City Mumbai Financial News

Narendra Modi a "Panauti", West Bengal Chief Minister today called PM Modi a «Paapi». She said this while addressing party workers at the Netaji Indoor Stadium in Kolkata.

Narendra Modi on Thursday and said the Indian cricket team won all matches in the ICC World Cup 2023 except the one that was attended by "sinners". “The Indian team played so well that they won all the matches in the World Cup, except the one attended by the sinners," Mamata Banerjee was quoted by news agency PTI as saying, without naming anyone. Her statement came days after Congress leader Rahul Gandhi for calling PM Modi a “panauti (bad luck)", while speaking at a rally in poll-bound Rajasthan on Tuesday.

Prime Minister Narendra Modi participating in a garba dance. The authenticity of the video was initially questioned, with speculation that it might be a deepfake. Prime Minister Modi himself acknowledged the video, expressing doubts about its authenticity. However, it has now been clarified that the video was not a result of deepfake technology but rather a case of mistaken identity and false reporting. The individual in the video is Vikas Mahante, a Mumbai-based businessman and the proprietor of a steel packaging business in Malad. Mahante unintentionally found himself thrust into the limelight due to his resemblance to Prime Minister Modi. His uncanny similarity led to an invitation to London to partake in pre-Diwali festivities within the admirer's family circle. It was during this event that Mahante was mistakenly identified as Modi and filmed participating in the garba dance, causing a significant stir.

Reliance Industries Ltd., has partnered with sports enterprise Sports For All (SFA) to broadcast school-level sports competitions on television and digital platforms. The SFA Championships will be available on Jio Cinema, Sports 18 – 2, and Sports 18 Khel starting 3 December, making grassroots-level sports widely accessible in India. “We endeavour to continue spotlighting school-level talent by including SFA Championships in our portfolio," said Siddharth Sharma, head of content, TV and Digital, Viacom 18 Sports, in a statement.

₹94.33KolkataPETROL (Rs/L) - 106.03DIESEL (Rs/L) - ₹92.76Mumbai CityPETROL (Rs/L) - 106.31DIESEL (Rs/L) - ₹94.27New DelhiPETROL (Rs/L) - 96.72DIESEL (Rs/L) - ₹89.62 Download the App to get 14 days of unlimited access to Mint Premium absolutely free! Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Fire broke out in a 24-storey building in Mumbai on Thursday. As many as 135 people have been evacuated so far, civic officials said.

Mahada Colony building in the Byculla area of Mumbai on Thursday. No injury was reported in the incident, Mumbai Fire Brigade officials said.

Dipan Mehta, Director, Elixir Equities, says “For Mumbai-based realty companies going into NCR is another different game altogether. I do not see too many companies, apart from Godrej Properties, which have successfully created a pan India operation worth mentioning. So we will wait and watch and see how Oberoi’s foray into NCR is shaping up. But nonetheless, I think real estate companies are on a song.” While we spend a lot of time discussing HDFC Bank, Reliance, Zomato and Paytm, we do not perhaps discuss Tube Investment, Carborundum, Chola, EID, Parry. These are the real gems of the south, so to speak. You are absolutely right. These are nice low profile companies. They just get on with their business and deliver exceptional returns. CG Power has been a fantastic multibagger stock and what a fantastic turnaround story it has been and kudos to Tube Investment for identifying this opportunity and buying into it and turning it around so quickly and creating so much value for the shareholders. By and large these are very well managed companies. They have sound capital management policies and they generally do not diversify away from their core operations. They have been market darlings, although they are not that much in the public eye in terms of news flow, but nonetheless they are great performers.

While experts had voiced their concern a few years ago with regards to the unsold inventory levels and impending launches in this specific micro-market, the performance since the outbreak of the pandemic has surprised many of them. The market has witnessed sales of over 722 apartments priced at ₹10 crore and above as against new launches of 532 apartments in the last 12 months, showed data from non-broking research firm Liases Foras Real Estate Rating & Research. «The south and central Mumbai's ultra-luxury housing market has shown almost three times sales growth driven by the segment's new launches. The ultra-luxury segment touched its best-ever inventory overhang in the last 15 years,» said Pankaj Kapoor, managing director, Liases Foras. In 2021, the market comprising south and central Mumbai had a total of 118 months' inventory and the same has now declined to 38 months. «Buyers are active in the market and are very choosy as many developers promised early delivery but did not deliver.

NCLT) has allowed an exclusion of 936 days from computation of the 270 days for the Corporate Insolvency Resolution Process (CIRP) of realty developer Lok Housing and Constructions in one of the highest such exclusions provided to any company so far. As per the bankruptcy regulation, the lenders and the resolution professional are expected to complete the resolution process within a total of 270 days, failing which the Mumbai-based company will undergo mandatory liquidation. With this exclusion, the company’s liquidation is likely to be deferred as the court has granted additional about two and a half years to complete the resolution process. The bankruptcy court usually provides exclusion to companies under insolvency on a case-to-case basis and in this instance, the decision was taken following a plea from its interim resolution professional (IRP). The tribunal had originally admitted the company for insolvency process based on an application filed by healthcare company USV after the developer defaulted on its dues in 2019. The firm has admitted liabilities worth over Rs 621 crore. The resolution professional was appointed in June 2019.

RBI) Governor Shaktikanta Das Wednesday expanded the scope of his oft-repeated ‘Arjuna’ analogy to communicate that Mint Road considers not only inflation but also other factors as policy influencers while emphasising that he was not providing guidance about future actions. Following rapid increases in the policy repo rate by a cumulative 250 basis points from May 2022 to February 2023 to cool inflation, the RBI has held rates steady since. One basis point is a hundredth of a percentage point. “I’m not giving any forward guidance or indication so far as the next monetary policy is concerned, which is coming up on December 8.

MUMBAI : Combined cash market turnover on the stock exchanges has hit a record high this fiscal, but is overshadowed by turnover growth of the derivatives segment, which has doubled to a record high from the previous fiscal, underscoring the retail investor craze for options. The average daily turnover (ADT) on the cash segments of the National Stock Exchange (NSE) and BSE has jumped 26% to an all-time high of ₹72,674 crore so far this fiscal (FY24), from that in the last.

Times of India. According to the report, the affected train details are yet to be released by the Western Railway. To minimize the impact on train service, blocks will be carried out during the night, TOI quoted Chief Public Relations Officer (CPRO) of Western Railway, Sumit Thakur as saying.

Mumbai- Motul, a leading brand and pioneer in fully synthetic premium engine oils for a full range of automobiles, is delighted to launch of its new advertising campaign titled Next Level Thrill, which celebrates the spirit of riding. This campaign, centered around Motul's fully synthetic, premium engine oil for two-wheelers, is inspired by riders who seek thrill and adventure in their own unique ways.

Raymond Ltd., one of the world’s biggest producers of suit fabric, fell for the seventh day in Mumbai as the acrimonious separation between its billionaire Chairman Gautam Singhania and his wife sparked uncertainty among investors. The stock has tumbled 12% since Nov. 13 when Singhania announced separation from Nawaz Singhania, his wife of 32 years and a Raymond board member, erasing more than $180 million in market value.

Enforcement Directorate's action to attach properties worth Rs 751 crores in the National Herald Case, Rajya Sabha MP Kapil Sibal said that the ED is guided by a panel of lawyers and asked ED to specify the law which says that shareholders become owners of assets. «ED should know what the law says. Properties are owned by companies. There are charges that Young India has taken over 99 per cent shares of AJL.

Cost of Living LIVE November 22: The cost of living is basically the amount of money one needs to survive in a given place - and one's most essential needs such as food, water, housing, taxes, cost of commute, healthcare, etc. The high rate of inflation has pushed up the cost of living across the globe, burning a hole in the common man's pocket.

Russia’s pivot to the Global South, Western, South and Central Asia is strategic and long-term. While Moscow’s partnership with New Delhi has deep mental and cultural roots, Russia-China ties does not have dimension of a military alliance, Prof. Alexander Dynkin, President of IMEMO (Russia’s top think tank) & leading economist tells ET’s Dipanjan Roy Chaudhury ahead of Primakov Readings (Russia’s premier foreign policy forum) in Moscow on October 27-28.

On November 7, 2023, Polygon Labs introduced a groundbreaking Polygon PoS v1 Testing Toolkit, designed to revolutionize devnet management on the Polygon network. The toolkit, which serves to ease the development process, makes the deployment, monitoring, and testing of Polygon Point-of-Service (PoS) devnets simpler. It also contributes to the simplification of the process. It is based on Express-CLI, which is an improved version of Matic-CLI, which it was developed on top of. It intends to do this by hastening the testing and deployment processes for crucial components such as «bor,» «erigon,» and «heimdall.»

MUMBAI : The government wants to replace the ‘use-and-throw’ design philosophy of products with a ‘right to repair’ framework. Benefits are many. Mint explains the concept, its need and how this move may disrupt the way businesses operate.

—Name withheld on request As a non-resident, you are required to pay tax on the sale of the ancestral property in Mumbai, similar to a resident. Since the property has been held for more than 24 months, any profits from the sale will be considered long-term capital gains. For the calculation of capital gains, the cost of acquisition is critical.