City Mumbai Financial News

MUMBAI : When Freshworks Inc. first brought in Dennis Woodside as its president in September 2022, there were already murmurs on whether founder and chief executive Girish Mathrubootham would be stepping aside. A former CEO of Motorola Mobility and chief operating officer of Dropbox, Woodside, 55, was already a known name among Silicon Valley investors and the analyst community.

₹358.80 a share on the NSE on Thursday, down 1.98%, while the Nifty index closed at 22,648.20 points. Its total market capitalization stood at ₹4,997.71 crore. CVC Capital Partners, which purchased around 59% in Healthcare Global for ₹1,100 crore in 2020, raised its shareholding to over 60.4% later.

lawyer and the BJP's Lok Sabha candidate from Mumbai North Central seat Ujjwal Nikam on Thursday said politics is a new challenge and asserted he accepted all kinds of challenges while helming criminal cases. In an interview to PTI, Nikam (71) said he joined the Bharatiya Janata Party because the stellar work of Prime Minister Narendra Modi had enhanced the country's standing in the world.

Vedanta Ltd has decided to endorse the demerger of the group’s flagship, ending a nearly seven-month deadlock, confirmed two persons directly aware of the development. The delay had been over the proposed allocation of $7 billion worth of debt owed to Vedanta's creditors in India, including State Bank of India and Bank of Baroda.

₹73790.0/10 grams. Yesterday’s Gold Rate on 01-05-2024 was ₹73893.0/10 grams, and last week’s gold rate on 26-04-2024 was ₹74401.0/10 grams. Silver Rate in Delhi: Silver Rate Today in Delhi is ₹82900.0/Kg.

ANI. Dubey also questioned how such an incident can it happen when the Mumbai Police's lock-up is so safe. "There are CCTV cameras, there are so many officers...This is a big conspiracy," Dubey claimed.

MUMBAI : KVS Manian’s abrupt exit from Kotak Mahindra Bank Ltd a week after the central bank’s knuckle-rap and barely two months after he was elevated as joint managing director may have derailed the lender’s carefully scripted restructuring. Kotak Mahindra Bank informed the stock exchanges late Tuesday that it had accepted Manian’s resignation with immediate effect, stating that he had “stepped down to pursue other opportunities in the financial services sector". It appears, however, that Manian, 62, who has spent nearly three decades at the bank and had been in consideration for the top role, may not have anticipated having to leave immediately.

BENGALURU : One branch of the Godrej family could enter property development to become a future rival to the other, under the terms of their family agreement, though some riders in the treaty may limit its growth in the short term. For long, Godrej & Boyce Mfg Co. Ltd owned the group's land assets, while Godrej Properties Ltd did the property development.

Shiv Sena and the Uddhav Thackeray led outfit will battle it out in three seats. While two seats will witness fights between the traditional rivals — the Bharatiya Janata Party (BJP) and the Congress, in one seat the Shiv Sena (UBT) and BJP will fight it out. The six constituencies in Mumbai are Mumbai South, Mumbai South-Central, Mumbai North, Mumbai North-Central, Mumbai North-East, Mumbai North-West. These are among the 13 seats in Maharashtra that will go to polls in the fifth and final phase on May 20. Mumbai South, Mumbai South-Central and Mumbai North-West will see a fight between the two Senas, while Mumbai North-East will be a BJP versus Shiv Sena (UBT) face-off. In Mumbai South, sitting MP Arvind Sawant of the Uddhav Thackeray will take on Yamini Jadhav of the Shinde-led Sena. Jadhav represents the Byculla assembly constituency in Mumbai. Sena (UBT) leader Anil Desai is pitted against Rahul Shewale of the Shinde-led Sena in Mumbai South-Central.

Chinese smartphone brands are roping in services of Reliance Retail’s distribution arm to reach retail stores in the hinterlands. Xiaomi sub-brand Poco recently roped in Jio Mart Digital (JMD), through a strategic partnership to distribute Poco devices to over 80,000 retail stores across the country, according to industry executives and retailers. The move comes amidst the offline retail channels claiming over 61% of sales in Q1 2024, according to preliminary estimates from Counterpoint Research, up from 56% the previous quarter. Samsung and Vivo have the strongest hold over offline retail, the research firm said, adding that Xiaomi and Transsion were the fastest growing in Q1 2024.

Godrej clan with tangled cross-holdings in dozens of industries has proved with a harmonious split of business between the two branches of the family. When it's routine for heritage business families to fight tooth and nail over division of assets and businesses, the Godrej family is splitting its business, what it calls «realignment», in an exceptionally amicable manner. Adi Godrej and his brother Nadir will keep Godrej Industries that has five listed firms, while their cousins Jamshyd and Smita, who too are siblings, getting unlisted Godrej & Boyce and its affiliates as well as a land bank in Mumbai. Also Read: Godrej family seals terms of division; Nyrika Holkar, Pirojsha Godrej emerge key next generation leaders

MUMBAI : Mumbai: Minority shareholders of ICICI Securities Ltd are questioning the rationale and intent of mutual funds that bought shares of the brokerage firm in February at a premium only to vote in favour of delisting the company shortly after. By buying the shares at a premium, and then voting for the delisting to get ICICI Bank shares in exchange, the funds hurt the interests of their unit holders, say the minority shareholders.

CBI has searched 30 locations across 10 states and union territories after registering a case in a fraudulent investment scheme linked to the HPZ Token App, officials said Wednesday. The agency has alleged the scheme involved misleading the public to invest in non-existent crypto-currency mining machine rentals. The nationwide operation ended Tuesday night. Two private companies, Shigoo Technology Private Limited and Lillian Technocab Private Limited, along with their directors were booked in the case under Indian Penal Code Sections 120-B (criminal conspiracy) 419, 420 (cheating) and Section 66 D of Information Technology Act, 2000, officials said. The CBI seized digital devices, including laptops, mobile phones, ATM and debit cards besides a trove of email accounts, during the searches spread across Delhi-NCR, Jodhpur in Rajasthan, Mumbai in Maharashtra, Bengaluru in Karnataka as well as locations in Tamil Nadu, Andhra Pradesh, Uttar Pradesh, Bihar, Odisha and Madhya Pradesh.

Mumbai, Seclore, the leading provider of data-centric security solutions, announced it is the recipient of the official certification as a Great Place To Work® for the fifth year in a row. The Great Place To Work® Certification recognises Seclore’s commitment to the fundamental company values called “SPICE", which stands for spreading positivity, passion for people, integrity, customer focus, and entrepreneurial spirit.

Katrina Kaif, known for her on-screen performances, recently once again became the subject of a deepfake video that surfaced online. The video purportedly showed her fluently speaking French at the launch of Bina Kak’s book 'Silent Sentinels of Ranthambore' in Mumbai. The clip has sparked a debate about the growing influence of artificial intelligence (AI) in media.

Adani Energy Solutions Ltd (AESL) on Tuesday posted a 13.26 per cent fall in its consolidated net profit to Rs 381.29 crore during the quarter ended March 2024 on account of increased expenses. Its net profit after tax was at Rs 439.60 crore in the January-March period of the preceding 2022-23 financial year, the company said in an exchange filing.

Here is what we know so far:

The price change in 24 carat gold in the last one week has been -1.05% whereas in the last month it has been -5.59%. The cost of silver is Rs.83400.0 per kg down by Rs.500.0 per kg. Gold Rate Today in Delhi is ₹73646.0/10 grams.

State Holiday for May Day / Maharashtra Day and Labour Day: Today, May 1, is commemorated as Maharashtra Day in honour of the establishment of the state in India. Also known as Maharashtra Din, it marks the anniversary of May 1, 1960, when Maharashtra was officially formed following the reorganisation of states based on language. May 1st is also recognised as Labour Day, dedicated to acknowledging the contributions of workers and the labour movement.

God of War but also gamers who life real-time strategy titles. From F1 24 to Senua’s Saga: Hellblade 2, here’s a look at 5 exciting gaming titles that are releasing in May. There is perhaps no better companion for motor racing gaming and Formula 1 enthusiasts for the ongoing F1 season than F1 24 – the official video game of the 2024 FIA Formula One World Championship, which releases later this month.

Godrej Group entities Godrej & Boyce and Godrej Properties, as part of ownership realignment of their shareholdings in the Godrej Companies, have decided to continue their Memorandums of Understanding (MoU) executed from time to time, for development of the former’s land in Mumbai’s eastern suburb Vikhroli. This proposed development will take place as and when the land owner and developer Godrej & Boyce is desirous of developing the said land, the companies said in a joint release. “The future development of Vikhroli presents a unique opportunity to create a holistic space in the metropolis of Mumbai where urban development and biodiversity co-exists harmoniously. Godrej Construction and Godrej Properties bring complementary strengths, and this has translated into the launch of successful real estate projects in Vikhroli,” said Jamshyd Godrej, CMD, Godrej & Boyce.