City Mumbai Financial News

Air India chief executive officer and managing director Campbell Wilsonsaid at the CAPA India aviation summit. Sensing an opportunity, several foreign airlines have firmed up plans to approach the government with their requests. “Today we have not exhausted the bilaterals, in terms of number of seats per week but we have hit the limit in terms of number of stations," Sanjiv Kapoor, executive vice-president, strategies of the Saudia Group told Mint.

The Delhi Police have added charges of “disappearing evidence and giving false information” against Bibhav Kumar, aide to Chief Minister Arvind Kejriwal, in connection with the alleged assault of AAP MP Swati Maliwal, news agency PTI quoted an official as saying on Monday.

Taxpayers often get confused about taxation rules pertaining to under-construction properties in India. The under-construction or pre-possession period refers to the duration between the start of a home loan and completion of the construction of the property under consideration. As per the income tax laws, tax benefits on loan for an under-construction property can be claimed in 5 equal installments starting from the financial year in which the homebuyer gets possession of the house.

gold in the last one week has been -1.06%. Whereas in the last month it has been -0.25%.The cost of silver is Rs.90720.0 per kg Gold Price Today in Delhi is ₹73567.0/10 grams. Yesterday’s Gold Price on 09-06-2024 was ₹74286.0/10 grams.

MUMBAI:Small-cap stocks had a spectacular rally the previous fiscal year, much of it driven by foreign portfolio investors (FPIs) betting on smaller Indian companies even as the surge sparked fears of a bubble caused in part by some murky transactions.In the financial year 2023-24 (FY24), about 35% of the total ₹2.08 trillion of FPI equity investments in India were channeled into the top 100 companies of the BSE Smallcap index, totalling ₹71,631 crore and making up 70% of the overall investment into smallcaps, according to BSE shareholding data analysed by Mint.This influx of investments contributed to both the Nifty Smallcap 250 and the BSE SmallCap index, which comprises 946 companies, outpacing returns from the benchmark Nifty and Sensex indices last year.And while the shareholding data for the first quarter of the current fiscal won't be available before 30 June, the BSE SmallCap has already outperformed the Sensex by over 6% since 1 April 2024, with a return of 9.6%, compared to Sensex returns of 3.6%.However, the rapid rise has not gone unnoticed by regulators. In March, Madhabi Puri Buch, chair of the Securities and Exchange Board of India, warned of “pockets of froth" in the overheated small-cap and mid-cap markets.Mint previously reported (here, here, and here) about the potential involvement of Dubai-based hawala operator Hari Shankar Tibrewala in funnelling illegal proceeds from the Mahadev online betting scandal into Indian small-cap stocks.Nevertheless, the surge of foreign investors into India’s small-cap market has provided a semblance of stability.“FPIs could continue to invest in fundamentally sound small caps which are reasonably valued," said SK Joshi, executive director at Khambatta Securities.

At Darshan Super Market in Santacruz east, Mumbai, the steady stream of customers for PepsiCo India’s Sting energy drink is telling. In a span of half of an hour, at least 10 people, between 18 and 35 years of age, come asking for the drink. Darshan, the owner, doesn’t disappoint. His fridge is packed with the product.

Mumbai: India's markets regulator has proposed tighter rules on trading in individual stock derivatives, arguing the rules were needed to avert risks of market manipulation after recent explosive growth particularly in options trading.The move comes after two sources familiar with the matter told Reuters in April that India's top financial regulators would form a committee to assess stability risks emerging from a surge in derivatives markets.Options trading has soared in India in the last five years, fueled mainly by retail investors so that the notional value of index options traded more than doubled in 2023-24 to $907.09 trillion from the year before, exchange operator NSE has said.A discussion paper published on Sunday on the website of the Securities and Exchange Board of India (SEBI) said derivatives contracts on individual stocks should have sufficient liquidity and trading interest from market participants - currently a requirement only for contracts on indexes."Without sufficient depth in the underlying cash market and appropriate position limits around leveraged derivatives, there can be higher risks of market manipulation, increased volatility, and compromised investor protection," SEBI said.Under the proposed rules, for a stock to be considered for futures and options (F&O) trading, it should have traded for 75% of trading days, SEBI said, without specifying over what period.Also 15% of active derivatives traders should have traded the stock; average premium daily turnover should be ₹150 crore ($18 million); average daily turnover must be between ₹500 crore and ₹1,500 crore; and the maximum number of open F&O contracts permitted for the underlying stock must be ₹1,250 crore – ₹1,750 crore.

Mumbai: The Indian stock market will be watchful of global factors after the Lok Sabha elections and monetary policy decisions are settled, next week.Analysts believe that investors will keep an eye on the US Fed interest rate decision, India's inflation data, and the decisions of the new government for the upcoming week starting from Monday.The US Fed will announce US core and consumer price inflation figures, alongside the US Federal Reserve's interest rate decision and Federal Open Market Committee (FOMC) economic projections on June 12. Bank of Japan will also announce its interest rate decisions this week.Domestically, On June 12, 2024, India will announce industrial production data and inflation data which will be closely tracked by the investors.India's retail inflation eased to 4.83 per cent in April, down from 4.85 per cent in March.

IndiGo plane was seen landing and an Air India aircraft taking off from the same runway in less than a minute at the Mumbai airport is now under the lens of India's aviation watchdog.

gold in the last one week has been -1.51% whereas in the last month it has been -1.02%.The cost of silver is Rs.90720.0 per kg Gold Price Today in Delhi is ₹73998.0/10 grams. Yesterday’s Gold Price on 08-06-2024 was ₹75085.0/10 grams and last week’s gold price on 03-06-2024 was ₹73948.0/10 grams. Silver Price Today in Delhi is ₹90720.0/Kg.

India Meteorological Department (IMD) has issued a red alert for heavy rainfall in Maharashtra's Sindhudurg, an orange alert for Ratnagiri, and a yellow alert for Palghar, Thane, Mumbai, and Raigad for June 9.

tulsi (holy basil) on the window sill. Naturally, I sought the help of a horticulture expert who planned the garden space and got the plants started. I definitely wanted a patch for fresh herbs in my cooking.

Jalgaon: Russian authorities have recovered bodies of all the four Indian students who drowned in the Volkhov river, a Maharashtra Government official said on Saturday.

The price change in 24 carat gold in the last one week has been 1.5% .whereas in the last month it has been -0.48%.The cost of silver is Rs.90720.0 per kg up by Rs.40.0 per kg. Gold Price Today in Delhi is ₹74286.0/10 grams. Yesterday’s Gold Price on 07-06-2024 was ₹73570.0/10 grams.

White goods, chemicals, pharmaceuticals and FMCG companies are faced with import delays or higher duties as customs authorities at various ports are holding up import consignments over third party invoicing, people familiar with the matter said.

MUMBAI : Top business schools are drawing lessons from the Lok Sabha polls for their classrooms, even as the dust settles on the world's largest democratic exercise. The ruling National Democratic Alliance (NDA) that was gunning for 400-plus seats finished below 300, enough for the Bharatiya Janata Party (BJP) to form a government with support from allies, but far below market expectations and exit poll predictions.

MUMBAI : From the breath-taking plunge of 4 June, all it took for the stock markets to bounce back and scale fresh highs was three days. Benchmarks and broader market indices on Friday largely recouped their losses from earlier this week, when the markets saw their steepest crash in four years spooked by a narrower mandate for the Bharatiya Janata Party and the National Democratic Alliance in the Lok Sabha election.

Mumbai Railway Vikas Corporation on Friday said it had achieved successful breakthrough of the longest tunnel on the under-construction Panvel-Karjat suburban railway line. Breakthrough of the 2,265 meter long Wavarle tunnel, excavation of which began on February 22 last year, was achieved in the afternoon in the presence of MRVC CMD Subhash Chand Gupta and other senior personnel, said chief public relations officer Sunil Udasi.

Mumbai (Maharashtra) [India], June 7: Holani Venture Capital Fund, a ₹ 300 crores SME focused fund launched on Apr 27th, 2024, at Jaipur and promoted by a renowned name in the investing realm -- The Holani Group – has received ₹ 184 crores till May 27th, 2024, one month of its launch.The Holani group forayed in to fund management and investment sector on receiving the Securities and Exchange Board of India (SEBI) approval for registration of its Alternate Investment Fund on Apr 3rd, 2024, enabling it to operate as a Equity Fund house. The green signal from markets regulator enabled Holani group to receive the investor monies for the dynamic Indian equity markets.

software engineer in Oracle, developed his own cricket app, adept at playing Ukulele, a decent singer and yes, also a game-changing pacer for T20 World Cup debutants USA — if winning in life had a face, it could well be Saurabh Netravalkar. The 32-year-old, who played for India in the 2010 U-19 World Cup, has shared the dressing room with the likes of KL Rahul and Mayank Agarwal, even played the Ranji Trophy for Mumbai, but without doubt his finest moment arrived on Thursday in Dallas, against Pakistan in the T20 World Cup.

arbitration institutions is not sufficient and we have to ensure that these dispute resolution hubs are not controlled by a "self-perpetrating clique", Chief Justice D Y Chandrachud has said. Speaking at the Supreme Court of the United Kingdom, Chandrachud said now is the time for countries such as India to step up to the occasion to create and promote a culture of commercial arbitration and the robust institutionalisation of arbitration will further the culture of arbitration in the Global South.