City Mumbai Financial News

10.10 / 20:19

Lowe's Target FIVE Enterprise reports recommendations valuation Low Miffed by low offer, Religare orders valuation report

MUMBAI : Religare Enterprises Ltd’s board has commissioned an independent valuation report as it believes that the company is worth more than the price the Burman family has offered, a person with knowledge of the development said. On 23 September, the Burman family, which controls packaged goods company Dabur Ltd, offered to acquire an additional 5.27% stake in the financial services company for ₹407 crore, leading to a mandatory open offer to buy an additional 26% stake from the public. The deal has not closed and is awaiting regulatory approval.

10.10 / 18:35

UPS country NIA now has 18 branches across India

National Investigation Agency (NIA) has increased to 18 branches across the country from nine in 2019, when Amit Shah took charge of the Union home ministry, while proposals for 10 more branches are pending with the ministry, said officials. The manpower for the NIA has also been enhanced, as the ministry recently approved creation of one post of additional director general and six new inspector generals of police for the agency, they said.

10.10 / 17:11

UPS Digital Assurant Mobile WhatsApp reports NOT RBI tells BoB not to sign up users on app

MUMBAI : The Reserve Bank of India (RBI) on Tuesday asked Bank of Baroda (BoB) to immediately suspend further onboarding of customers onto their mobile app ‘bob World’. This ban comes after RBI found material supervisory concerns while onboarding customers onto the app. Any further onboarding of customers of the bank on the app will be subject to rectification of deficiencies observed and strengthening of the related processes by the bank to the satisfaction of RBI, said an RBI release.

10.10 / 17:11

UPS Target NIFTY SENSEX VIX Markets take U-turn on hopes of localized Israel-Hamas war

MUMBAI : Indian stock markets took cues from global stock markets to recoup all their losses of the previous day, as hopes of the Israel-Hamas war remaining confined to the Gaza strip caused a softening in crude prices, which was reinforced by Israel’s TA 35 Index trading up 0.9% at 1745 at the time of writing. Dovish comments by a senior Federal Reserve official also boosted sentiment. While FIIs remained sellers of a provisional ₹1,005.49 crore, DIIs purchased shares worth ₹1,963 crore.

10.10 / 16:57

President reports recommendations BJP and allies to launch Maha Samwad Yatra in Maharashtra

Lok Sabha elections, top leaders of Shiv Sena, BJP, and NCP (Ajit Pawar) faction will launch Maha Samwad Yatras across Maharashtra in the coming days. A BJP leader said on Tuesday the outreach program was discussed in a meeting held at state Cabinet minister and BJP leader Chandrakant Patil's residence here.

10.10 / 16:57

BLOCK Platform track cover network services Mumbai Mumbai: More than 3,000 suburban train services to be hit on Western Railway network amid 29-day block

Western Railway in Mumbai, an official said on Tuesday. The block, which began on October 7, has been put in place for the construction of the sixth line between Khar and Goregaon railway stations, he said. As per a release, around 2,700 suburban services will be cancelled and about 400 services will be partially disrupted or short-terminated from October 20 onwards.

10.10 / 15:21

UPS Citi Strategy Metro WhatsApp Pinduoduo social Inside DealShare’s search for an identity

Mumbai: Back in April 2022 when the funding winter for the startup ecosystem had just about set in, social commerce-focused online e-grocer DealShare started out on a path that would change the face of the startup, eventually triggering a change in its leadership and business model. The change was coming at an odd time. DealShare had set up shop in eight states, and had announced plans to aggressively expand that footprint.

10.10 / 11:09

COST Citi Digital Platform Assurant Mobile innovations Customer How the promise of convenience is boosting customer loyalty and revenue streams

By Srinath Sridharan

10.10 / 05:15

COST Citi Remark Discover awards stage Discover the Best Whisky Prices: Indri takes the world stage as Haryana offers the cheapest sip!

Indian whisky brand, has achieved international recognition by securing the coveted title of «Best in Show» Double Gold award at the prestigious Whiskies of the World Awards. This impressive accolade now ranks Indri as the world's premier whisky brand, as bestowed by Whiskies of the World. This remarkable feat was accomplished with the launch of the 2023 Diwali Collector's Edition from Indri.

09.10 / 18:58

Manufacturing Platform WhatsApp Qualcomm President reports Macro headwinds hit Zoho’s overall growth

MUMBAI : Zoho Corp. is experiencing a revenue growth slowdown due to macroeconomic challenges in its key North American market. Chief executive Sridhar Vembu said the company has turned cautious regarding spending and hiring, as many of the problems are unlikely to be resolved quickly.

09.10 / 18:57

Lowe's NIFTY SENSEX Bill VIX Investors flee shares on widening war fear

MUMBAI, NEW DELHI : Investors offloaded shares Monday on concerns about the economic fallout from the Israel-Hamas conflict. Oil and gas prices soared amid apprehension that the conflict may spread throughout the wider West Asian region. The selling pressure, led by retail and foreign portfolio investors (FPIs), drove the India VIX volatility index to post the biggest rise in 10 months, indicating the nervousness in the market over the impact of the war on crude prices and the rupee.

09.10 / 18:57

UPS Entertainment pandemic performer audience Live events organizers gear up for hectic festive season

Organizers of live experiences expect an eventful festive season with a lineup of music concerts, artiste tours, food and beverage festivals, theatre, comedy, and sports. Events, including NH7 Weekender and performances by Ronan Keating and Kerala Dust, are set to woo audiences through New Year’s.

09.10 / 18:57

UPS Airlines performer stage reports Jet lenders ask JKC to clarify on probe

₹200 crore in two instalments. In response, senior counsel Mukul Rohatgi, representing JKC, argued that lenders have been demanding money at each stage, despite JKC depositing ₹350 crore. The lenders sought to consolidate all pending matters related to the case in the apex court for a joint hearing, while JKC requested separate hearing for this specific petition.

09.10 / 17:17

Booking WhatsApp show stars Department Star Health and Allied Insurance sent GST notice for ₹39 crore by DGGI

₹38.99 crore, the insurance firm said in its BSE filing on Monday. “The Company has received a Show Cause Cum Demand Notice from the Directorate General of GST Intelligence, Mumbai Zonal Unit under Section 74(5) of the Central Goods and Services Tax Act, 2017 (“the Act"), October 6, 2023 alleging a tax demand of ₹ 38,99,77,849," said the company in its BSE filing. The company shares closed 2.11% lower at ₹582.55 per share on BSE on Monday.

09.10 / 17:17

Target Action Align track reports shock Interest rate cuts likely only after Q1 FY25, say economists

MUMBAI : Economists are paring back their expectation of a rate cut to beyond the first quarter of fiscal year 2025, following a hawkish policy stance from the Reserve Bank of India. In its recent policy last week, RBI Governor Shaktikanta Das made it clear that the central bank’s inflation target is 4% and not 2 to 6%. According to RBI’s estimates, inflation is expected to average 4.5% in fiscal year 2025.

09.10 / 17:17

BLOCK WhatsApp reports Mumbai IDFC First Bank to sell Mumbai office space to NSDL for ₹198 crore

(NSDL) to sell one of its premises in Mumbai for ₹198 crore. The office space that would be sold to the securities depository is located in Naman Chambers, based in the business hub of Bandra-Kurla Complex (BKC). The decision is “part of consolidation of bank’s operations near its corporate office at IDFC FIRST Bank Tower (The Square), C-61, G Block, BKC, Mumbai," the lender stated in its regulatory filing.

09.10 / 17:07

UPS Digital CEO country Web Werks, Iron Mountain JV to invest Rs 1,800 crore in two data centres in Chennai

Web Werks and Iron Mountain Data Centers will invest Rs 1,800 crore to set up two data centres in Chennai. The JV has acquired a four-acre parcel of land in Ambattur, Chennai, to house these data centers (CHE-1 and CHE-2). «Joint Venture of Web Werks — Iron Mountain Data Centers will invest more than Rs 1,800 crore to develop two data centres in Chennai. The investment will be made in a phased manner and be fully operational by the mid of 2025,» Web Werks Data Centers founder and CEO Nikhil Rathi said in a statement on Monday.

09.10 / 17:07

UPS country reports cricket Cricket set to be included in 2028 Olympics: Report

Cricket is set to be included in the 2028 Los Angeles Olympic programme alongside flag football, baseball and softball, according to a report. The Guardian reported that cricket's inclusion in the Olympics will be confirmed at the 141st International Olympic Committee session that gets underway in Mumbai on October 15.

09.10 / 14:27

Provident Digital Platform SAP awards information Rubix Credit Decisioning Solution live on SAP Store

Mumbai, 09.10.2023 – Rubix Data Sciences, a technology and analytics-based B2B risk management and monitoring platform provider, today announced its Rubix Credit Decisioning Solution in now available on SAP Store. The solution work with SAP S/⁠4HANA® Cloud giving access to Rubix Risk Scores and credit and financial risk information. This enables users to make better credit decisions and automate the risk monitoring of their counterparties.

09.10 / 14:27

FIVE Action WhatsApp penalty RBI imposes monetary penalty on five co-operative banks. Details here

₹13 lakh on SBPP Co-operative Bank Limited, Killa Pardi, Gujarat for non-compliance with directions issued by RBI on ‘Interest Rate on Deposits’. The penalty has been imposed in exercise of powers conferred on RBI under the provisions Banking Regulation Act, 1949.

09.10 / 14:27

Citi Provident Digital CEO Software innovations iDigitalise Expands Its Global Footprint with the Opening of Its First Overseas Office in Tirane, Albania

Mumbai, 21/09/23 — iDigitalise, a leading technology and digital marketing solution agency, is thrilled to announce the opening of its first overseas office in the vibrant city of Tirana, Albania. This significant milestone represents a strategic move to enhance our global presence and better serve our clients in the region. The new office in Albania is a testament to iDigitalise's commitment to providing innovative and cutting-edge digital solutions to businesses worldwide.

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