City Mumbai Financial News

15.12 / 00:59

film Actor hospital stars reports Actor Shreyas Talpade suffers heart attack, undergoes angioplasty; condition stable

heart attack and underwent angioplasty. He is fine now," source close to the actor said as quoted by reported by news agency ANI.

15.12 / 00:35

Provident Align Jayaswal Neco raises ₹3,200 crore debt

MUMBAI : Kotak Strategic Situations India Fund II, managed by Kotak Alternate Asset Managers Ltd, has led a ₹3,200 crore investment in Jayaswal Neco Industries Ltd (JNIL) by purchasing non-convertible debentures (NCDs) issued by the Nagpur-based company. In a statement on Thursday, Kotak Alternate Asset Managers said that KSSF II has invested ₹1,500 crore in JNIL, thus helping the company refinance its existing debt of ₹3,200 crore.

14.12 / 16:05

Highways country Capex on National Highways increased from Rs 51,000 cr in FY14 to Rs 2,40,000 cr in FY23, Parliament told

Lok Sabha, Union Road Transport and Highways minister Nitin Gadkari said budgetary allocation of the road ministry has increased from about Rs 31,130 crore in 2013-14 to Rs 2,70,435 crore in 2023-24. Such increased budgetary allocation led to expansion of the National Highway (NH) network in the country from about 91,287 km in March 2014 to about 1,46,145 km at present, Gadkari added.

14.12 / 15:16

Citi Target Digital Extreme country cover reports Climate change: Why Indians should look at home insurance more seriously

A home is in all likelihood the most expensive asset purchase people make during their lifetime. However, when it comes to adequately protecting this asset, we tend to be targets of optimism bias. It is no surprise that home insurance penetration is just about 1% in India. This is in stark contrast to countries like US, UK, France, Australia and China that have home insurance penetration in the range of 90-97%.

12.12 / 17:39

Digital Progressive Centre RIL, Brookfield Infra, Digital Realty set up data centre JV; first project launch in January

Reliance Industries, infrastructure firm Brookfield Infrastructure and Digital Realty have concluded a transaction to set up a three-way joint venture for data centre services, an official statement said on Tuesday. The three companies entered into an agreement in July 2023 to invest in their existing special purpose vehicle Digital Connexion for developing data centres in India.

12.12 / 15:25

Parke information reports 1,176 km of 1,506-km Western Dedicated Freight Corridor complete: Rail Minister in Rajya Sabha

Railway Minister Ashwini Vaishnaw has informed Rajya Sabha. The Western Dedicated Freight Corridor connecting Jawaharlal Nehru Port Terminal to Dadri passes through Ahmedabad, Gandhinagar, Mehsana, Patan, Banas Kantha, Anand, Kheda, Vadodara, Bharuch, Surat, Valsad and Navsari districts in Gujarat, he said last Friday.

12.12 / 13:41

Provident Waters Parke Highways track country park NHAI, DC Multi Modal Park in deal for ₹673 cr mega logistics park in Nagpur

₹673 crore. This will be first MMLP in Maharashtra under the PM Gati Shakti National Master Plan. The MMLP will be developed in three phases.

12.12 / 10:07

Citi Provident Mobile Metro country cover social KfW to give €500 mn for Bengaluru Metro expansion

Metro Rail Corporation Ltd (BMRCL) to provide €500 million (around ₹4,500 crore) in financial assistance for the expansion of the Bengaluru Metro. The funding, which includes loan and grants, will help the metro’s expansion plans as well as provide technical expertise to the metro project. KfW, which is looking to expand its funding for green energy and sustainable mobility projects in India, is also financing metro projects in Mumbai and Nagpur among other cities.

12.12 / 08:31

Citi Provident country social innovations Hyderabad pips Pune, B'luru among India's best cities in Mercer's quality of living index

Hyderabad with a rank of 153, Pune at 154 and Bengaluru in the 156th position are the three highest placed among Indian cities in Mercer's worldwide quality of living ranking for 2023 which rates Vienna in Austria at the top of the list. Chennai is the fourth Indian city in the list at the 161 spot followed by Mumbai at 164. Kolkata (170) and New Delhi (172). Mercer's Quality of Living data assesses the practicalities of daily life for expatriate employees and their families in assignment locations worldwide. Vienna retained its top position in the list, which was last published in pre-Covid 2019.

12.12 / 04:13

economy Death Lexus show performer electronic reports Desperate retail investors drive India's options craze

The Securities and Exchange Board of India’s crackdown on social-media influencers peddling advice is a losing battle. Although nine out of 10 individual traders are losing money, retail investors can’t get enough of derivatives. A smartphone-led gamification of investing is complete. It wasn’t always like this.

11.12 / 21:41

Citi Provident Booking Mobile Highways country travelers Tata Power, Indian Oil Corp tie up to deploy over 500 EV charging points across India

Tata Power on Monday said its subsidiary Tata Power EV Charging Solutions has inked an agreement with India Oil Corporation Ltd (IOCL) to install more than 500 fast and ultra-fast electric vehicle (EV) charging points across India. Tata Power will install EV charging points across multiple IOCL retail outlets, a statement said.

11.12 / 21:01

FIVE Landmark economy Enterprise Experts testing Sensex marks a new milestone at 70,000

MUMBAI : Driven by foreign institutional inflows, the Sensex hit the 70,000-mark for the first time on Monday, with 70% of its last 10,000-point sprint taking just 31 days. The feat, reflecting the bullish momentum in the markets, was achieved a session after the Nifty 50 tested the 21,000-mark. Both the Sensex and the Nifty closed a tad off their intraday highs, gaining over one-tenth of a per cent each at 69,928.53 and 20,997.10.

11.12 / 21:01

BLOCK Digital Aware Action show information compliance Kalyani firm trains guns on Hikal compliance officer

MUMBAI : The conflict between Bharat Forge Ltd’s promoter Baba N. Kalyani and sister Sugandha Hiremath has escalated with a Kalyani group company requesting the market regulator to order the removal of the compliance officer of Hikal Ltd, a speciality chemicals company jointly owned by the Kalyanis and the Hiremaths. It has also called for action against Hikal’s audit committee.

11.12 / 21:01

Cooper Aware Racing Healthcare hospital reports The race hots up for Aster DM's India business

MUMBAI : Private equity (PE) firm KKR & Co., Canadian pension fund Ontario Teachers’ Pension Plan (OTPP) and Blackstone-backed Care Hospitals have submitted non-binding term sheets to acquire a stake in the Indian business of Aster DM Healthcare Ltd, two people aware of the matter said. One of the two people said Hong Kong-based investment firm BPEA EQT has also presented a term sheet.

11.12 / 21:01

Cooper Action Enterprise Experts show information reports Abhyudaya Cooperative Bank sees threefold rise in wilful defaults in one year

Bank of India (RBI), witnessed a threefold increase in wilful defaults in the past one year to ₹416 crore, according to data from TransUnion Cibil. This surge in defaults may have exacerbated its challenges in the lead-up to regulatory action. These are accounts of ₹25 lakh or more where the bank has initiated legal action for wilful defaults.

11.12 / 21:01

Waters Southern reports Garlic prices double amid dwindling supplies, hit ₹400 per kg in some areas

₹400 per kg in some area — amid a drop in supply. Reports indicate that the popular spice is now selling for ₹300 to ₹400 per kg at some retail markets. Crops were damaged in several areas by unseasonal rainfall during October and November.

11.12 / 16:43

Citi Provident Booking Mobile Highways country travelers Tata Power ties up with Indian Oil to set up 500 EV charging points across India

Tata Power said on Monday that its unit Tata Power EV Charging Solutions Limited has signed a Memorandum of Understanding (MoU) with Indian Oil Corporation Limited (IOCL) to install more than 500 fast and ultra-fast electric vehicle (EV) charging points across India. Tata Power will install EV charging points across multiple IOCL retail outlets, the company said in a statement.

11.12 / 15:59

Waters show performer reports recommendations States should look at asset sales in infra sector to bolster revenues: RBI Report

Mumbai: States' finances improved in FY23, and there is a need to look at asset monetisation to help garner non-tax revenues, a Reserve Bank report said on Monday. In the report on state budgets, which is done annually, the Reserve Bank said road, transport and power sectors hold considerable potential where the states can undertake asset sales.

11.12 / 15:43

Citi IPO Booking band Shree OSFM IPO: Check issue date, price band, GMP and other details

₹24.60 crore from the upcoming public offer. Established in 2006, Shree OSFM E-Mobility Limited, formerly recognized as Om Sai Fleet Management (India) Private Limited, specializes in delivering employee transportation services to prominent multinational corporations (MNCs) with a widespread presence in major cities throughout India. The company has offices in 42 sites in cities like Mumbai, Navi Mumbai, Pune, Bengaluru, and Kolkata.

11.12 / 13:51

Provident Maxim Platform economy Align country innovations Artificial Intelligence Based world's first fully Autonomous Waste Sorting solution

Ahmedabad (Gujarat) [India], December 9: In response to the global imperative for sustainable practices, Ishitva Robotic Systems, headquartered in Ahmedabad, proudly introduced its pioneering waste sorting solution – Sanjivani®. It was unveiled at the Plastvision 2023 exhibition in Mumbai, on 7th December 2023. Sanjivani® represented a groundbreaking advancement in waste management and recycling, poised to redefine industry standards and contribute significantly to India's Make In India initiative.

11.12 / 13:35

Citi Action Experts reports Mumbai NOT Air quality in Mumbai has improved but not satisfactory, says HC; calls for a comprehensive plan

air quality index (AQI) in Mumbai has improved but continues to be moderate and not satisfactory, the Bombay High Court said on Monday, while asking the Maharashtra government to come up with a comprehensive plan to find a final solution to the issue. A division bench of Chief Justice D K Upadhyaya and Justice G S Kulkarni asked the government to take the issue seriously, as lakhs of people continue to suffer because of the air pollution in the city.

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