City Mumbai Financial News

Sanjay Raut on Tuesday said the Maha Vikas Aghadi (MVA) is still interested in holding seat-sharing talks with the Prakash Ambedkar-led Vanchit Bahujan Aghadi (VBA), which has already declared candidates for several Lok Sabha seats. Talking to reporters, Raut reiterated his demand to scrap electronic voting machines (EVMs) and conduct polls on ballot papers, claiming that the BJP will bear the brunt if polling is not conducted on EVMs. Prakash Ambedkar was in talks with the MVA, comprising the Congress, the Nationalist Congress (Sharadchandra Pawar) and the Shiv Sena (UBT), for the Lok Sabha polls but recently announced candidates for 20 out of 48 seats. The Sena (UBT) leader claimed that Ambedkar's party stopped talks with the MVA, which had given it a proposal for five seats, including Akola, Ramtek, Dhule and a seat in Mumbai.

India has asked global and domestic trade houses to avoid buying new-season wheat from local farmers to help the government-backed Food Corporation of India (FCI) procure large quantities to shore up its depleting reserves, sources said. India, the world's biggest wheat consumer and grower after China, banned exports in 2022 and is keen to bolster stocks and tame prices that surged after dry weather hurt output in 2022 and 2023. Rising wheat prices forced the government to sell record quantities to boost local supplies, leading to a drawdown in reserves essential for the world's biggest food welfare programme, which entitles nearly 800 million to free grain.

NEW DELHI : The Bureau of Civil Aviation and Security is examining the implications of artificial intelligence and other emerging technologies as part of its efforts to safeguard against cyber threats, a top official said. "New technologies come with new challenges. We are examining AI, we are consulting some experts also," BCAS director general Zulfiquar Hasan said, speaking on the sidelines of the 38th Raising Day of the Bureau of Civil Aviation Services.

Also Read: ADIA, Kotak to invest ₹2,001 crore in Prestige Group’s four housing projects In FY24, the Nifty Realty index emerged as the top-performing sectoral index, recording a fabulous return of 132%. The majority of stocks within the index experienced significant growth over the last financial year. Among the 10 constituents of the index, six saw multibagger returns, with Sobha leading the pack with a remarkable rally of 235%.

Traya has raised Rs 75 crore in funding from Mumbai-based private equity fund Xponentia Capital. The firm offers a range of products targeting issues like hair loss. Previous to this, Traya has raised about $3 million from the likes of Fireside Ventures, Stride Ventures, Kae Capital and Whiteboard Capital.

ESG practices are considered pivotal for business sustainability and community engagement. Consumers are increasingly favouring socially conscious brands, providing a competitive edge for MSMEs embracing sustainability.

The price change in 24 carat gold in the last one week has been -0.51% .whereas in the last month it has been -6.5%. The cost of silver is Rs.78700.0 per kg up by Rs.800.0 per kg. Gold Rate Today in Delhi is ₹69968.0/10 grams.

jewellers at Mumbai’s Zaveri Bazaar, who said the rise in prices is keeping customers away. Demand crashed 70% in the March quarter, according to them. However, they’re optimistic about a recovery in sales with Akshay Tritiya, an auspicious occasion for buying gold, coming up early next month. Zaveri Bazaar is Asia’s biggest gold market and has a daily turnover of `. 450- 500 crore. “The constant rise in prices has dented demand in a big way in this quarter,” said Surendra Mehta, national secretary of the India Bullion & Jewellers Association (IBJA). “According to our estimate, demand for gold jewellery at Zaveri Bazaar has fallen by 70%” in the March quarter, compared with October-December 2023.

₹25 lakh. Currently, India has 10 SFBs, many of which started their journey as microfinance institutions or MFIs. “One of the suggestions was to replicate the cooperative bank strategy, where it is called just a bank, and the word ‘cooperative bank’ is mentioned below the name," said the chief executive officer (CEO) of an SFB who attended the meeting with the RBI officials.

MUMBAI : In late evening circulars stock exchanges NSE and BSE directed their member-brokers to take note of the Reserve Bank of India (RBI) notification of 5 January on hedging of foreign exchange risk, which restricts the use of exchange traded currency derivatives (ETCD) to hedging only from 5 April onwards. The circulars , according to some brokers, could spell the end of the 16-year-old ETCD as most of those who infuse liquidity into the market—proprietary and retail clients—act as counterparties to hedgers.

Mumbai: Lauding the Reserve Bank of India (RBI) for its astute management of the country’s financial system at an event on Monday to mark the central bank’s 90th anniversary, Prime Minister Narendra Modi laid out a roadmap for the next 10 years, saying India would need to become economically self-reliant to shield itself from external shocks. Making the rupee more internationally accepted, increasing the reach of banking services and scaling up digital transactions would be key focus areas, Modi said.

Construction of Affordable and Mid-Income Housing Projects (SWAMIH I), has invested around Rs 300 crore in realty developer Hubtown’s residential project in Ghatkopar suburb of Mumbai, said persons with direct knowledge of the development. The project, Rising City, is near the Eastern Express Highway and it consists of six towers with a total of more than 700 apartments, of which 550 apartments are already sold. “The definitive documents for the financing transaction were registered a few days ago and the first tranche of the funds have already been deployed for the purpose of the project completion that will provide relief to more than 550 homebuyers awaiting delivery of their apartments,” said one of the persons mentioned above.

₹421 crore for the project. In a recent filing with the stock exchange, the hospitality major announced that its Board has granted approval for the development of an Oberoi Luxury Resort, slated to occupy a 52-acre site at Cavelossim Beach in South Goa. Also read: FY25 Outlook: Hotels to see revenue growth of 9-11%, a 3rd straight Year of growth- CareEdge According to project specifications, the luxury resort will feature 90 rooms and suites, targeting both domestic and international travelers, the company disclosed to the exchanges.

It is time that gives the long-term investor an advantage, says Utpal Sheth, CEO of Rare Enterprises— the Mumbai based private equity firm that manages assets of more than $1 billion. “I would say 80-90% of market participants are in it for less than a year. As an investor, if you have the conviction and courage to stick around for the long term, most of your competition automatically reduces." adds Sheth, noting that most people do not have the commitment for long-term investments.

RBI Celebrates 90 Years: Prime Minister Narendra Modi on April 1 praised the widespread adoption of UPI and stressed the importance of the Reserve Bank of India (RBI) focusing on promoting digital transactions and financial inclusion over the next decade. The prime minister was delivering the keynote address at the central bank's 90th anniversary event today in Mumbai. Also present were RBI Governor Shaktikanta Das and Finance Minister Nirmala Sitharaman.

Bollywood, cricket and food because they add fun to his job, not just the policy work but connecting with people. Politicians, according to him, come and go, but personal connections last a lifetime.

BENGALURU : The Abu Dhabi Investment Authority (ADIA) and Kotak AIF will invest ₹2,001 crore in four residential projects by real estate developer Prestige Group. The funds will be used to develop projects in Delhi, Mumbai, Bengaluru, and Goa. This investment marks ADIA's maiden venture into India's residential real estate market, expanding beyond its previous commitments in commercial office spaces.

₹30.5- ₹32.0 across the four metros. The reduction in prices comes ahead of the Lok Sabha elections which are scheduled to start on 19 April. In the national capital, the 19-kg commercial cooking gas cylinder is priced at ₹1,764.50, lower by ₹30.5.

The price change in 24 carat gold in the last one week has been -1.46% .whereas in the last month it has been -6.23%. The cost of silver is Rs.77900.0 per kg up by Rs.100.0 per kg. Gold Rate Today in Delhi is ₹69471.0/10 grams.

Crew Box Office Collection Day 3: Bollywood movie 'Crew', starring Tabu, Kareena Kapoor Khan and Kriti Sanon, was released in theatres on Friday, March 29. The box office collection figures of Day 3 indicate a surge in collection in domestic business against the previous day's numbers. According to film industry tracker Sacnilk, the film minted ₹29.25 crore net during its three-day run in theatres.

Nirmala Sitharaman will also be address the event. In a post on X, the RBI Governor wrote, “RBI enters its 90th year today.