City Mumbai Financial News

Subscribe to enjoy similar stories. The rupee’s fall to a historic low against the US dollar on Wednesday has left one segment of companies cheering – India’s $283 billion information technology (IT) sector. The rupee plunged to 90.29 against the dollar before closing at 90.19, marking a fall of 5.4% since the start of the fiscal year.

Subscribe to enjoy similar stories. MUMBAI : NRB Bearings Ltd, India’s largest maker of needle roller bearings, signalled one of the most defining shifts in its nearly six-decade history with the announcement of a strategic joint venture with Italy-based Unitec Group on 1 December. The partnership marks the company’s formal entry into industrial cylindrical roller bearings—an expansion long envisioned by chairperson and managing director Harshbeena Zaveri, but delayed due to factors rooted in her family’s business legacy.

Subscribe to enjoy similar stories. MUMBAI: The Reserve Bank of India (RBI) has issued guidelines for how banks can offer services through digital channels, following industry feedback on the draft guidelines issued in July. Coming into force on 1 January 2026, these rules tighten approvals for banks, raise compliance and customer-protection requirements, and strengthen disclosure and grievance-redressal standards.

Subscribe to enjoy similar stories. MUMBAI : Sophisticated, high-risk investments are no longer confined to the rich in metropolitan cities.

Subscribe to enjoy similar stories. Non-Resident Indians (NRIs) have long looked to India’s mutual funds for wealth creation — but taxation on capital gains remained a grey area. Recent rulings by the Income Tax Appellate Tribunal (ITAT) have now brought meaningful clarity: NRIs in countries with favourable Double Taxation Avoidance Agreements (DTAAs) may be taxed only in their country of residence, not in India.

Subscribe to enjoy similar stories. BENGALURU: Property developer Address Maker has struck a ₹200 crore private credit deal with AI Growth Pvt. Ltd (AIGPL) to help with its projects, purchase of land and plans to enter new markets, top executives of both companies said.

Subscribe to enjoy similar stories. MUMBAI : Fireside Ventures has closed its fourth consumer-focused fund at $253 million with a more diverse base of investors, or limited partners (LPs), to continue backing early-stage startups in India, a top official at the investment firm said. “In this fund, we have a 50-50 split between domestic and global investors.

NIA judge hearing the 2008 Malegaon blasts case, Judge AK Lahoti, has been named in the general transfer list of district judges released by the Bombay High Court. The lawyer representing the families of the blast victims had earlier written to the Chief Justice of Bombay High Court, urging his intervention to retain Judge Lahoti in Mumbai. Judge AK Lahoti has been transferred from the Mumbai court to Nashik. The general transfer list released by the Bombay HC names more than 200 district judges. The judges are directed to assume office on June 9, after the court reopens for summer vacation. Earlier, on March 20, the lawyer representing the victims' families wrote to Bombay Chief Justice Alok Aradhe urging his intervention to retain Judge Lahoti, as the arguments on the 2008 Malegaon case are almost over. «The present letter is a sincere request on behalf of the victims to retain the Hon'ble Special Judge Shri A K Lahoti at the Hon'ble City Civil and Sessions Court for Greater Bombay, at Mumbai,» read the lawyer's letter.

Mumbai: A sessions court here on Saturday dismissed former Maharashtra minister Dhananjay Munde's appeal against an interim order of a magistrate, directing him to pay maintenance to a woman, who claims to be his first wife. The appeal by Munde, an NCP legislator, was dismissed by additional sessions judge Shaikh Akbar Shaikh Jafar. The detailed order was not available yet. The Nationalist Congress Party leader had claimed in his appeal that he was never married to Karuna Munde, the applicant. The magistrate did not apply his mind and passed an arbitrary order, he had argued. The Bandra magistrate court on February 4 had partly allowed Karuna Munde's plea and directed Dhananjay Munde to pay Rs 1,25,000 per month to her and Rs 75,000 per month to their daughter as interim maintenance. The magistrate had also refused to accept the former state minister's contention that he was not married to the woman.

Kunal Kamra failed to appear before the Mumbai police on Saturday in connection with a case registered against him for allegedly passing a «traitor» jibe at Maharashtra Deputy Chief Minister Eknath Shinde, an official said. This is the third time Kamra has given police summons a miss, the official said. The Khar police booked Kamra on a complaint by Shiv Sena MLA Murji Patel for allegedly making defamatory remarks against the deputy chief minister during a show. Kamra shot a video lampooning Shinde over the split in the Shiv Sena, and party workers later ransacked the studio and the hotel in which it is located on the night of March 23. The official said the Mumbai police asked Kamra to appear before it on April 5, issuing summons to him for the third time. Earlier this week, a team from the Khar police visited his residence in Mahim after he skipped the second summons.

Tata Motors has announced that it will convene a meeting of its equity shareholders on May 6, to vote on a proposed Composite Scheme of Arrangement involving the reorganization of its commercial and passenger vehicle businesses. “We hereby wish to inform that pursuant to the Order dated March 25, 2025, (“Order”) the Hon’ble National Company Law Tribunal, Mumbai Bench (“NCLT”) in the Company Scheme Application No. C.A.(CAA)/61/MB/2025, Meeting of the Equity Shareholders of Tata Motors Limited (“the Company”) is scheduled to be held on Tuesday, May 6, 2025 at 3.00 p.m (IST),” Tata Motors said in an exchange filing.

Manoj Kumar, celebrated as 'Bharat Kumar' for his portrayals of patriotic heroes in films such as «Upkar» and «Kranti», was cremated with full state honours and a three-gun salute here on Saturday. Amitabh Bachchan, and Salim Khan were among the prominent personalities from the entertainment industry present at the Pawan Hans crematorium in suburban Juhu. The last rites started at about 11:30 and Kumar's two sons — Vishal and Kunal — lit the funeral pyre of the actor-filmmaker who died on Friday due to age-related issues at Kokilaben Dhirubhai Ambani hospital. He was 87. Abhishek Bachchan, Arbaaz Khan, Subhash Ghai, Anu Malik, Zayed Khan, Prem Chopra and Rajpal Yadav also attended the cremation. A photo of a young Kumar was placed at the entrance of his building premises for everyone to offer their last respects.

Subscribe to enjoy similar stories. MUMBAI : It’s a particularly tough time for employees. The job market is dragging its feet, and global cues offer little reassurance.

Rugby Premier League (RPL), a franchise-based league introduced by Rugby India in collaboration with GMR Sports. GMR Sports holds the commercial rights to the RPL.

Subscribe to enjoy similar stories. Mumbai: A spell of weakness in Asian markets spilled into Indian equities on Friday, sparking a sell-off that swept across sectors. Indian markets that averted a steep fall a day earlier plunged 1.5%, as fears of a US recession and its consequences grew.

Nikhil Kamath shared his thoughts on the growing focus on delivery speed and sustainability as India's GDP per capita and wages increase. He questioned whether delivery wages would remain viable if GDP per capita reached $5,000. Reflecting on consumer behavior, he recounted buying a pair of expensive shoes via quick commerce while traveling. The shoes didn’t fit well, making him regret the purchase. He wondered if there was a limit to average order value and how many consumers in India would forgo in-store experiences for high-value goods. He believes, “Commodity is different from brand.” He used the dabbawalas as an example of an efficient, low-cost delivery system and wondered if modern quick-commerce companies (like those delivering groceries or shoes in 10 minutes) can learn from them as India grows richer and delivery costs rise.

The Andaman Skies is transferring its cargo of crude oil to the Sao Tome and Principe-flagged vessel Ozanno, the sources said. While many buyers have shunned Russian oil since Moscow's invasion of Ukraine in 2022, India and China have remained keen buyers. India is the biggest buyer of seaborne Russian crude, which accounted for about 35% of its crude imports in 2024. However, port authorities last week barred the more than 20-year-old Andaman Skies from entering India's port of Vadinar as its seaworthiness certificate was not issued by an Indian-approved classification agency. The Tanzania-flagged vessel, carrying about 100,000 metric tons (or some 800,000 barrels) of Varandey Russian oil sold by Lukoil from the northern port of Murmansk, is sitting off the port of Mumbai in western India, LSEG shipping data shows.

Salman Khan’s Sikandar has seen a further drop in its earnings. The movie, which released on March 30, has witnessed declining box office collections since Eid. On Thursday, April 3, Sikandar saw a fall of 41.03 percent in its collection. As per Sacnilk, Sikandar grossed Rs 5.75 crore on April 3, bringing its total domestic earnings to Rs 90 crore.

Manoj Kumar, the veteran Indian actor known for his patriotic films, passed away in Mumbai on April 4. He was 86. The actor was admitted to Kokilaben Dhirubhai Ambani Hospital since February 21. He suffered a massive heart attack and had been under treatment for decompensated liver cirrhosis. According to a family member, the cremation will take place at Pavan Hans Crematorium in Mumbai on Saturday in the presence of close family members.

Manoj Kumar, the legendary actor and filmmaker celebrated for his patriotic roles, passed away at the age of 87. Fondly known as «Bharat Kumar,» he breathed his last at 4:03 am on April 4, 2025, at Kokilaben Dhirubhai Ambani Hospital in Mumbai. He was admitted to the hospital on February 21, 2025, and has since been under medical care.

Subscribe to enjoy similar stories. MUMBAI : Indian equities outperformed their Asian peers on Thursday, the day US President Donald Trump announced sweeping new tariffs that threaten to destabilize the world trade order. However, Siddhartha Bhaiya, managing director and chief investment officer of Aequitas Investment Consultancy, thinks a one-day reaction barely scratches the surface of the move’s impact.