City Mumbai Financial News

Main Atal Hoon Box Office Collection Day 1: Pankaj Tripathi’s movie, Main Atal Hoon, opened with a lukewarm response at the box office. The biopic of former Prime Minister Atal Bihari Vajpayee, directed by Ravi Jadhav, earned ₹1 crore on its release day. The morning shows of the Bollywood movie had 6.11% occupancy, the afternoon shows 8.28% and the evening shows 8.28%.

MUMBAI : Infrastructure conglomerate Adani Group has released pledged shares worth ₹2,878 crore ($346.2 million) related to four of its companies during the December quarter, BSE data analyzed by Mint showed. The group released a total 28.67 million pledged promoter shares across Adani Enterprises Ltd, Adani Green Energy Ltd, Adani Ports and Special Economic Zone Ltd, and Adani Energy Solutions Ltd. Notably, the group has reduced its pledge positions related to ACC Ltd and Ambuja Cements Ltd to zero, from 11.72% and 100%, respectively.

Mumbai: India's forex reserves jumped $1.634 billion to $618.937 billion for the week ended January 12, the Reserve Bank of India (RBI) said on Friday. In the previous reporting week, the overall reserves had declined sharply by $5.89 billion to $617.3 billion.

ALSO READ: Tata Steel to close Port Talbot blast furnaces in UK; 3,000 jobs at stake: Reports The steelmaker will start a consultation process as part of the restructuring and would try to maximise voluntary redundancies. “The course we are putting forward is difficult, but we believe it is the right one," Tata Steel chief executive TV Narendran said.

UBT) leader and former Mumbai mayor Kishori Pednekar has been summoned by the Enforcement Directorate (ED) on January 25 in connection with the probe into an alleged scam in the purchase of body bags by the Brihanmumbai Municipal Corporation during the COVID-19 pandemic, an official said on Friday. This is the second time that the probe agency has summoned Pednekar for questioning.

₹66 to ₹70 apiece. Konstelec Engineers IPO lot size consists of 1,000 shares. Investors can bid for a minimum of 2,000 shares and in multiples thereof.

Himanta Biswa Sarma was trying to derail the Rahul Gandhi-led Bharat Jodo Nyay Yatra in the state, senior Congress leader Jairam Ramesh alleged on Friday morning. Ramesh, the party's general secretary, asserted that the Yatra will, however, continue with its itinerary in the state for another six days as scheduled. «It is abundantly clear that the Assam CM is rattled and is nervous by the tremendous response being received by the Bharat Jodo Nyay Yatra over the past 2 days in Assam,» he posted on X as the entourage reached Majuli island.

NEW DELHI : Japan International Cooperation Agency (JICA), the country’s development aid agency, is working with India on a roadmap to reduce carbon emissions in the power sector, Saito Mitsunori, the chief representative of the agency’s India Office said. JICA is also in talks with the central and state governments to fund more projects to improve connectivity with Bangladesh, Nepal and Bhutan, Mitsunori said.

The Breakthrough Listen Search for Intelligent Life: Nearby Stars’ Close Encounters with the Brightest Earth Transmissions, Reilly Derrick and Howard Isaacson, 18 April 2023). The calculations are intricate, involving the trajectories of the spacecraft as well as the stars (the “ephemerides" of these objects). In this way, the study found that Pioneer 11 will “encounter" 411 stars in the GCNS, Voyager 2, 325; Voyager 1, 289; Pioneer 10, 241; and New Horizons, 142.

MUMBAI : India should look to grow by at least 7% in 2024-25, sustaining the better-than-anticipated growth in the ongoing financial year, say the authors of an article in the Reserve Bank of India's January bulletin. On 17 January, RBI governor Shaktikanta Das said he expected India's gross domestic product (GDP) growth to touch 7% in FY25.

Reserve Bank has called upon internal ombudsmen of banks, NBFCs, and CICs to provide inputs for enhancing internal systems and processes. As part of the Reserve Bank's continuing engagement with regulated entities, the second Conference of Internal Ombudsmen on the theme 'Orchestrating Customer Delight through an Empowered Internal Ombudsman', was held in Mumbai on January 16, 2024.

Sun Mobility on Thursday said it will power and deploy 30,000 scooters of Bengaluru-based startup Bounce Infinity across key markets. These markets – including Bengaluru and Hyderabad, Mumbai, Pune and Delhi – will see Sun Mobility generate business under both its battery-as-a-service and mobility-as-a-service models.

Reserve Bank of India on Thursday approved the appointment of Rajinder Kumar Babbar as the Executive Director of Bandhan Bank for three years with effect from the date of taking charge. 56-year-old Babbar will take charge three months from now. «The proposal for appointment of Babbar will be placed before the NRC and the Board for consideration and approval, in due course,» the bank said in a release. Babbar is currently the Group Head — Transportation, Infrastructure and Tractor Finance Group at HDFC Bank. He has over 35 years of experience across the banking sector in various leadership roles.

quarter, helped by volume growth and a reduction in costs, said analysts. After clocking double-digit volume expansion in the first half of the year, growth of these companies in Oct-Dec is seen moderating to around 5-6% for most players due to elections in some states, a construction ban in the NCR region and shortage of labor. While the eastern region was an underperformer, northern markets have performed the best, followed by central India, Jefferies said in a pre-earnings note. Growth in Mumbai was average, while southern regions were weak in November-December, it said. Apart from the volume growth, a significant boost to earnings for cement-makers will come from a fall in input costs which is expected to be at its lowest level in seven quarters. Energy costs have seen a sharp decline with the average cost of petcoke down by nearly a fourth as compared to the previous year, while prices of international coal have plunged by more than 60%, Anand Rathi Shares and Stockbrokers said. While the surcharge charged by Railways will see freight costs inch up, the overall costs for cement makers is still seen lower, which along with a marginal improvement in realisations will help the operating profit grow by as much as 45-60% on year, said analysts. Operating margins, meanwhile, are seen almost 450-500 basis points higher as compared to the previous year.

Vande Bharat train over luggage space. As other passengers in the coach watch, the dispute escalates when a woman intervenes to support one of the men.

News18. Recently, low-cost carrier SpiceJet announced that it is set to launch non-stop flights connecting Ayodhya with three Indian cities from February 2024. Spicejet flights will connect Ayodhya with Mumbai, Bengaluru, and Chennai from 1st February.

MUMBAI: The 140.81-crore initial public offering (IPO) of Telangana-based Nova Agritech will open for subscription on January 22 at a price band of 39-41 apiece. The IPO will close on January 25.

₹2.7 crore on IndiGo, Air India, SpiceJet and the Mumbai airport following passenger inconvenience and violation of security norms amid fog-related disruption in air travel over the past few weeks. The regulators have imposed a cumulative penalty of ₹1.2 crore on India's largest airline IndiGo, ₹90 lakh on Mumbai airport and ₹30 lakh each on Air India and SpiceJet.

MUMBAI : Non-bank lender IIFL Finance Wednesday reported a 29% growth in net profit to ₹545 crore for the December quarter on higher loan sales and resultant interest income, cushioning the impact of higher regulatory charges. Overall loan growth jumped 34% to ₹77,444 crore, led by its key products like gold and home loans, which grew 35% and 25% to ₹24,692 crore and ₹25,519 crore, respectively. Microfinance grew higher at 54% to ₹12,090 crore, digital loans soared 96% to ₹3,905 crore, and loans against property jumped 27% to ₹7,862 crore, the company said in a statement.

₹50,000 crore over the next 10 years to set up a 1 GW data centre in Maharashtra. The apples-to-airport conglomerate will invest ₹624 billion in Maharashtra and Telangana as a part of its ₹7-trillion expenditure plan for the next decade, Reuters reported.

₹1.2 crore on IndiGo over the incident wherein passengers were spotted having food on tarmac at Mumbai airport, according to PTI on Wednesday. A penalty of ₹60 lakh was also imposed on Mumbai airport operator MIAL, as per the orders issued by the BCAS.