City Mumbai Financial News

Mumbai, February 6, 2024: After the resounding success of Shapoorji Pallonji Real Estate’s premium project BKC 28, WSB Real Estate Debt Fund II (WSBREDF II) has invested INR 55 crore in another premium project, BKC 9, situated in Bandra East, Mumbai. BKC 9 is a collaborative effort between Shapoorji Pallonji Real Estate (SPRE) and Vakratunda Realty Private Ltd The WSBREDF-II fund has committed an investment of INR 55 crore to complete the premium project, BKC 9.

NCLT has approved Tata Steel's proposal to withdraw merger with TRF Ltd, according to an exchange filing. On February 7, Tata Steel had said that its board has decided not to pursue the amalgamation of TRF Ltd, as the associate company is witnessing a turnaround in its business performance. «We would like to inform that the National Company Law Tribunal, Mumbai Bench (NCLT), vide its order dated February 8, 2024, has allowed the withdrawal of the scheme,» the steel major said in the filing. Tata Steel had earlier announced the amalgamation of nine of its strategic businesses, including Tata Steel Long Products, Tinplate Company of India, Tata Metaliks, TRF, The Indian Steel & Wire Products, Tata Steel Mining Ltd, S & T Mining Company.

India continues to rise, mirroring ongoing inflationary pressures, higher commodity prices and increased construction costs. The average cost to fit-out workplaces with medium specification across India increased 4.5% from a year ago with the average fit-out cost per sq ft rising to Rs 5,788. Mumbai continues to be the most expensive city in India for office fit outs at an average of Rs 6,588 per sq ft followed by New Delhi at Rs 6,068 per sq ft, showed global property consultant JLL’s Asia Pacific Fit-Out Cost Guide 2023-2024. “India’s supply-chain performance has improved significantly over the last two year, coping better to the global disruption, and varying regulatory frameworks. Largely, input costs have decreased due to reduced global raw material prices, however increasing labour costs remains set on an upward trajectory. This industry is also making efforts to modernise and streamline the supply chain to enhance efficiency and competitiveness,” said James Jipu Jose, Managing Director, Project & Development Services (PDS), India, JLL.

Zee Entertainment Enterprises on Tuesday clarified that it has not indulged in any negotiations with Sony over the merger deal, the company said in an exchange filing. It said, «We would like to clarify that the company has not involved in any negotiations, or any other event as stated in the above-mentioned article, and we categorically confirm that the abovementioned news item is factually incorrect.» «We wish to clarify that the company is not aware of any information that has not been announced to the exchanges which could explain the aforesaid movement in the trading, and we are not in a position to determine the material impact of the above-mentioned article on the company,» it further stated.

Raymond Realty, the realty arm of Raymond Group, announced on February 20 the launch of its first project outside Thane — ‘The Address by GS, Bandra’. This is part of a company plan to expand beyond Thane through joint development agreements in the MMR region. The new project is inspired by the major success of its Thane’s flagship project — ‘The Address by GS’ — which has emerged as Thane's bestseller in premium category and is set to be delivered two years ahead of its timeline, a company filing said.

Entrepreneurs and companies should comply with the rules and laws, irrespective of their size, scale and growth momentum, minister of state for electronics and technology Rajeev Chandrasekhar said on Monday. “I have seen entrepreneurs beginning to trespass because the momentum of entrepreneurship takes them beyond what the regulators have allowed them to do at that particular point in time… even if you are a hard-charging, successful, innovative entrepreneur, you cannot live in denial of the reality that there are rules and laws that have to be complied with, and that applies to big companies, small companies, startups, legacy,” he said at the Mumbai Tech Week.

Byju's Crisis: Union Minister Rajeev Chandrasekhar offered a blunt assessment of Byju's current crisis, attributing it to the company's rapid expansion without adequate corporate governance. "They tried to grow too fast, without the rigour: and discipline a growth company needs, especially when money was easy," he stated, while addressing the Mumbai Tech Week, according to a report by Hindustan Times. The minister emphasized that neglecting these principles, particularly during periods of easy access to capital, creates an unsustainable model.

cricket, Anil Kumble has highlighted an often-overlooked skill that the Mumbai batter has. The former India coach now wants Jaiswal to explore his leg-spin. "Well done on your batting.

Also Read | Union Minister Rajeev Chandrasekhar reacts to Paytm controversy: 'Being FinTech doesn't absolve anybody from...' “We will exploit AI to its fullest for achieving the goals of our economic growth, ensuring that it makes a big impact on healthcare & agriculture among others," said Chandrasekhar during his discussion with Anant Goenka during the Mumbai Tech Week on February 19, as per PIB. Also Read | Rajeev Chandrasekhar on India's digital-first strategy: Innovation, R&D focus, must not be afraid of AI Further expanding on the government's stance on AI, Chandrasekhar added, “We intend to exploit AI to its fullest for achieving the goals of our economic growth, ensuring that AI makes a big impact on healthcare and drug discovery, as well as on agriculture and farmer productivity.

Zee Entertainment Enterprises Ltd (ZEEL) rallied over 7% to the day's high of Rs 192 on Tuesday as the media house re-initiated talks for a merger with Sony Group after the $10 billion deal was cancelled last month. In a fresh dramatic twist, which is no less than an unending soap opera, Zee has re-engaged with Sony Group Corp in a last-ditch attempt to revive their merger,ET reported earlier today. According to the report, representatives from the two sides have held meetings across locations in Mumbai and efforts to salvage the deal have gathered momentum over the last fortnight.

Dilip Asbe, managing director of National Payments Corporation of India (NPCI), is optimistic about the central bank’s new CBDC initiatives.

Mumbai Metropolis Metaverse which will offer an immersive virtual representation of Mumbai. In this 3D map, the government aims to give the people an idea of how Mumbai (MMR) will look in the coming years and the sort of new amenities the city is going to provide to the Mumbaikars.

Rahul Gandhi's Bharat Jodo Nyay Yatra, which started on January 14 from Thoubal in Manipur and will end on March 20 in Mumbai, spanning the country from east to west, was planned with the aim of pre-poll mobilisation of voters. It was expected to repeat the success of Bharat Jodo Yatra which had catapulted Rahul to the top of the news for a long period and positioned him as a leader who had the support of different sections in India. A large number of celebrities and politicians from different parties had joined Rahul to deliver the message that Rahul is a big leader who enjoys widespread support. However, the Nyay Yatra pales in comparison to the previous yatra. Rahul has been isolated as alliance members have been ditching the party during the yatra. How Bharat Jodo Yatra fared

India Tourism Development Corporation Ltd is looking for new business opportunities besides strengthening its existing verticals as it seeks to carry forward the momentum of record financial performance of last fiscal, according to its Managing Director M R Synrem. The company which offers hospitality, travel and tour, events and engineering related consultancy services, plans to strengthen its offices in Mumbai, Chennai and Kolkata with an aim to develop these as regional hubs for its businesses. «We want not to only expand but whatever we have now to take it a notch further ahead, take it much higher and look at new business opportunities also for ITDC as a company,» Synrem told PTI on the sidelines of the launch of the company's new mascot 'Adyant' and a fresh tagline. On the new business opportunities, he said, «We have won a bid for a new duty free shop at the Vizag (Visakhapatnam) airport. We participated in the competitive bid and we have won it. It is a new thing which is coming up very soon.»

India Today. He used a caption for Shruti’s video, which was the primary cause that led to the controversy. ALSO READ: Viral video of Saraswati idol ‘without saree’ sparks protests at Tripura govt college “Indian schools and colleges are well known for organizing ‘Sanskritik karyakram’ and performances based on traditional and regional culture, but now it has become a ‘kotha.’ In the name of cultural events, shaking b**ty on item songs is all they call a cultural program.

In the dynamic landscape of 2024, a select group of visionary brands emerges as the most promising entities to watch. These industry trailblazers, spanning various sectors, have captivated attention through their innovation, resilience, and transformative impact. As catalysts of change, these brands redefine the norms, set new benchmarks, and promise a future where their influence extends far beyond conventional boundaries. The journey of these ten promising brands unfolds as a testament to their commitment to shaping the future and leaving an indelible mark on the business landscape.

Amethi on the same day. The last time the two leaders were in Amethi at the same time was two years ago in February 2022 during the election campaigning for Uttar Pradesh assembly elections. Before that the two leaders crossed each other's paths during 2019 poll campaign.

civil aviation security regulator has asked airlines to deploy adequate manpower within 10 days to ensure passengers don't have to wait more than half an hour to collect their luggage. The Bureau of Civil Aviation Security (BCAS) wrote to airlines on Friday, directing them that the first bag should arrive at the carousel within 10 minutes of the aircraft shutting down the engine and the last bag no later than 30 minutes. In January, BCAS monitored baggage arrival time of all airlines at six metro airports — Delhi, Mumbai, Bengaluru, Hyderabad, Kolkata and Chennai — on a weekly basis and found they did not adhere to the standards set in the Operation, Management and Delivery Agreement. Contractual agreement was signed by Airports Authority of India with Delhi and Mumbai airports during their privatisation in 2006. It defines standards of service that the airports have to provide to passengers. «The above monitoring is currently being done at six major airports, However, BCAS has directed the airlines to ensure that the mandated levels are achieved in all airports where they fly,» the regulator said in a statement.

₹1,00,772.17 per kilolitre in Delhi as of 1 February, 74% higher than in 2019. Going forward, too, airfares are expected to go up, said Ajay Prakash, board member, Faith and president, Travel Agents Federation of India, “The upswing in the demand can be seen with supply falling short of it.

programmability and offline functionality of the central bank digital currency (CBDC) are going to drive the next fintech wave, said National Payments Corporation of India (NPCI) managing director Dilip Asbe. He was speaking at a panel discussion with Jay Kotak, co-head of Kotak811, and MN Srinivasu, co-founder of Bill Desk, at the Mumbai Tech Week on Sunday.

India on Sunday crushed the visiting England team in the third test. In the process, several records were broken, from most number of sixes to India's biggest win in terms of runs. 1) First of all, India broke its own record for most sixes in a Test series by any team, touching a total of 48 big hits in the ongoing three-match series. The team went past its own tally of 47 sixes in three Tests against South Africa at home back in 2019, a series which had three Test matches. With two matches left, India could score a lot more sixes and outdo its previous record by a huge margin. 2) Debutant Sarfaraz Khan also created a record. He had a memorable debut in the international arena during the third Test against England, becoming the only fourth Indian to score twin half-centuries on Test debut. In the match, Sarfaraz played a highly-attacking game, taking the spinners to attack. In the first innings, he scored 62 in 66 balls, with nine fours and a six. In the second innings, he scored 68* in 72 balls, with six fours and three sixes.