City Mumbai Financial News
01.11 / 03:53
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AQI updates: Delhi's air quality stays 'very poor' for 5th consecutive day; Mumbai record AQI at 132
air quality index (AQI) was recorded at 336 with some areas also reporting AQI touching to ‘severe’ category. As per Central Pollution Control Board data at 7:30 am, AQI recorded in Wazirpur was 422, while 405 in Rohini, 424 in Anand Vihar. As per SAFAR, Pusa and Lodhi Road recorded AQI levels of 311 and 317, respectively, both categorized as ‘very poor’.
01.11 / 03:53
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LPG price increase: Govt hikes commercial cylinder rates. Details here
LPG cylinders by ₹100 in various locations throughout the country. It is to be noted that this marks the second price hike for commercial LPG cylinders in the past two months. The hike will come into effect from November 1.
01.11 / 03:53
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Delhi pollution: Only CNG, electric, BS-VI buses allowed to ply between Delhi, NCR from today | Details here
rising levels of pollution in Delhi and NCR regions, that begin with the change in season. From today, all buses that operate between Delhi and other cities/towns of Rajasthan, Haryana and Uttar Pradesh that fall in the NCR region, must either be an electric vehicle, CNG, or BS-VI diesel buses. The directive also mentioned that the buses that will ply between non-NCR areas of Rajasthan to Delhi should be EVs, CNG, or BS-VI diesel buses from January 1, 2024.
01.11 / 03:29
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Ila Arun completes 40 years in showbiz, reveals she bypassed many roles to avoid getting typecasted
Arun made her Hindi film debut as an actor with Shyam Benegal's acclaimed 'Mandi' in 1983 and gained popularity across India as a singer with hits such as 'Morni Baaga Ma Bole', 'Choli Ke Peeche', and pop tracks 'Bichhuda' and 'Nigodi Kaisi Jawani Hai'. From cinema, theatre, independent music, TV shows 'Discovery of India' and 'Yatra' with Benegal to now her web series debut with 'Aarya 3', she has done it all. «I have been entertaining viewers in so many ways.
01.11 / 02:03
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MCA greenlights direct foreign listing for select unlisted companies
reported that the union government is planning to allow Indian companies to list overseas directly. Speaking at an event in Mumbai, the finance minister Nirmala Sitharaman said the government has decided to allow companies to list at the International Financial Services Center (IFSC) GIFT City to start with before expanding this to other countries.
01.11 / 02:03
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Sachin Tendulkar statue to be unveiled at Wankhede Stadium today
Sachin Tendulkar is set to be unveiled on Wednesday, coinciding with the World Cup match between India and Sri Lanka at the Wankhede Stadium. The unveiling ceremony of Tendulkar's statue will witness the presence of several dignitaries, including Maharashtra's Chief Minister Eknath Shinde, Deputy Chief Minister Devendra Fadnavis, the iconic Sachin Tendulkar himself, BCCI Secretary Jay Shah, Treasurer Ashish Shelar, as well as officials from the Mumbai Cricket Association (MCA), including President Amol Kale, Secretary Ajinkya Naik, and other members of the apex council, PTI reported.
01.11 / 00:59
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PharmEasy CEO has three-year lock-in, Ranjan Pai to get three board seats
PharmEasy cofounder and chief executive Siddharth Shah will have a three-year lock-in on his remaining stake in the epharmacy startup, along with getting a board seat at the company that has just closed a Rs 3,500 crore rights issue. Interestingly, Ranjan Pai, chief of Bengaluru-based Manipal Group, will have three board seats at PharmEasy parent API Holdings as part of his investment in the company, people aware of the terms said. He is emerging as the largest shareholder with at least a 15% stake after the rights issue, they said.
01.11 / 00:59
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For restaurateurs, it's an open and spurt case: Record number of new eateries, watering holes coming up
new restaurants, pubs, bars and cloud kitchens will be opening their doors this quarter across metropolitan cities as well as tier II-III towns for the New Year. Restaurateurs told ET they are looking to capitalise on the highest demand they are seeing since the pandemic. MMG Group, master franchisee for burgers-and-fries chain McDonald's in the north and east, plans almost as many new QSRs in the current quarter alone as in all of the previous year. «We will be opening 18 outlets in this quarter across New Delhi, Kolkata, Punjab, Haryana, Himachal Pradesh, Uttar Pradesh and the Delhi-Mumbai Expressway (area),» said Sanjeev Agarwal, chairman of MMG Group and McDonald's India North and East.
31.10 / 20:37
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Optimistic about Q2 growth: RBI's Das
MUMBAI : Second quarter gross domestic product (GDP) numbers, “in all probability", will surprise on the upside, Reserve Bank of India governor Shaktikanta Das on Tuesday said. The RBI’s monetary policy committee (MPC) has pegged Q2 GDP growth at 6.5%. GDP growth in Q1 stood at 7.8%.
31.10 / 18:09
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Registration of properties in Mumbai up 26 pc to 10,607 units in Oct
Registration of properties in Mumbai municipal region rose 26 per cent annually to 10,607 units during October, according to Knight Frank India. Total 8,422 properties were registered in October last year in Mumbai city (area under BMC jurisdiction).
31.10 / 17:37
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Lower hotel occupancy in Sep despite G20
₹11,000, or a 60% year-on-year rise. Demand declined by 5-10% in Bengaluru and Pune. For Delhi, Hyderabad and Chennai occupancy rates fall by 5%.
31.10 / 15:15
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India braces for 8% sugar output dip as cane crop suffers- trade body
India's sugar production is likely to fall 8% to 33.7 million metric tons in the 2023/24 marketing year, which starts on Oct. 1, a leading trade body said on Tuesday, as lower rainfall in key producing states could dent yields. Lower sugar production could lead the world's second-largest producer of sweetener to refrain from allocating export quotas and support global prices, that are trading near multi-year highs. «Sugar production for 2023/24 without considering diversion towards ethanol has been estimated at around 33.7 million tons, against 36.6 tons estimated for 2022/23,» the Indian Sugar Mills Association (ISMA) said in a statement. In August, ISMA had forecast sugar production of 36.2 million tons in the current season. The trade body did not provide an estimate for net sugar production after the diversion of sucrose for ethanol production, but it stated that the output would exceed the country's annual consumption of 27.85 million tons. The diversion of sugar towards ethanol will be estimated only after the government declares the annual ethanol procurement price, the ISMA said. Sugar mills diverted 4.1 million tons of sugar for ethanol production in the last marketing year and the similar allocation could bring down the new season's output to 29.6 million tons, said a Mumbai-based dealer with a global trade house. «The impact of the dry weather in Maharashtra and Karnataka is quite evident now.
31.10 / 15:13
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Canara Bank fraud case: ED files chargesheet against Jet Airways founder Naresh Goyal, 5 others
Mumbai: The Enforcement Directorate (ED) on Tuesday filed a chargesheet against Jet Airways founder Naresh Goyal and five others in the alleged fraud of ₹538 crore at the Canara Bank. Goyal was arrested by the ED on September 1 under the Prevention of Money Laundering Act (PMLA). He is currently in judicial custody and lodged at the Arthur Road jail here.
31.10 / 15:13
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Lupin's Madhya Pradesh facility receives EIR from USFDA
₹1,128.40 apiece on the BSE. Also Read: Lupin Q2 Results: Board to meet on November 8 to discuss unaudited results This month, the pharma major received approval from the US FDA to market its generic Fluconazole tablets and another generic medicine used to treat daytime sleeplessness. Fluconazole tablets are used in the treatment of fungal infections.
31.10 / 14:57
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PropTech to become $1 trillion industry in 7-8 years : CBRE
PropTech is expected to become $1 trillion industry in 7-8 years, according to Anshuman Magazine, Chairman and CEO, India, South East Asia, Middle East, and Africa, CBRE. Magazine said that the development will move behind 3-4 main cities in coming years. CBRE has selected three startups as part of PropTech challenge, ‘DISRUPTECH 2.0’, where Delhi-based Strawcture has emerged as the winner, while Enlite (Mumbai) and SuperBolter (Bengaluru).
31.10 / 14:57
services
Maratha quota stir: Internet services suspended in Jalna district as precaution after violence
Maharashtra's Jalna district in view of violent incidents in the Marathwada region during the ongoing agitation seeking reservation for Marathas in government jobs and education, police said on Tuesday. The district in central Maharashtra, around 400km from Mumbai, is also the site of an indefinite fast launched by Maratha quota activist Manoj Jarange last week in support of the reservation demand. Internet services in Jalna district were suspended by an order of the local administration as a precautionary measure to stop spread of rumours related to violence and arson during the agitation, an official said.
31.10 / 13:27
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Man says 'Hindu Khatre mai hai' after spending Rs 490 on samosa and tea at Mumbai airport. Netizens say this
Twitter user, @Chacha_huu, claimed to have paid Rs 490 for two samosas, one tea, and a water bottle at Mumbai Airport. This revelation led to widespread outrage, especially when @Chacha_huu disclosed that his entire trip, including the flight from Mumbai to Kolkata and cab fares, cost him a whopping Rs 11,220, nearly his entire monthly salary of Rs 17,000. The user wrote: «2 Samosa, 1 Tea, and a Water Bottle cost me 490 Rs at Mumbai Airport. Flight Ticket From Mumbai to Kolkata — 9230 Rs.
31.10 / 13:27
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Zee-Sony merger: NCLAT transfers all cases to bench led by chairperson
₹150 crore due to a guarantee by ZEE for Siti Networks Ltd, an Essel Group entity. On 10 August, the Mumbai bench of the National Company Law Tribunal (NCLT) had approved the merger of Zee Entertainment and Sony Pictures Networks India (SPNI), paving the way for the creation of a $10-billion media giant in the country.
31.10 / 13:27
31.10 / 12:51
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IDBI Bank files insolvency plea against Mumbai Metro One
IDBI Bank has petitioned the Mumbai bankruptcy bench to initiate corporate insolvency against Mumbai Metro One Pvt Ltd, which operates the metro line from Versova to Ghatkopar. The lender is seeking recovery of Rs 133.37 crore, including interest component, from Mumbai Metro One, according to stock exchange disclosure. Anil Ambani's Reliance Infrastructure owns a 74% stake in the metro line operator, while the remaining 26% stake is held by Mumbai Metropolitan Regional Development Authority (MMRDA), an apex body for planning and coordinating development activities in Mumbai. This was the first metro project awarded in the country on a public-private partnership (PPP) basis and entails the design, financing, construction, operation and maintenance of about 12 km elevated metro operating between Versova to Ghatkopar with 12 stations en-route. In August, State Bank of India filed a petition at National Company Law Tribunal (NCLT) Mumbai bench to admit the company for corporate insolvency for recovery of their Rs 416 crore debt. Other lenders include Canara Bank, Indian Bank, Bank of Maharashtra, IDBI Bank and India Infrastructure Finance Company (UK).
31.10 / 12:03
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As AQI deteriorates in Delhi and Mumbai, study says air pollution leads to 56% higher risk of Parkinson's disease
PTI. According to lead researcher Brittany Krzyzanowski from the institute, previous studies have shown fine particulate matter, or PM2.5 can cause inflammation in the brain, which is "a known mechanism by which Parkinson's disease could develop". Published in the journal Neurology, the US researchers have found that the relationship between air pollution and Parkinson's disease was not the same in every part of the United States, as it varies in strength by region.
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