City Mumbai Financial News

03.10 / 19:11

UPS economy WhatsApp stage beautiful travelers L Catterton to step up India focus over 2 yrs

MUMBAI : Consumer-focused private equity fund L Catterton, backed by French Luxury brand LVMH, is looking to accelerate investments in India over the next 12-24 months, a top company official said. The PE firm, which raised a $1.4 billion Asia fund in 2019 to deploy in China, Japan and India, is scouting for opportunities across consumer sub-segments, Anjana Sasidharan, partner and head of India at L Catterton said in an interview. Founded in 1989, L Catterton manages around $33 billion of equity capital across private equity, credit and real estate.

03.10 / 18:53

Progressive country Newsclick was creating ‘anarchy’ at China’s behest, says Devendra Fadnavis

NewsClick, Maharashtra Deputy Chief Minister Devendra Fadnavis said the portal was working at the behest of China to create ‘anarchy’ and ‘derail’ India’s progress. “There are powers which want anarchy in the country. I don’t need to say who these powers are.

03.10 / 18:21

UPS Digital Everest pandemic innovations reports Artha gets 19x yield on Everest Fleet exit

Mumbai: MicroVC firm Artha Venture Fund-I has clocked 19x return on its partial exit from its investment in Everest Fleet, a fleet management company. The fund bagged $2 million from its part stake sale in the company. The stake sale is part of the Series B funding round of $20 million that Everest Fleet raised from investors led by Uber and Paragon Partners.

03.10 / 18:21

COST UPS IPO Provident Lowe's JSW Infra lists, up 32% at closing

Mumbai: JSW Infrastructure Ltd, commercial port operator firm of JSW Group, on Tuesday, hit the upper circuit on its debut. The shares listed at ₹143 per share on BSE and NSE, at a premium of 20.17%. The company’s share price closed at ₹157.30 per share on the BSE and NSE, a 32.18% premium.

03.10 / 18:21

Digital WhatsApp pandemic New skills lift independent directors’ pay

₹1 lakh per sitting, and in many cases, there is a profit-linked commission paid to non-executive directors, which can be an incentive to attract more skilled and reputed individuals. Compensation can vary from ₹20 lakh to ₹1 crore-plus per director, depending on the size of the company, the industry and profit-linked commissions. A Mumbai-based headhunter specializing in board member searches noted a tripling in compensation over the past two years.

03.10 / 15:43

UPS MET Manufacturing Mobile electronic innovations reports Meet the high-flyer in India’s drones club

Bengaluru: In the 2009 Bollywood movie 3 Idiots, Aamir Khan, who plays an engineering student named Rancho, guides a drone with four rotors to the window of a classmate’s hostel room and catches him unguarded… and unclad. The drone, technically known as an unmanned aerial vehicle or UAV, was an early vertical take-off and landing (VTOL) prototype manufactured by Mumbai-based startup ideaForge Technology. The company has come a long way in the years since and is now India’s largest drone startup.

03.10 / 15:23

UPS Citi CEO Healthcare country hospital Dr.Agarwals Eye Hospitals to invest upto $150 million in next 2-3 years on expansion

Eye care chain Dr. Agarwals Eye Hospitals said it will be investing upto $150 million in next 2-3 years to almost double its network to 300 eye hospitals in India and Africa. «We are planning to open at least one eye-hospital every week, for next 2-3 years,» said Dr. Amar Agarwal, chairman, Dr. Agarwals Eye Hospitals in an interview to ET.

03.10 / 13:33

Provident COP Mobile electronic information reports 500 Updates Newsclick Raids: 500 cops, 25 questions, 100 locations- Top updates of Delhi Police crackdown amid China fund allegation

Delhi Police also raided the homes of several of NewsClick journalists, in what critics are describing as an attack on one of India's few remaining independent news outlets. NewsClick was founded in 2009. The portal has gained the reputation as a rare Indian news outlets that is willing to criticize Prime Minister Narendra Modi and his brand of politics.

03.10 / 12:39

economy pandemic hospital outbreak reports travelers Airbnb's package for India's economy has Rs 7,200 cr, 85,000 jobs

Indian economy a boost, hospitality giant Airbnb contributed over Rs 7,200 crore to Gross Domestic Product (GDP) and supported nearly 85,000 jobs in 2022, a report by Oxford Economics said on Tuesday. According to the report, the American company has played a significant role in bolstering India’s tourism industry. The GDP contribution and jobs supported in India has more than doubled since 2019 despite the Covid-19 outbreak and international border restrictions. The report also highlighted the powerful multiplier effect Airbnb guest spending has within local communities.

03.10 / 10:17

Waters Pool Discover information reports Mumbai Unexpected guest: Baby crocodile takes a dip in Mumbai's Mahatma Gandhi swimming pool

baby crocodile was discovered taking a dip in the BMC Mahatma Gandhi Swimming Pool in Dadar on Tuesday morning, leaving swimmers in a state of alarm. The incident occurred during the early hours when swimming instructors noticed the reptile enjoying a swim in the expansive pool, just before the usual crowd of swimmers was expected to dive into the cool waters. Local resident and Maharashtra Navnirman Sena (MNS) Spokesperson Sandeep Deshpande expressed concerns regarding the safety of the swimmers and demanded answers about how the crocodile managed to find its way into the swimming pool.

03.10 / 09:57

Action Dreams WhatsApp show reports Department play DGGI sends GST evasion notices of ₹28,000 crore to Dream11, ₹21,000 crore to Play Games 24X7: Reports

₹21,000 crore to Play Games 24X7, reports said on October 3, citing persons who are privy to the development. The DGGI action, as claimed in the reports, comes in the backdrop of the 28 percent Goods and Services Tax (GST) rate coming into effect on the entire nominal value for real-money gaming transactions. The notice to Dream11 and Play Games 24X7 – two leading entities of the online gaming sector – was issued by the Mumbai wing of DGGI, CNBC TV-18 reported.

03.10 / 09:29

Mobile information reports Raids on NewsClick: Delhi police held mid-night meet before raiding 30 locations, sources

Delhi police raided different premises linked to NewsClick on Tuesday, sources informed that the special cell of the Delhi police held a late-night meeting on Tuesday. The investigation, which is still underway was launched on the basis of information from central agencies. Sources also said that an FIR was filed at the New Delhi Range of Delhi Police special cell against NewsClick. As part of the investigation, editor of NewsClick Prabir Purkayastha and writers Paranjoy Guha Thakurta and Urmilesh were brought to the special cell offices in the national capital today. Sources said that the first meeting before launching the crackdown was held by the top officials of the special cell on Monday (October 2).

03.10 / 08:37

UPS Citi Digital Remark Metro 2024 Mumbai Embracing elegance: Mumbai's luxury real estate gears up for a stellar 2024

₹10 crore, resulting in record-breaking sales. These numbers are poised to rise even further as we approach the festive season. Among the most significant beneficiaries of this anticipated surge will be the premium and luxury segments.

03.10 / 07:29

Citi Manufacturing CEO performer country reports Office leasing across 9 cities increased by 33% Y-o-Y : CBRE

leasing across 9 cities increased by 33% Y-o-Y and touched 15.8 mn. sq.

03.10 / 06:47

UPS Target Remark Allegiant stage reports After 200 raids, Delhi Police arrests 3 suspected ISIS terrorists who hold NIT Btech degree and PhD from Jamia

Delhi Police's special cell has apprehended Mohammed Shahnawaz Alam, a notorious «most wanted» terror suspect, along with two of his associates associated with an alleged «ISIS-inspired» module. The police claim that this module was on the verge of carrying out high-intensity blasts in key locations in Delhi, including Akshardham and Ayodhya, just ahead of the upcoming festival season. Chabad House in Mumbai was also identified as a potential target. Mohammed Shahnawaz Alam, who had earned a place on the NIA's «most wanted» list with a reward of Rs 3 lakhs for his arrest, had managed to escape during a raid in Pune back in July.

03.10 / 05:25

Citizens WhatsApp donates open Electoral Bonds to open for sale tomorrow: Check eligibility, validity, face value, and other details here

electoral bond is a bearer banking instrument to be used for funding eligible political parties. An eligible political party is the one registered under Section 29A of the Representation of the People Act, 1951 (43 of 1951) and secured not less than one per cent of the votes polled in the last General Election to the House of the People or the Legislative Assembly.

03.10 / 02:03

Citi Cooper Healthcare President country travelers Indian Over 400 Indian companies have invested in Vietnam: Indian envoy

Vietnam, Madan Mohan Sethi highlighted the cordial and friendly relationship between India and Vietnam, emphasizing their historical ties through civilization that spans over 2,000 years. «More than 400 Indian companies, small and big have invested in Vietnam for a cumulative value of more than USD 1 billion,» he said. He mentioned that both countries have collaborated in various areas, including trade, defense, and strategic cooperation. He noted the increasing number of Indian tourists visiting Vietnam, with over 400,000 Indian tourists estimated to have visited the country in recent times.

02.10 / 18:05

reports Mantra Future Retail lenders reject Space Mantra's bid; NCLT extends insolvency period for 15 days

Future Retail Ltd have rejected the bid submitted by Space Mantra for the debt-ridden firm, which is currently going through Corporate Insolvency Resolution Process (CIRP). The Resolution Plan submitted by Space Mantra for Future Retail Ltd (FRL), failed to get the required number of votes in the e-voting process of the Committee of creditors (CoC). It was put «for the consideration of the CoC on July 19, 2023… and pursuant to the decision taken by CoC through e-voting, concluded on 30th September 2023 at 9 PM (IST), the resolution plan submitted by Space Mantra Private Limited has not been approved by CoC», FRL said in a regulatory filing on Monday.

02.10 / 15:23

Citi Twitter RIG Southern innovations 2020 Mumbai Adani Energy commissions transmission project to boost Mumbai's power supply

Mumbai: Adani Energy Solutions Ltd (AESL), previously known as Adani Transmission Ltd, on Monday announced the commissioning of the Kharghar Vikhroli Transmission Ltd (KVTL) project, a critical infrastructure project that will allow an additional 1,000 MW of reliable power for Mumbai to help meet its ever-growing demand for electricity and mitigate grid failures and power cuts. Mumbai’s daily electricity demand is expected to hit 5,000 MW by FY25 from the current peak demand of 4,000 MW, according to Adani Energy Solutions, so 1,000 MW would constitute 20% the city’s power supply in FY25.

02.10 / 13:15

COST UPS Citi WhatsApp Southern country reports Ft Average office rent in India's top 7 cities at ₹33- ₹166/sq ft, among lowest globally: Vestian

₹33 to ₹166 – a square foot per month, which is the lowest among world's leading markets, as per a report released by real estate consultancy group Vestian. In contrast, the monthly average rent in New York, London, Miami, Seattle and Boston is $40-80 per sq ft, and in Hong Kong, Singapore and Shanghai, it is in the range of $3-8 per sq ft a month, according to the data compiled by Vestian. Among the seven Indian cities – New Delhi, Mumbai, Kolkata, Chennai, Pune, Hyderabad and Bengaluru – the highest average office rentals were observed in Mumbai, the country's financial hub, where it ranges from $1-2.

02.10 / 12:03

COST UPS Citi love show Q3 Mumbai Mumbai vs Hyderabad vs Bengaluru vs Delhi vs Pune: Property sale, supply and price trends in Q3 2023

The residential property segment in India remained unstoppable in Q3 2023, despite the usually slow monsoon quarter. According to the latest Anarock Research data, Q3 2023 saw housing sales across the top 7 cities create another new peak with approximately 1,20,280 units sold, against approximately 88,230 units in Q3 2022. Data shows that there has been a 36% annual sales growth in the residential housing segment.

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