City Mumbai Financial News

Bandhan Bank has acquired 12 offices spread across two floors in a commercial tower in Mumbai’s business district Bandra-Kurla Complex (BKC) on an outright basis for more than Rs 135.64 crore. The bank has picked up these commercial offices in INS Tower in BKC from four different sellers — Suraksha Realty, Neostone Developers, Orbit Enterprises, and Veera Associates. The bank has picked up the new office space as part of its growth and expansion strategy. It is expected to use this new space, which is nearly four times bigger than the current office in BKC’s Platina tower, as its Mumbai corporate office.

₹19,421.3 crore as of 31 March 2023, according to regulatory disclosures. “We are focused on supporting our customers and where they want us to be, so we are looking into setting up a Gift City branch. Our customers are going to have operations in Gift City and that’s where we want to be to support them and their flows," Vasic said.

Akasa Air will operate four non-stop flights a week, connecting Mumbai with Doha, enhancing air connectivity between Qatar and India," the airline said in a release. Bookings for flights are now open on Akasa Air’s website www.akasaair.com, Android and iOS app and through multiple leading OTAs, with return fares starting at ₹29012. With this, Akasa Air becomes the first Indian airline to fly overseas in a record period of 19 months since its inception.

Hyundai Motor India is taking a significant leap towards making electric vehicles more accessible across the country. The company has recently expanded its ultra-fast EV charging network by setting up 11 new charging stations in various cities and along major highways. These new charging stations are strategically placed to benefit cities like Mumbai, Pune, Ahmedabad, Hyderabad, Gurugram, and Bangalore. They are also located along highways such as Delhi-Chandigarh, Delhi-Jaipur, Hyderabad-Vijayawada, Mumbai-Surat, and Mumbai-Nashik. The aim of these charging stations is to provide quick and convenient charging options for electric vehicle owners. Most of them operate 24/7, catering to both city dwellers and long-distance travelers. The charging stations utilize advanced technology that enables vehicles to be charged rapidly and efficiently. For example, the Hyundai IONIQ 5, one of Hyundai's electric vehicle models, can be charged from 10% to 80% in just 21 minutes using these chargers. To make the charging process even more convenient, customers can use the MyHyundai app. The app allows users to discover charging stations, navigate to them, pre-book charging slots, make digital payments, and monitor the charging status. Looking ahead, Hyundai plans to further expand its ultra-fast charging network to 10 or more new locations by 2024. Additionally, as part of an agreement with the Government of Tamil Nadu, Hyundai aims to install 100 charging stations by 2027.

₹12 lakh to colocate a (full rack) server in its data centre, plus connectivity charges and taxes. The exchange started the colocation facility in 2009 so that brokers located in, say, Mumbai and Chennai would get data feeds at the same time, despite the Mumbai broker being closer to the exchange’s servers. Interestingly, exchange data shows that colocation-based trades accounted for 60.7% of gross turnover in April-December 2023, up 247 basis points (bps) from a year earlier, followed by mobile-based trade at 17.6% (up 22 bps), Internet-based trades at 8.9% (down 106 bps) and algo trades 1.1% (up 45 bps).

Mumbai: Large private sector banks such as ICICI Bank, HDFC Bank, and Axis Bank have informally agreed among themselves not to poach employees from each other, as they seek to stem attrition, particularly at the junior level. Senior executives in these private banks have told Mint that they are ensuring that candidates with less than 2 years of work experience are not hired from a rival lender. “We did have attrition which is very high at the junior level.

MUMBAI : Senior BJP leader Subramanian Swamy on Thursday moved the Delhi High Court alleging a scam of nearly ₹5,100 crore in the way Axis Bank sold and purchased shares of insurer Max Life Insurance Company. Max Life is a joint venture between Max Financial Services and private lender Axis Bank. On 6 February, the Insurance Regulatory and Development Authority of India (Irdai) approved Axis Bank’s proposal to purchase another 7% in Max Life for ₹1,612 crore.

Top developers are entering new markets for residential projects, as rising urbanization and an expanding middle class fuel a housing boom. Developers are exploring opportunities particularly in cities such as Hyderabad, Pune, Bengaluru and Gurugram that have seen high sales. Mumbai-based Godrej Properties Ltd this week acquired 12.5 acres in Hyderabad’s Rajendra Nagar locality to develop a premium residential project, marking its entry into the city.

MUMBAI : Promoters of mining and resources major Vedanta Ltd offloaded 1.76% stake in the company for ₹1,737 crore on Thursday through a bulk deal on BSE, data show. The stake was sold by Finsider International Co. Ltd, a promoter entity, for a weighted average price of ₹265.14 per share.

Tata Group is considering a potential spinoff of its battery business, according to people familiar with the matter, as the Indian conglomerate expands its foray in the country’s renewable-energy and electric-vehicle sectors. Tata is in the early stage of discussions about eventually breaking out Agratas Energy Storage Solutions Pvt as an independent unit, the people said, asking not to be identified because the matter is private. Such a structure would allow the battery business to raise funds and go public in Mumbai at a later stage, the people said.

₹300 trillion. So, if both states have about the same—9.2% and 9.1%—shares of the Indian economy, that’s about ₹27 trillion each.

₹10 each, according to the company's Draft Red Herring Prospectus (DRHP). The IPO does not have any offer-for-sale (OFS) component. Ullu Digital has reserved a portion of 3,15,600 equity shares of face value of Rs.

Mayank Shah, VP, Parle Products, says “we have changed along with the city, hand in hand. Bombay has evolved into a mega metro today from what it used to be. Of course, it used to be an important city earlier as well but the way it has grown today is the same way even the company has grown. So, probably 20 years back, we had very limited products, very limited options. We are available in limited categories. Today, we have more than 50 brands and more than 350 SKUs straddling across multiple categories.” On premiumisation of products Mayank Shah: We have an entire range of premium products called Platina, where we have Milano, Hide & Seek, Nutricrunch, and all of them and they are doing very well. So, as India is growing, as our economy is developing and growing, I think Indians have started accepting premium products or rather have started spending on premium products and the Platina range is doing very well.

technology, business and entrepreneurship with the creative arts as part of its curriculum for future-ready design professionals, the institute said. BITS Pilani on Thursday announced a foray into design education with the launch of BITS Design School in Mumbai. The school will combine technology, business and entrepreneurship with the creative arts as part of its curriculum for future-ready design professionals, the institute said in a statement.

MUMBAI: Ravi Kant Jaipuria’s RJ Corp acquired 1.07% or 2.8 million shares of Delhi-based Global Health through an open market transaction for 379 crore.

NEW DELHI : India’s aircraft maintenance, repair, and overhaul (MRO) units have sought a reduction in rental rates at which the government renews their land leases, Mint has learnt. “The industry has sought intervention by the civil aviation ministry on lease rentals for the MRO industry. The norms state that a new allotment of Airports Authority of India (AAI) land is approved at 40% of prevailing land lease rates for MRO companies.

Tata Group has initiated discussions with Uber Technologies to forge a strategic partnership with an aim to bump up traffic volumes and engagement on Tata's digital platform, said people with knowledge of the matter. The collaboration could entail integrating Uber's services as an 'anchor app' within that ecosystem. Tata Neu, positioned as a 'super app', has encountered challenges, including stagnation in user growth and low customer engagement, said people aware of the matter. Uber Technologies CEO Dara Khosrowshahi met Tata Sons chairman N Chandrasekaran in Davos earlier this year and they're expected to talk again in Mumbai during the former's upcoming India trip to discuss the broad contours of a potential alliance, executives aware of the matter said. The exact terms of engagement are still being worked out and there's no guarantee it will lead to anything concrete. Tata Digital, which runs Tata Neu, denied that any talks are ongoing. Uber did not respond to ET's queries.

National Company Law Appellate Tribunal on Wednesday stayed the NCLT Mumbai bench order to initiate a corporate Insolvency Resolution Process (CIRP) against Sporta Technologies, which operates the fantasy sports platform Dream 11. However, it has also directed the Interim Resolution Professional (IRP), appointed by the National Company Law Tribunal (NCLT) after suspending the board of Dream 11, not to take any further steps till the next date of hearing, scheduled for February 23. A three-member bench of the appellate tribunal also issued notice to the IRP of Sporta Technologies and Resolution Professional of Reward Business Solution, directing them to file a reply within a week. «List this Appeal on 23.02.2024,» the National Company Law Appellate Tribunal (NCLAT) order said, adding that «In the meantime, the order impugned shall remain stayed. No steps, till the next date shall be taken by the IRP in the CIRP».

₹1,800 crore and is entirely a fresh issue. Also read: Ixigo's parent Le Travenues Technology refiles draft papers with SEBI to raise funds via IPO Juniper Hotels stands as a leading luxury hotel development and ownership entity, boasting the largest ownership share, by the number of keys, of 'Hyatt' affiliated hotels in India as of September 30, 2023.

₹17.75 apiece to the current market price of ₹781, delivering a staggering return of nearly 4300%. Also Read: Indian stock market to see record inflows as India-China weight gap in MSCI Index narrows to historic low During this period, an investment of ₹10,000 would have turned into over ₹4.4 lakh. Impressively, out of the last 45 months (including February), the stock ended 28 in the green.

Radisson Hotel Group said on Wednesday it has 'accelerated' its growth in India by signing 21 hotels in 2023, under its portfolio of nine brands. The chain said it has marked its foray into the South Asian luxury market by signing the first Radisson Collection in India. The group also announced the signing and opening of the first internationally branded hotel in Ayodhya, the Park Inn by Radisson Ayodhya.