City Mumbai Financial News

Avenue Supermarts, which runs the popular DMart chain of retail stores, on Saturday, announced that its consolidated profit for the quarter ended March 2024 has jumped 22.4% to Rs 563 crore as against Rs 460 crore in the corresponding quarter of the previous financial year. The company's revenue jumped 20% year-on-year (YoY) to Rs Rs 12,727 crore. The retailer's EBITDA rose 22.3% YoY to Rs 943 crore while its operating profit margin also growth of 13 bps at 7.41%.

India Meteorological Department (IMD) and Indian National Centre for Ocean Information (INCOIS), the sea will witness a “swell of surge waves" from 11.30 am on Saturday to 11.30 pm on Sunday, the civic body said. During this time, the height of the waves will rise by 0.5 to 1.5 metres, it said.

Design activismGallery 47-A is presenting a new show that looks at the power of design activism to reignite crucial dialogues. Curated by Bengal-based designer Swarup Dutta, the exhibition, titled Gandi Baat, features ideas by the likes of Abhishek Ray, Meenakshi Sengupta, Shohini Sengupta and Tulu Sarkar. “Amidst the noise of social media and the Internet, the importance of engaging with political issues has never been more apparent.

Kotak Mahindra Bank Q4FY24 results: The Board of Directors of Kotak Mahindra Bank (“the Bank") approved the audited standalone and consolidated results for the quarter and financial year ended March 31, 2024, at the Board meeting held in Mumbai, today. The Bank’s PAT for FY24 increased to ₹13,782 crore from ₹10,939 crore in FY23, up 26% YoY. PAT for Q4FY24 stood at ₹4,133 crore, up 18% YoY from ₹3,496 crore in Q4FY23 (up 38% QoQ from ₹3,005 crore in Q3FY24).

gold smuggling under the Customs Act, 1962, has been filed. The gold has been confiscated, a TOI report stated. According to sources, Wardak was not arrested because she has diplomatic immunity. According to the law, if the value of smuggled gold exceeds Rs 1 crore, the suspect is arrested and subjected to criminal prosecution. Sources mentioned that Wardak possessed a diplomatic passport issued by the Islamic Republic of Afghanistan. Responding to a query sent by TOI, Wardak said: “I was surprised and concerned by the accusations and need to look into this matter further. I believe you’re aware of the recent personal challenges I’ve faced while working to support the consulate and embassy. Currently, I am away from Mumbai seeking medical assistance."”

Santrupt Misra, the former HR head of Aditya Birla Group and current BJD candidate from Cuttack, has declared assets valued at approximately Rs 461 crore, making him the richest candidate in the ongoing Lok Sabha elections in Odisha, according to a report by the Times of India (TOI). Misra, 58, joined the BJD in February after opting for voluntary retirement from the Aditya Birla Group. His income tax returns showed earnings of Rs 76.23 crore in 2021-22 and Rs 66.21 crore in 2022-23, as per the TOI report. His affidavit submitted during the nomination filing revealed movable assets worth Rs 408 crore and immovable assets worth Rs 53 crore, including Rs 4 crore in bank deposits. According to TOI, the total current value of Misra's investments in mutual funds, alternate investment funds, bonds, and shares is around Rs 308 crore. He also owns a fleet of luxury cars valued at over Rs 2.3 crore. Additionally, the report states that his wife's movable assets are valued at Rs 11.72 crore. Despite not owning any immovable property in Odisha, Misra possesses agricultural land in Raigad district of Maharashtra, and one flat each in Hyderabad and Mumbai.

The price change in 24 carat gold in the last one week has been 0.24%. whereas in the last month it has been -2.14%. The cost of silver is Rs.83500.0 per kg down by Rs.100.0 per kg.

Shree Naman Developers' acquisition of real estate developer Radius Infra Holdings with a resolution plan that will help settle 81% of secured financial debt of the company. The financially distressed Radius Infra Holdings was admitted into the corporate insolvency resolution process (CIRP) in May 2022. The defunct builder had admitted liabilities of about ₹1,050 crore, while the successful resolution applicant agreed to pay ₹180 crore to acquire the company. The transaction settles 17% of the total debt. Radius Infra Holdings has a prime land parcel of nearly half an acre with development potential in Mumbai's Andheri area. The land parcel is set to be developed within 36 months under the NCLT approved resolution plan.

₹548.77 crore from anchor investors at the upper price band of ₹452 per equity share ahead of initial public offerings (IPO). Indegene IPO, which is scheduled to open for subscription on May 4, has allocated 12,141,102 equity shares to 36 anchor investors, as per the exchange filing.

Coforge Ltd, has a long-term target to be among the top five of India’s $254-billion tech outsourcing industry. To do this, the company will look to ramp-up its latest acquisition of artificial intelligence (AI) and tech services firm, Cigniti Ltd—and could also pursue further acquisitions going forward. In the process, reaching an annualized revenue of $4 billion within the next four fiscals is possible, chief executive Sudhir Singh told Mint.

MI vs KKR IPL 2024: Kolkata Knight Riders (KKR) were in deep trouble when he made his way to the crease. For Manish Pandey, it was more than an inning; it was an opportunity to announce his strong comeback after three subdued IPL seasons. First, he stabilised the KKR innings and supported Venkatesh Iyer well to weave a good partnership, and then he unleashed violence against MI bowlers.

ALSO READ: Rohit Sharma, Rinku Singh seen chatting ahead of KKR vs MI match; netizens speculate what they're talking about MI's N Tushara threw the ball the Hardik and then turn around to break the stumps. Hence, Russell had to depart for the pavilion after scoring 7 runs in 2 deliveries. The Kolkata Knight Riders were all out at 169 in 19.5 overs at Wankhede Stadium in Mumbai.

Lounge readers ideas to create conversation-starting tables for house parties during the scorching summer months. An experiential tablescape engages the guests, sets the tone for the party and makes for a great photo-op. Often, there is an overarching theme—Falconer’s tables take inspiration from the pastoral themes of Shakespeare’s A Midsummer Night’s Dreams or Rajasthani architecture and colours.

Also Read: 'Our votebank is every Indian': Congress President Mallikarjun Kharge writes letter to PM Narendra Modi “A TMC MLA gave an open threat. He said that they would drown Hindus in Bhagirathi in just 2 hours. What kind of language and political culture is this? What is happening to Hindus in Bengal? Looks like the TMC has made the Hindus second class citizens in West Bengal," ANI reported quoting Modi.

Also Read: Mumbai news: Woman, newborn die after BMC-run hospital performs C-section using flashlight; probe ordered "India's image that PM Modi has created across the world, no one can call our country a 'Banana' nation today... Home Minister has made it clear in the Parliament that old laws need to be changed, and he also changed a lot of them," Nikam told newswire ANI.

The price change in 24 carat gold in the last one week has been 1.23%, whereas in the last month it has been -4.02%. The cost of silver is Rs.83600.0 per kg up by Rs.700.0 per kg. Gold Rate Today in Delhi is ₹73681.0/10 grams.

Taarak Mehta Ka Ooltah Chashmah (TMKOC), may have 'planned' his own disappearance and moved out of Delhi, News18 reported quoting Delhi police sources. The actor has been reported missing since April 22 this year, from the locality of the Delhi Airport. The actor left his phone in the Palam area, police sources said, adding, that due to this, the probe to trace Gurucharan Singh has been difficult.

Free Press Journal. While speaking about daughter-in-law's health, the mother-in-law said that she was absolutely healthy and all her reports were also okay. She also added that her daughter-in law was admitted at 7 am on Monday and kept till 8 pm and the doctors kept saying that the delivery would be normal.

Taarak Mehta Ka Ooltah Chashmah' actor Gurucharan Singh, who has been missing for almost two weeks, is suspected to have orchestrated his own disappearance, according to reports. The Delhi Police are actively investigating this perplexing case. The disappearance saga began on the evening of April 22 when Gurucharan Singh, known for his role as Roshan Singh Sodhi on the popular show, was expected to board a flight from Delhi to Mumbai but never did. His father raised concerns and filed a missing person report, stating that Gurucharan had left for Mumbai on April 22 at 8:30 pm but never reached his destination nor returned home, and his phone was unreachable.

Ujjwal Nikam has resigned as a special public prosecutor in all the cases where he was representing the state, an official communication of the Maharashtra government has said. The BJP announced his name as candidate from the Mumbai North Central Lok Sabha constituency four days ago. Nikam «resigned» from the 29 cases across the state, including eight in Mumbai, in which he had been appointed as special prosecutor, and the resignation has been accepted, said an order of the Law and Judiciary department, issued earlier this week. Among others, he was handling the case against alleged LeT operative Sayyed Zabiuddin Ansari alias Abu Jundal in connection with the 26/11 Mumbai terror attacks, Kurar quadruple killings of 2011, and murder of actor Laila Khan and her family.

Logistics company Blue Dart Express on Thursday reported a consolidated net profit of Rs 77.78 crore for the March quarter, registering a 12% increase on the back of revenue growth. The company had reported a net profit of Rs 69.44 crore in the year-ago period. The express air integrated transportation, and distribution logistics company, declared its financial results on Thursday for the March quarter and the entire 2023-24 fiscal year at its board meeting held in Mumbai.