City Mumbai Financial News

ED said that Agicha was arrested on November 10 and he was sent to agency's custody for three days by a Mumbai Special court. The ED probe had found that loan amount was illegally diverted by way of fictitious Inland Letters of Credit, bogus unsecured loans and commissions to related entities along with other methods. «In this case 9 searches had already been conducted by ED in Mumbai, Ahemedabad, Kandla and Pune and Ramchand Kotumal Issrani, Managing Director of AHPTPL was earlier arrested by ED on August 8 and currently he is in judicial custody,» the ED said. The ED had filed a chargesheet on October 4.

ANI reported. Meanwhile, residents informed the Coonoor Forest Department and fire rescue team.

Follow Delhi, NCR Air Pollution LIVE Updates The overall AQI in Mumbai was at 74 (satisfactory), it was 92 (satisfactory) in Pune and 125 (moderate) in Gujarat's Ahmedabad, SAFAR reported. In Kolkata, West Bengal, the AQI was in the "poor" category at 269, as per the Central Pollution Control Board (CPCB) data recorded as of 4 pm on Saturday. These tallies were recorded on the eve of Diwali.

CapitaLand India Trust (CLINT) has secured a five-year construction loan of ₹1,300 crore from JP Morgan India to finance the Phase-1 development of its data centre in Navi Mumbai. «Securing this onshore loan in India would diversify our funding sources and help us to optimise our funding costs,» said Sanjeev Dasgupta, chief executive of CapitaLand India Trust Pte Ltd. CapitaLand has already started the construction of the data centre, which is scheduled for completion by mid-2025. The data centre will have a power capacity of 108 MW. Besides this upcoming facility in Navi Mumbai, CLINT has three data centres under development in India. CLINT, formerly known as Ascendas India Trust, was listed on the Singapore Exchange Securities Trading in August 2007 as the first Indian property trust in Asia.

Pakistan was tasked with chasing down an improbable task of 338 runs in 6.4 overs. India will finish as table-toppers in the league round irrespective of the result before the last game against the Netherlands will face Kane Williamson-led New Zealand on 15 November in Mumbai. The match will be played at the Wankhede stadium and it will begin at 2 pm IST.

New Zealand were assured of a place in the Cricket World Cup semi-finals on Saturday after Pakistan failed to produce an extraordinary result during their concluding group game against England. Pakistan, the 1992 champions, were required to beat England by 287 runs to secure their berth in the semi-finals at the Kiwis' expense on net run rate. However, England batted first, closing off that avenue, and Pakistan's fate was then sealed when they were faced with the impossible task of scoring over 300 runs by the 40th ball of their reply to the champions' 337-9. New Zealand will face hosts India in the first semi-final in Mumbai on Wednesday, with Australia and South Africa clashing in Kolkata 24 hours later. (With inputs from agencies)

ICC Men's World Cup 2023 semi-finals. The two other teams, that qualified for the semi-finals, are Pat Cummins-led Australia and Temba Bavuma-led South Africa. In 9 matches, the Proteas have 14 points and an NRR of (+)1.261, winning 7 and losing 2.

gifting companies are feeling the freeze of the slowdown in the IT and IT-enabled services sector this Diwali season. IT/ITeS companies — which, with their huge workforces, are among the biggest spenders on Diwali gifts — have slashed their gift budgets by up to 50% and some have done away with gifting altogether, gifting companies such as PrintStop, IGP, Loopify and Swageazy told ET. «There's a blanket reduction in gift budgets. IT typically accounts for about 50% of our clients; there's been a 50% drop in their spends,» said Pratik Shah, cofounder of customised gifting company PrintStop.

Future Retail Ltd (FRL) on Friday filed for liquidation, marking an inglorious end for the company that once led India’s retail revolution. On 30 September, creditors had rejected a resolution plan submitted by sole bidder Space Mantra Pvt. Ltd.

Ranveer Singh has sold two of his residential properties in Mumbai’s Goregaon suburb for a total of over Rs 15.2 crores. Both the adjacent apartments on the 43rd floor of one of the towers of premium residential project Oberoi Exquisite are spread over 2,648 sq ft. The actor has sold each of these apartments along with a total six car parking slots for over Rs 7.62 crore.

The average annual rental yield in cities like Mumbai and Bengaluru has jumped up to 20% since 2019. According to the latest Anarock Research data, Bengaluru has the highest rental yield of 4.35% as of September 2023 end. It was just 3.6% in 2019, showing a jump of over 20% in the last five years.

pollution levels in the National Capital Region (NCR). “Farm fires must stop. The decline must go on during the Diwali holidays." the court said.

Mahindra Lifespace Developers, the real estate and infrastructure development business of the Mahindra Group, has decided not to undertake a joint development on a nearly 5-acre land parcel in Mumbai’s western suburb Dahisar owing to significant delays in fulfilment of certain conditions precedent. The company had finalised the terms for this project in October 2021 and the development was estimated to provide around half a million sq ft of carpet area. The terms of this joint development were subject to conditions precedent including regulatory clearances and approvals for effective development of the land parcel in a timely manner. “In the best interest of the company, owing to significant delays in fulfilment of certain conditions precedent, the same shall be discontinued and shall not be pursued,” the company said. Mahindra Lifespace Developers recently acquired 5.38 acres of land in Wagholi locality of Pune. The land is estimated to have a development potential of over 1.5 million sq ft of saleable area. For the quarter ended September, the company has recorded pre-sales of Rs 455 crore for 0.68 million sq ft saleable area in its residential business. The company has a healthy pipeline of business development with Gross Development Value {GDV) of over Rs 5,000 crores, Amit Sinha, Managing Director & CEO, Mahindra Lifespace Developers told investors during its September quarter earnings call. The company has multiple launches coming up in the second half of the current financial year.

Reserve Bank of India Governor Raghuram Rajan said. “We should be going at 8%-8.5% given the needs of the population and the need for jobs,” Rajan said via video link at an event in Beijing on Friday. Economic growth at 6%-6.5% is strong compared with other countries, “but relative to our need for jobs I think it’s still somewhat slow because we have a lot of young people who need to be employed.” While India’s expansion has outpaced that of other major economies, the country isn’t creating enough jobs for the millions of people joining the workforce every year.

Rachin Ravindra, one of the revelation of this World Cup, visited his grandmother's house in Bangalore on Thursday to seek her blessings. New Zealand cricketer Ravindra, whose parents are from Bangalore, has helped the Kiwis almost seal a semi-final berth. In a video doing the rounds on social media, Ravindra's grandmother seems to be doing the 'buri nazar' protection ritual, with the Kiwi all-rounder seated on a sofa.

IndiGo is gearing up to launch an electrifying air taxi service. India's leading airline is set to offer a cost-competitive solution. It will solve the perennial problem of urban traffic congestion.

₹400 to ₹425 in the unlisted market, a report by Economic Times stated. The company, now valued at ₹1.5 lakh crore on the platform for unlisted stocks, is the third biggest non-bank lender by market capitalisation - just after the Bajaj twins, it highlighted. Bajaj Finance currently has a market capitalisation of ₹4.47 lakh crore, whereas Bajaj Finserv and Jio Financial Services command market capitalisations of ₹2.53 lakh crore and ₹1.37 lakh crore, respectively, added ET report.

MUMBAI : Fevicol maker Pidilite Industries is seeking to strengthen its partnerships with vendors and contractors before it forays into the non-banking financing business with the acquisition of an existing company, said Bharat Puri, managing director and chief executive officer, Pidilite. According to press statement released late on Wednesday, Pidilite will be acquiring Pargro Investments Pvt. Ltd, which is owned by its promoter group.

BENGALURU , MUMBAI : Home rental costs in Bengaluru, Hyderabad and Pune rose as much as 30% in the last nine months as tech companies brought staff back to offices, and are expected to rise another 10-12% in the year ahead, Anarock Property Consultants said. Tata Consultancy Services (TCS) and Wipro have asked their employees to attend office thrice a week, while Infosys wants them in roughly 10 days a month. HCL’s senior management must attend office thrice a week, while junior to middle order are on work from home mode but nudged to come to office more.

Tata Consultancy Services and Cognizant Technology Solutions Corp. Cognizant appointed former Infosys executive S. Ravi Kumar as CEO following the dismissal of Brian Humphries in January.

Narendra Modi has announced a five-year extension to the free ration scheme, Pradhan Mantri Garib Kalyan Anna Yojana. The combined viewership for OTT platforms increased by 13.5% in 2023, but the growth rate has slowed, data from Ormax showed. Ahead of the Lok Sabha polls next year, the government has decided to extend the free foodgrain scheme, originally set to conclude after December, for an additional five years.