City Mumbai Financial News

BENGALURU , MUMBAI : The already overheated smallcap market may be in for more turmoil with apparent links to the Mahadev betting scam surfacing. The Enforcement Directorate recently seized the assets of several entities that it believes were used as vehicles to launder illicit money made from the illegal Mahadev Online betting app. Turns out that 13 smallcap companies valued at between ₹63 crore and ₹3,300 crore have more than 1% shares owned by at least four of these entities, according to a review of share ownership by Mint.

Bollywood superstar Amitabh Bachchan could be a reality for those interested. But, it comes with a hefty price tag. In Mumbai's posh Juhu area, a bungalow near Bachchan's famed residence Jalsa will soon be auctioned off.

Shaitaan Box Office Collection Day 5: Supernatural horror-thriller, Shaitaan, witnessed a sharp decline on Monday and the slump continued on Tuesday after performing exceptionally well over the weekend. The Bollywood movie stormed the box office on the day of its release, March 8, and made consistent progress thereafter before its business plunged on day 4 of its release. According to industry tracker Sacnilk, the film raked in ₹61.25 crore net during its five-day theatre run.

Watch: PM Modi flags off 10 new Vande Bharat trains However, city chronicler Bharat Gothoskar said not all names had colonial connections, and one name is in fact derived from a Marathi word for `grazing land'. Shiv Sena MP Rahul Shewale has demanded to change the British-era names of these eight local railway stations- Curry Road, Sandhurst Road, Cotton Green, Dockyard Road, and Kings Circle stations on the Central Railway network. Tamil Nadu: Special mountain toy train in Nilgiris to run from March 29 to July 1 Shewale has demanded renaming the names of eight local railway stations to Lalbaug, Dongari, Kalachowki, Mazgaon, and Tirthkar Parshwanath stations.

MUMBAI : Zee Entertainment Enterprises has rejected the recommendations of proxy advisory firm IiAS, after the latter asked investors to vote against ratifying the appointment of two of the company’s three newly-inducted independent directors. IiAS had recommended investors to vote against the appointment of Venkata Ramana Murthy Pinisetti and Uttam Prakash Agarwal, citing alleged conflict of interest and ongoing criminal charges, respectively. However, a Zee spokesperson told Mint that IiAS’ recommendation was misleading and incorrect.

selloff in mid-cap and small-cap stocks has intensified of late as brokers are asking clients to liquidate their leveraged bets in the space in the wake of the Securities and Exchange Board of India's warning of froth in these shares. The recent crackdown on Dubai-based hawala operator Hari Shankar Tibrewala by the Enforcement Directorate (ED) for stock manipulation has also triggered panic among market operators, who are said to be cutting their positions, said brokers. As many as 70 stocks with more than ₹1,000 crore in market capitalisation have declined between 15% and 50% in the last five trading sessions while another 250 stocks have dropped 10-15% during this period.

New Delhi/Mumbai: Europe’s proposed carbon tax has split the Indian steel industry down the middle, with some companies in favour and others against, even as lobbying to waive or delay the levy continues. The tax, under the carbon border adjustment mechanism (CBAM), would increase costs for Indian steelmakers exporting to Europe, a key destination that is critical for their businesses. The tax has been supported by companies with major operations in Europe, such as Tata Steel.

ALSO READ: Mumbai Coastal Road opens to the public today: Features, toll, route to use, and more. Check details here The Mumbai Coastal Road has been named the 'Dharmaveer Sambhaji Maharaj Coastal Road' after Chhatrapati Sambhaji Maharaj and the inauguration date was selected to be on his death anniversary (March 11).

MUMBAI : It was such a joy to catch One Day (a recent romantic drama)—it seemed so original and refreshing despite being an adaptation," Srishti Singh, a Delhi-based college professor, told Mint, explaining why she likes shows on streaming platform Netflix. “Then I have all-time favourites like The Crown," she added. Singh liked the sixth season of the historical drama on the British royals so much that she even pushed Neha Sharma, her childhood friend, to watch it.

Every year, our employers remind us to start planning our taxes. While taxes are often seen as a financial burden, what can make it even more stressful is a lack of understanding about tax planning. Many taxpayers find it challenging to incorporate tax-saving strategies into their financial plans.

Bank lockers have been an essential part of India’s banking ecosystem for decades. They serve as a secure space for storing valuables ranging from documents to gold and jewellery. India is the second largest consumer of gold in the world, with 22,000 – 25,000 tons of gold in private Indian households, which is 12% of the world’s gold ever mined.

The real estate landscape in Delhi-NCR has witnessed a significant transformation, with the capital city maintaining its status as a thriving center for economic and cultural activities. Simultaneously, the surrounding tier-2 cities have emerged as influential players, particularly in the real estate sector. Among these, Bhiwadi stands out, strategically located on the Rajasthan-Haryana border.

Conducting caste census is our party's guarantee, Congress leader Jairam Ramesh said in Maharashtra's Nandurbar district on Tuesday. «We have given a guarantee that there should be social, economic and caste census,» Ramesh, Congress general secretary and in-charge of communications, told reporters ahead of party leader Rahul Gandhi's Bharat Jodo Nyay Yatra entering Maharashtra on its last leg. «This is our society's X-ray which will show us the population of various castes and their share in our nation's wealth. It will also reflect their stake in our democratic institutions,» the former Union minister said. Nandurbar district is known for its connection with the Nehru-Gandhi family.

inaugurated the first phase of the south Mumbai coastal road between Worli and Marine Drive on March 11. The inauguration was kicked off by the CM flagging off iconic red Brihanmumbai Electric Supply and Transport (BEST) electric buses ferrying women and a vintage car rally on the opened stretch of the road. Named the 'Dharmaveer Sambhaji Maharaj Coastal Road' after Chhatrapati Sambhaji Maharaj, the inauguration date was selected to be on his death anniversary (March 11).

dismissed the State Bank of India's request for an extended deadline to provide electoral bonds data, SBI is now pressed for time to meet the apex court's orders by the end of working hours today (March 12). SBI's management has directed the overseeing department — the transaction banking marketing department based in Mumbai to "hurry up" and "complete the task at the earliest" to meet the SC's deadline, Moneycontrol reported citing sources.

MUMBAI : British American Tobacco (BAT) Plc is preparing for its long-awaited stake sale in ITC Ltd in the next two weeks, two people aware of the matter said. The British multinational plans to sell 4% in the Indian company at ₹380-390 per share, a 5-8% discount to Monday’s closing price of ₹409, the people said on condition of anonymity. Around 499 million shares worth around ₹20,000 crore (over $2.4 billion) are expected to change hands, in the biggest block deal since 2021 when Bosch Ltd saw block deals of ₹29,000 crore for 19.98 million shares.

MUMBAI : Bubbles in the market are not a good thing for retail investors, and mutual funds could form a common policy to protect investors in this respect, the stock market regulator said, at a time of turbulence in an overheated small and mid-cap space. The Securities and Exchange Board of India (Sebi) has already asked for results of stress tests from mutual fund (MF) trustees, stating the time it would take to liquidate portions of investors’ portfolios. “There are pockets of froth...

NEW DELHI : Adani Electricity Mumbai Ltd, Torrent Power Surat, and Torrent Power Ahmedabad have topped in the power ministry’s integrated rating of electricity distribution companies, or discoms, for FY23. Dakshin Gujarat Vij Co. Ltd and Uttar Pradesh Vij Co.

Indian Railways is all set to introduce a second Vande Bharat Express train on Ahmedabad-Mumbai route. The new semi high-speed train will commence its operations from Tuesday (March 12) onwards and Prime Minister Narendra Modi is scheduled to flag it off. 

Adani Electricity Mumbai has topped the chart in the performance ranking of power distribution companies for 2022-23, a statement said on Monday. Torrent Power Surat and Torrent Power Ahmedabad were at second and third spots in the 12th edition of Integrated Rating of Discoms released by Union Minister for Power and New & Renewable Energy R K Singh. As many as 14 out of 55 distribution companies received the highest A+ rating. Utilities of Gujarat, Haryana, Karnataka, Madhya Pradesh and Andhra Pradesh were in A+ / A category, a power ministry release stated. In all, out of the 55 utilities which have been rated, 14 have received a performance rating of A+, 4 have received A, 7 have received B, 13 have received B-, 11 have received C and 6 have received the rating of C-. No utility has received the lowest rating of D, the ministry said.

07 March 2024: HSBC India has successfully concluded the annual HSBC India Business Case programme (HIBCP) aimed at empowering youth for career preparedness. In its 10th edition, the programme, which is designed specially for undergraduate students, witnessed participation from over 3,100 students from 72 undergraduate colleges across the country.