City Mumbai Financial News

accidental Indian captain who matched the peerless Vijay Hazare stroke for stroke with a cover drive to die for, Dattajirao Gaekwad should have played more than 11 Tests, given the talent this remarkable player from Baroda possessed. On Tuesday, Gaekwad died in his hometown Baroda at the age of 95. Statistically, he was the oldest living Indian Test cricketer since the death of Deepak Shodhan in 2016. A nightmare for the Bombay (Mumbai) teams of the 1950s, those cover drives, unfortunately, never really came off when he played at the highest level from 1952 to 1961. His son Aunshuman, who played 40 Tests from the 1970s to the 80s, was more successful with a tight defensive technique compared to his father.

Kasauli is about 290 kilometers away from Delhi and if you are travelling by car, you can reach the spot in 6 to 7 hours. Kasauli, a charming town with colonial allure, captivates with winding roads and lush landscapes. The old-world charm reminiscent of the British colonial era greets visitors, offering a timeless atmosphere and a perfect starting point for road trips from Delhi, thanks to its pleasant climate and poetic beauty.

Creator Festival — Creators United 2024. The event, set for 15 March 2024, is the festival's second edition. The event will be organised collaboratively by Mad Influence in association with the Government of Maharashtra. The festival, which will be held at NESCO, Mumbai, is an exclusive, invite-only event, designed to offer a unique and engaging experience to over 1,000 influencers in addition to brands, agencies, and industry experts who will all come together for a celebration of creativity, innovation, and collaboration. «Celebrating innovation and creativity is essential to Maharashtra's values. As we embrace digital transformation, initiatives like Creators United 2024 play a pivotal role in fostering collaboration and driving economic growth,» Chief Minister of Maharashtra, Eknath Shinde, said in a statement.

Ansari is meeting his fans in Pune, about 90 miles south of Mumbai. He’s selling the dream of stock market riches to India’s fast-growing cadre of small investors. With half a million social media followers, he’s pushing an especially risky strategy: trading stock options, often as all-or-nothing bets on future share prices.

Mumbai Airport to reduce scheduled flights and restrict the movement of business jets during peak hours, aiming to alleviate congestion and improve on-time departures, the Economic Times reported. The decision is expected to impact around 40 flights and disrupt the operations of private jets frequently used by top business houses in the country. The Airport Authority of India (AAI), responsible for air navigation services, has directed the airport to decrease aircraft movement from 46 to 44 during rush hours and from 44 to 42 during non-peak hours.

₹453.4 crore and declared distribution of ₹208.56 crore for the December quarter. The distribution comprises ₹97 crore at ₹2.21 per unit in the form of interest payment on shareholder loan, Non-Convertible Debentures (NCDs) and Compulsory Convertible Debentures (CCDs), ₹108.89 crore at ₹2.48 per unit in the form of repayment of Special Purpose Vehicles (SPV) debt and NCD and the balance ₹2.63 crore at ₹0.06 per unit in the form of interest on fixed deposit.

Reliance Industries (RIL) today become the first listed Indian entity to cross the Rs 20 lakh crore market capitalisation milestone after the stock rallied up to 1.89% to hit fresh 52-week high of Rs 2957.80 on BSE. In the last two weeks alone, the stock's market value has gone up by Rs 1 lakh crore as the Rs 19 lakh crore-level was touched on January 29. So far in the calendar year, the share price of India's most valued stock has gone up by about 14%.

Mumbai-Ahmedabad train corridor also known as 'Bullet train.' Captioning it “Stay tuned for #BulletTrain in Modi 3.0!", Vaishnaw's post ahead of the upcoming elections, seemed like yet another poll promise in the Indian railways, if Prime Minister Narendra Modi and his cabinet is voted back to power for a third straight term, in the upcoming 2024 Lok Sabha Elections. The Mumbai-Ahmedabad corridor has been making steady progress since work began in November 2021.

Israeli Minister of Transport and Road Safety, Miri Regev, paid tribute to the victims of the 26/11 terror attacks at Mumbai's Nariman House on Monday. After laying flowers at a column raised in memory of the 26/11 victims, the minister also interacted with members of the Indian Jewish community at the Keneseth Eliyahoo Synagogue. In one of the deadliest terror attacks to have been perpetrated on Indian soil, 10 members of Pakistan-based Lashkar-e-Taiba infiltrated India's commercial capital by the sea on the night of November 26, 2008, opening fire on unarmed civilians at some prominent public spaces across Mumbai.

NCLT) has admitted Sporta Technologies, which owns India’s largest fantasy sports platform Dream11, under the corporate insolvency resolution process (CIRP) on an application filed by the resolution professional of Reward Solutions. The tribunal appointed Madan Bajrang Lal Vaishnawa as the interim resolution professional to conduct the insolvency resolution process. Piyush Jani, the resolution professional for Reward Solutions, had approached the NCLT to initiate insolvency proceedings against Sporta after the company defaulted on its dues of about Rs 7.61 crore.

Namo Grand Central Park has finally been made available to the public. Built at Thane, Mumbai, this park is Maharashtra’s first-ever central park. It is also touted to be one of the biggest urban parks in India. Spread over 20 acres, and hosting more than 3,500 trees, this breathtakingly beautiful park was inaugurated by the state’s Chief Minister Eknath Shinde on Thursday. “This is the state’s first central park has over 3,500 trees and has been designed to accommodate more plantations that will attract various species of birds and butterflies here,” he said.

TruDoc Healthcare, the GCC's telehealth and virtual care provider, has acquired Mumbai-based chronic disease management platform Wellthy Therapeutics, according to a company statement. Wellthy Therapeutics, a digital therapeutics (DTx) company, develops and deploys digital therapeutic candidates for commercialisation in indications across cardiology, nephrology and diabetes. It helps medication and health brands achieve their commercial goals by building and launching customised digital health solutions, powered by its disease-agnostic, modular, software-as-a-medical-device (SaMD) platform, according to the company website.

Gadkari on Monday said electric bus will be started by laying electric cable on the Delhi-Mumbai Express National Highway and the distance from Delhi to Jaipur will be covered in two hours and its fare will be 30 per cent less than a diesel bus. Addressing the inauguration and foundation stone laying ceremony of 17 road projects with an investment of more than Rs 2,500 crore in Udaipur to accelerate Mewar's development, Gadkari said, «I believe that from Bandikui to Jaipur for Rs 1,370 crore, we are constructing a 67-kilometer four-lane expressway.» «This work will be completed by November 2024 and after that, I assure you that the journey from Delhi to Jaipur will be within two hours,» he added. Gadkari said the Delhi-Mumbai express highway is the first in Asia and the second in the world on which we have built an animal overpass so that animals do not have to cross the road.

Yotta Data Services and its subsidiary NMDC Data Centre have raised over Rs 1,357 crore through a long-term secured loan from State Bank of India. The company has raised this debt against its two data centres in Navi Mumbai by hypothecating the assets in favour of the bank. Certain receivables from the company’s data centre in Mumbai’s central suburb Powai have also been pledged to secure this loan. The debt includes an issue of 80,000 non-convertible debentures (NCDs) worth Rs 800 crore to the country’s largest bank. The debt will provide 8.85% return on investment to SBI with a total term of 12 years.

Shirdi, which could result in a surge in ridership as a result. This announcement was made during his participation in the inauguration of the refurbished Mela Bus terminus of the Maharashtra State Road Transport Corporation (MSRTC) in Nashik. Originally, the Nashik-Pune semi-high-speed rail project intended to traverse Nashik-Sangamner-Pune, spanning a distance of 235 km, with an estimated cost of Rs 16,000 crore. The Nashik-Pune semi-high-speed rail project is being implemented by Maharashtra Rail Infrastructure Development Corporation Limited, a joint venture between the Government of Maharashtra and the Ministry of Railways. The alteration in the route to include Shirdi adds an additional 30 km to the Nashik-Pune route. Fadnavis explained that discussions with Railway Minister Ashwini Vaishnaw revealed that the initial route would escalate project costs substantially due to extensive tunneling requirements, a challenge alleviated by the new route.

Congress leader Ashok Chavan has resigned from the Congress party, the senior Congress leader is likely to soon join the Bharatiya Janata party. Chavan wrote a two line letter to state Congress Chief Nana Patole saying, “I have resigned from the primary membership of the Indian National Congress party on 12-2-2024.” Significantly in Chavan’s two line resignation also indicated that he has resigned as a Congress MLA too, as in his letter to Patole he has identified himself as a ‘former’ MLA from Bhokar. There is talk that Chavan could either be the Rajya Sabha candidate from the BJP or stand in the Lok Sabha polls on a BJP ticket.

UP Board examinations starting from February 22, the Bharat Jodo Nyay Yatra will remain in Uttar Pradesh from February 16 to February 21." Awasthi also added that earlier, Rahul Gandhi had cancelled his rallies in Bengal out of concern for the people during the Covid-19 period. He also said that the Bharat Jodo Nyay Yatra will enter the state through Varanasi on February 16, and reach Amethi on February 19 via Bhadohi, Prayagraj and Pratapgarh. On February 19, Gandhi will address a public meeting in Gauriganj in Amethi Lok Sabha constituency, The next day, on February 20, the yatra will reach Rae Bareli.

Hard Sell The bosses at the Indian outpost of this multinational giant have been trying really hard to sell a ritzy property that used to belong to this tycoon who’s proven hard to get (to India) for the past seven-eight years. He’s currently dodging regulators for some apparently serious misconduct. Anyway, the company got ownership of the pile when they took over most of the tycoon’s business. But here’s the kicker: nobody wants it! Despite its posh location in south Mumbai, potential buyers are giving it a wide berth. Local brokers are whispering that folks are spooked by what they say is its jinxed history. Maybe. Or, is the tycoon pulling the strings from across the seas? ETA Awaited A high-flying minister was recently irked by the pace of a critical project. The government wants it completed quickly but the squabbling between the two parties building the facility threatens to slow things down even more. The minister’s irritation was barely concealed at a recent meeting as he asked tough questions and made clear his impatience with the answers. Here’s hoping the words landed and the project takes off soon.

₹6,263 per gram, according to the Reserve Bank of India (RBI). The Scheme will be open for subscription until 16 February. The Sovereign Gold Bond Scheme 2023-24 - Series IV will be open for subscription during February 12–16, 2024.

Student accommodation platform Amber has raised $21 million in its first round of institutional funding, led by Mumbai-based private equity firm Gaja Capital. The round comprises $18.5 million in fresh equity and the remaining in venture debt from Lighthouse Canton and Stride Ventures.

MUMBAI : Small investors have been hit hard by the plunge in shares of One97 Communications (Paytm) since the Reserve Bank of India issued curbs on associate Paytm Payments Bank over repeated non-compliance with regulations. Retail investors sharply hiked their stake in Paytm to 12.85% during the December quarter from 8.28% in the preceding three months. Market experts believe that in the absence of clarity on the fate of the payment bank’s operations, the near-term outlook for the company remains bleak.