs 1,000 crore.

Adani Group unit Ambuja Cement is to acquire Hyderabad-based Penna Cement at an enterprise value of ₹10,422 crore, adding to its capacity and market share in southern India. Mumbai-headquartered Ambuja Cement will acquire 100% of Penna Cement from existing promoter group P Pratap Reddy and family, the company said in a stock exchange filing. Penna Cement has around ₹3,000 crore of debt, including fund, non-fund debt and inter-corporate deposits, according to sources. Of the enterprise value, Ambuja Cement will hold back around ₹3,500 crore as milestone payments for completion of 2 million tonne (MT) cement capacity and 3 MT clinker facility at Penna's Rajasthan plant, which is likely in a year.

Reserve Bank's nod to operate as an online payment aggregator via its payment gateway brand AuroPay. The authorisation from the apex bank enables the company to operate as an online payment aggregator to provide digital payments services to merchants across the country. «Aurionpro Payment Solutions Private Limited, a subsidiary of Aurionpro...has received final authorisation from the Reserve Bank of India to operate as an Online Payment aggregator under the Payments Settlements Act, 2007, through its payments brand AuroPay,» a company statement said.

National Company Law Tribunal (NCLT) will hear the plea of Hinduja Group firm IIHL for extension of deadline for completing Reliance Capital's resolution on June 20. IndusInd International Holdings Ltd (IIHL) is the successful bidder for the resolution of debt-ridden Reliance Capital, the financial services arm of Anil Ambani Group. The National Company Law Tribunal Mumbai bench on February 27, 2024 approved the Rs 9,650-crore resolution plan for Reliance Capital and fixed May 27, 2024 as deadline for completion. IIHL has moved NCLT seeking a 90-day extension beyond the deadline to implement the resolution plan.

social media trend by sharing a picture of his apartment view and revealing his monthly rent of Rs 80,000. This post, initially met with surprise, led to a viral trend where people shared pictures of their views and rent details from cities like Bengaluru and Mumbai. Jha's post on X quickly gained traction, with approximately 10 lakh views since its sharing on June 7. He clarified that he shares a 3-bedroom apartment with two flatmates. This sparked a debate online about the financial wisdom of paying such high rent when «better» options might be available.

MUMBAI : Sectoral and thematic funds received over ₹19,000 crore in net inflows in May, according to monthly data from the Association of Mutual Funds in India (Amfi). Nearly half of this amount went into HDFC Mutual Fund’s new fund offer (NFO) – HDFC Manufacturing Fund, which alone garnered ₹9,500 crore from investors. It's not just HDFC MF riding this wave; other fund houses have also launched manufacturing funds recently.

Mumbai discovered a human finger in an ice-cream cone his sister ordered online. The incident took place in Malad on Wednesday, raising serious concerns about food safety and hygiene standards. The shocking discovery was made by Orlem Brendan Serrao, a 27-year-old doctor, who had consumed half of the butterscotch ice cream when he felt something unusual on his tongue. Upon inspection, he realized it was a human finger. The ice cream had been ordered by his sister via the grocery delivery app Zepto. Mumbai police has registered a case after a customer complained of finding a chopped finger in an ice-cream he had ordered online through an app. Police has seized the severed finger and has sent it for forensic. A case has been registered. Serrao’s sister promptly reported the incident to the police. Initial investigations confirmed that the object found in the ice cream was indeed a human finger. The police have sent the finger for a detailed forensic examination to understand more about its origin.

Suraksha Group, has appointed Devang Pravin Patel as its Chief Financial Officer (CFO) and will also delist its shares from stock exchanges. The appointment has been made with effect from June 8, 2024, according to a recent regulatory filing. Suraksha Group, which has taken control of Jaypee Infratech ltd (JIL) after approval from the appellate tribunal NCLAT last month, will delist JIL from stock exchanges.