City Mumbai Financial News

I need to send some money abroad (in excess of $250,000) as a monetary help to my son. How do I go about with it?

MUMBAI, NEW DELHI : Aditya Birla Group flagship Grasim Industries Ltd on Monday said its board has approved raising ₹4,000 crore through a rights issue. The capital will be used to finance capital expenditure, repay debt and for general corporate purposes. “The capital outlay for the company to establish itself as India’s second largest decorative paints player is on track.

The Nun II collected over ₹43 crore, despite its release in a few screens on a weekend alongside Shah Rukh Khan’s Jawan that later crossed ₹500 crore. In July, Insidious: The Red Door grossed about ₹17.68 crore, while Evil Dead Rise grossed over ₹36 crore in April. Interestingly, these films made their mark in a year when many high-profile Hollywood superhero franchises failed to attract viewers.

Mumbai's Chhatrapati Shivaji Maharaj International Airport (CSMIA) on Monday said its passenger traffic grew 33 per cent to 1.27 crore in the September quarter. CSMIA had recorded a total passenger volume of 96 lakh for the year-ago period, it said.

ANI. The girder developed cracks when it was being placed at the elevated position in the morning hours, following which the surrounding area was cordoned off and police personnel were deployed at the spot, the official said. At around 2:45 pm, the girder crumbled and fell around 30 metres down, he said.

₹16 crores from their possession and arrested two people from the spot. The two culprits were produced before court and sent to Police custody till October 19, said Daya Nayak, Crime Branch Officer on Monday. According to the police, Inspector Daya Nayak initially received the tip of the drug peddlers being active in Bandra west and Khar areas of Mumbai.

International Olympic Committee (IOC) confirms the reintegration of this global sport into the Olympic Games program, an event last witnessed in 1900. Cricket is part of the 5 new games approved by the International Olympic Committee (IOC) during its 141st session others being squash, baseball/softball, lacrosse, and flag football. The announcement was made by IOC President Thomas Bach and the move was opposed by only two of the 99 IOC members.

Royal Enfield has launched an assured buyback program for its motorcycles with OTO Capital. The program aims at ensuring a smooth and seamless ownership experience for customers, Royal Enfield said in a statement. OTO Capital is a Mumbai-based finance start-up that offers loans to two-wheeler buyers on flexible terms which involves leasing a two- wheeler and also buying it at the end of the lease tenure by paying the residual amount. The program with Royal Enfield includes flexible tenure options spanning from 1-3 years, up to 45% lower EMIs, and a guaranteed buyback value of up to 77% depending on the tenure coupled with a cash back incentive at the end of the tenure, this initiative is a first-of-its-kind in the industry. The maker of Hunter 350 and Continental GT among other motorcycle brands has launched the assured back program at a time when the competition in the middleweight motorcycle segment where it leads, has been heating up with the entrance of Bajaj-Triumph and Hero-Harley models. The motorcycle-making arm of Eicher Motors has committed its highest ever annual capex of Rs1600-Rs1700 crore for FY24.

Movin, a joint venture between UPS and InterGlobe Enterprises, on Monday, started operations by introducing the second fleet of Electric Vehicles (EV) for its first and last-mile deliveries in Bengaluru, said the brand through its press release. The first fleet was rolled out in Delhi NCR earlier this year. EVs will soon be deployed in Mumbai, Chennai, Hyderabad, Kolkata, and Pune by the end of 2023 as part of its plan to reduce carbon emissions and to align with its long-term sustainability goals, said the company in its statement.

₹80 crore for the renovation and refurbishing of an office block from the Visakhapatnam port authority. NBCC share price today opened at ₹64 apiece on BSE.

₹8 billion. India is one of the world's fastest-growing economies and has the largest young population, and Trent plans to capitalise on this growth. The company recently launched 'Samoh', a luxury clothing brand, and opened its first store in April 2023.

TCS: A nearly six-month-long probe into the bribes-for-jobs scandal at Tata Consultancy Services Ltd has resulted in crucial suggestions for hiring reforms, along with the sacking of the former head of its resource management group. On Sunday night, TCS disclosed to the exchanges that it had sacked 16 employees and blacklisted six staffing firms. E.S.

HDFC Bank, Grasim, Federal Bank, Bank of Maharashtra, ICICI Securities Shares of HDFC Bank, Grasim, Federal Bank, Bank of Maharashtra, and ICICI Securities will be in focus as the companies will announce second quarter results. DMart Avenue Supermarts reported a net profit of Rs 623 crore for the quarter ended September, which was down by over 9% year-on-year. Dalmia Bharat Dalmia Bharat has reported net profit of Rs 124 crore in the second quarter, while revenues stood at Rs 3,149 crore. Read more: Here's the trade setup for today's session Adani Enterprises Adani Enterprises said its two subsidiaries Mumbai International Airport and Navi Mumbai International Airport have received notices by the ministry of corporate affairs relating to initiation of investigation of books of accounts and other books and papers. Persistent Systems Persistent Systems has appointed Ayon Banerjee as the company’s chief strategy and growth officer with effect from October 13, 2023. Tata Motors Ahead of the IPO, parent Tata Motors will sell 9.9% stake in Tata Technologies for about Rs 1,614 crore. TPG Rise Climate will pick up about 9% stake in the transaction, which valued Tata Technologies at Rs 16,300 crore ($2 billion). Tata Steel Long Products Tata Steel Long Products has reported a net loss of Rs 136 crore in the second quarter.

Mumbai: Call it a case of role reversal in the startup arena. Founders, who used to be closely vetted by investors, are now using the same magnifying lens to carry out due diligence on the former.

Topworth Steel and Power Pvt Ltd by Amalgam Steel and Power Limited. The company had admitted liability of about ₹3,499 crore, whereas the successful bidder proposed to pay around ₹260 crore. «The overall feasibility and viability of the plan stands unaltered,» the division bench presided over by Justice VG Bisht and technical member Prabhat Kumar said in its order of October 11.

BENGALURU/MUMBAI : A nearly six-month-long probe into the bribes-for-jobs scandal at Tata Consultancy Services Ltd has resulted in crucial suggestions for hiring reforms, along with the sacking of the former head of its resource management group (RMG). E.S.

NEW DELHI : Mauritius-based offshore funds facing ambiguity over capital gains tax have received a shot in the arm at last following a verdict of the Mumbai bench of the Income Tax Appellate Tribunal (ITAT). In a case about the foreign direct investment of Indium IV Holdings (Mauritius), the tribunal has allowed the fund to carry forward long term capital loss (LTCL) while simultaneously allowing the fund to claim treaty benefit for short term capital gains (STCG).

₹11,520 crore and 120 properties in the top seven cities including Mumbai, Pune, and Chennai. The Department of Investment and Public Asset Management (DIPAM) said, in response to the pre-bid queries from prospective asset valuers of IDBI Bank, that the bank has as many as 68 properties in Mumbai, 20 in Pune, nine in Chennai and seven in Ahmedabad. Besides, it has six properties in Kolkata and five each in Delhi and Hyderabad.

Taiwanese company Acer, which sells laptops and other electronic hardware products, has entered India's electric scooter segment and will be marketing vehicles designed and manufactured by urban mobility startup Think Ebikego. The company unveiled its first electric scooter MUVI 125 4G on Sunday priced at Rs 99,999. Under a licencing agreement, Mumbai-based Think Ebikego will produce electric two- and three-wheelers for Acer in the Indian market.

IDBI Bank that the lender has deferred tax assets of Rs 11,520 crore and 120 properties in the top seven cities including Mumbai, Pune, and Chennai. In response to the pre-bid queries from prospective asset valuers of IDBI Bank, the Department of Investment and Public Asset Management (DIPAM) said the bank has as many as 68 properties in Mumbai, 20 in Pune, nine in Chennai and seven in Ahmedabad. Besides, it has six properties in Kolkata and five each in Delhi and Hyderabad. “The intangible on the balance sheet of IDBI Bank primarily comprises deferred tax assets of around Rs 11,520 crore,” DIPAM said. Deferred tax asset commonly refers to overpayment of tax by an entity.

PTI. Line 7 which is an elevated corridor along the Western Express Highway links Dahisar and Gundivali in Andheri East. While Line 2A runs above New Link Road between Dahisar and Andheri West.