City Mumbai Financial News

Food-tech unicorn Swiggy, which is gearing up for an IPO later this year, provides an incentive-based structure for health insurance for its delivery agents, which works to the advantage of the company, while putting the delivery personnel at a huge disadvantage in case of any leave taken in case of family emergencies etc.

Also Read | 'Goodbye Air India jumbo': Netizens hail ‘wing wave’ manoeuvre as Boeing 747 takes off for last time from Mumbai “Delighted to announce our newest codeshare partner, @FlyANA_official. With this, we offer you even more convenient connectivity between India and Japan. If you are a Flying Returns Gold or Platinum member, this also lets you enjoy premium services on both airlines," Air India said on X.

Trident Realty has raised ₹1,200 crore through sale of assets, including Shipra Mall in Ghaziabad and a land parcel in Gurugram, as part of plans to focus on its residential business and exit non-core assets, said people close to the development.

Air India has entered into a codeshare partnership with Japan's All Nippon Airways. With the codeshare, effective for travel from May 23, Air India and All Nippon Airways passengers can fly to their desired destination by combining those flights between India and Japan with a single ticket. Air India will add its 'AI' designator code on ANA's flights between Tokyo Haneda and Delhi as well as Tokyo Narita and Mumbai. ANA will add its 'NH' designator code on Air India's flight between Tokyo Narita and Delhi, a release said on Tuesday.

₹70,000 buy you? A month’s rent in a 3-BHK in a south Delhi apartment or a 1-BHK in Mumbai. But in some hotels, that money may not be enough even for a night’s stay. Take five-star resorts in most parts of the country right now, like AmanBagh, a sprawling property in an obscure location in Ajabgarh, in Rajasthan’s Alwar district.

CIFDAQ, a new-age fintech company that offers integrated solutions spanning the blockchain layer 1, native coin, exchange services, MPC Wallet, DeFi, NFT, gaming, and other products, has launched its India operations. The fintech firm is headquartered in Mumbai and has offices in Delhi, Bengaluru and Kolkata.

NEW DELHI : Consulting firms have begun practising what they’ve been preaching: bet on artificial intelligence to rein in costs. For employees, though, particularly those in the junior ranks, it’s been at their cost.

HSBC Geneva, a tax order has questioned the very approach of the Income Tax (I-T) department in going after individuals whose names figured in the infamous list of information that was stolen by an employee of the Swiss private banking arm of the British bank. In a decision that could have a bearing on other `HSBC account’ cases, a tax tribunal last week has ruled that the I-T department cannot go back 16 years to reopen old matters to tax the ‘peak balance’ lying in such bank accounts. Why? Because, according to the Mumbai bench of the Income Tax Appellate Tribunal — a quasi judicial authority — a bank balance reflects 'assets' and not ‘income’, and, under the law, only income can be taxed. Till now, in many HSBC matters, tax claims have been raised on the maximum amounts that were lying in the bank accounts — primarily because that was the only information that the I-T department had in 2010-11 when it received the data.

₹6.46 crore, PTI reported while citing an official. Customs officials arrested eight passengers who had over 6.815 kg of gold worth ₹4.44 crore and diamonds valued at ₹2.02 crore last weekend, according to a statement released late April 22 night. An Indian traveller going from Mumbai to Bangkok was caught with diamonds hidden in noodle packets inside his suitcase.

MUMBAI : India’s largest commodity derivatives exchange has opened its doors wider to foreign investors in its biggest segment, after a previous attempt to secure their interest did not take off as expected. On Saturday, the Multi-Commodity Exchange of India Ltd (MCX) allowed FPIs under the categories of individuals, family offices and corporates into oil and natural gas derivatives, which made up 77% of MCX’s March turnover.

LSG vs CSK IPL 2024: Defending champions Chennai Super Kings (CSK) is not having a great time against Lucknow Super Giants (LSG) at Ekana Stadium, Lucknow as the Ruturaj Gaikwad-led team was put to bat first after KL Rahul won the crucial toss. CSK openers Ajinkya Rahane and Rachin Ravindra made their way to the crease, but Mohsin Khan's brilliant delivery took out Rachin for a golden duck. Captain Ruturaj Gaikwad followed his opener back to the pavilion soon after Yash Thakur provided LSG with their second wicket.

movie screen expansion is deeply slanted towards Delhi NCR (National Capital Region), parts of Maharashtra, especially Mumbai, and cities like Bengaluru that have a tradition of multilingual viewing. On the other hand, states like Bihar, Uttar Pradesh, Odisha, Chhattisgarh, Madhya Pradesh and the northeast remain relatively screen dark. Because there are a fewer theatres in these states, films get only limited showcasing and returns are minimal.

₹5 per order, Economic Times quoted the Gurugram-based firm's app as saying. According to the report, the platform fee has surged in cities like National Capital Region, Bengaluru, Mumbai, Hyderabad and Lucknow. Earlier on 1 January, the firm had last increased the platform fee for users from ₹3 to ₹4.

MUMBAI : The BSE SME IPO index scaled a record high of 63,751.82 points early Tuesday, lifting its market capitalization to ₹1.52 trillion and marking a significant resurgence from the slump witnessed in March. The BSE SME IPO index had plunged 11.2% after Madhabi Puri Buch, chairperson of the Securities and Exchange Board of India, raised concerns regarding the stretched valuations of smallcap and midcap stocks. Market experts warned that investors should not get caught up in the exuberance of the stock market.

Income tax rule for gold: Amid fear of the Iran-Israel war, the gold rate today is in an uptrend bias. Despite the weak opening of the gold price today on the Multi Commodity Exchange (MCX), gold price in the domestic market has risen to the tune of 7.60 percent in April 2024 whereas it has delivered more than 15 percent return to the gold investors in YTD time. So, at this juncture, when the market experts are still expecting a bounce back in gold prices, it is important to know how the income tax rule applies to income booked from gold investments.

MUMBAI : Adani Green Energy Ltd is close to raising $400-500 million from at least two Europe-based funds, two people aware of the deal said. Billionaire Gautam Adani's family members and associates hold 53.67% in Adani Green Energy, the group's second-largest subsidiary with a market value of over ₹2.8 trillion. The company will need to sell new shares worth about 1.5% stake to raise the amount, going by its current market price.

ANI report, citing Mumbai Crime Branch, said that in the case, statements of more than 10 people have already been recorded, while the process of recording more statements is still underway. Mumbai Crime Branch took one of the accused – Vicky Gupta – with them to Tapi river, to locate the gun. Both Vicky and Sagar were arrested last week from Gujarat's Bhuj.

underworld don Chhota Rajan has emerged after nine years, showcasing him in a robust state, reported TOI on Monday. The recent revelation dispelled speculations surrounding his alleged demise during the Covid pandemic or concerns about his health. However, its release has reignited apprehensions of potential attacks on him while incarcerated, prompting heightened vigilance from intelligence agencies. Rajan, presently confined in a high-security cell within Tihar Jail's Jail No. 2, faces looming threats from underworld figures Dawood Ibrahim and Chhota Shakeel. The latter has recurrently issued threats of harm against him while in jail, as per a TOI report.

Garena is in process of fully localising its India operations before launching the blockbuster video game Free Fire in the country. Following the government's nudge for over seven months, Garena is finally moving its game server to India to be installed in Yotta Data Services' Navi Mumbai premises, sources told ET. «Yotta is working with Garena's HQ (headquarter) team on testing the server, which is showing high throughput required for handling streaming workloads with least redundancy,» a person close to the company told ET. «It is important that performance metrics are adequately tested before the game goes to market because esports tournaments put many ecosystem players at stake and therefore should be devoid of any technical snags.»

Supreme Court is scheduled to hear on Monday a plea of a 14-year-old alleged rape victim, seeking termination of her 28-week pregnancy. As per the apex court's website, a bench of Chief Justice D Y Chandrachud and Justice J B Pardiwala will take up her case as the first item on Monday. On April 19, the top court had ordered her medical examination on the plea moved by her mother, challenging the Bombay High Court decision declining to allow the termination of the pregnancy owing to the advanced stage. It had sought a report from Mumbai's Sion hospital about the girl's possible physical and psychological condition if she undergoes medical termination of pregnancy or if she is advised against it.

Apple's two company-owned India outlets, which completed their first year of operations this month, have posted revenue of Rs 190-210 crore each last fiscal year, joining the ranks of the iPhone maker's top-performing retail stores globally. «The two Apple stores have clocked monthly average sales of Rs 16-17 crore each consistently since their launch. The Mumbai store revenue has been a little higher than the Delhi one due to a larger size,» said an industry executive aware of the matter. «It has met Apple's expectations, matching some of the best-performing store launches and they are now aggressively scouting space for the next three company-owned stores.» The US-based company opened the Mumbai store — Apple BKC — on April 18 last year, followed by the one in New Delhi — Apple Saket — two days later. Chief executive Tim Cook had flown to India for the store inaugurations.