City Mumbai Financial News

Godrej Properties has acquired nearly 110 acres of land parcel in Nagpur where Godrej Group's property arm plans to develop plotted residential units, with a saleable area exceeding 2 million square feet. The land parcel is located near the recently operationalised Samruddhi Mahamarg, the expressway connecting Mumbai and Nagpur, and the MIHAN Special Economic Zone (SEZ). «The addition of this new project to our portfolio fits within our strategy of strengthening our presence across key micro-markets in India,» said Gaurav Pandey, MD & CEO of Godrej Properties.

Mumbai/New Delhi: Retailers and logistics service providers are struggling to strike a balance between hiring contract workers to maximize festive season sales and reducing costs, amid efforts to boost last-mile connectivity after two quarters of muted sales. While firms are rolling out marginal hikes for their sales teams, recruiters said they are seeking to hire contract workers at minimum wages. Therefore, getting manpower across states is becoming a challenge, they added.

Mumbai: The Multi Commodity Exchange of India Ltd (MCX) stock witnessed significant volatility on Friday after the Securities and Exchange Board of India (Sebi) directed it to postpone the planned migration to a new trading platform on 3 October, in response to a petition filed by the Chennai Financial Markets and Accountability (CFMA) before the Madras high court. MCX said in an exchange filing that it had received a Sebi-forwarded letter on 27 September from CFMA regarding its migration to the new commodity derivative platform (CDP).

Mumbai: India’s largest technology services firm Tata Consultancy Services (Ltd) has asked some of its teams to attend office five days a week, a move which may prompt rivals with a hybrid work model to follow suit. “We got a mail few weeks ago, asking our team to come to office five days a week. Until now, it was three days a week," a TCS employee said.

New Delhi: Tata Group-owned Air India is expected to consolidate its presence and increase efficiency across 100-plus routes, or over 50 origin-destination pairs, to fully utilize the group’s network of four airlines. According to Competition Commission of India’s assessment on deployment of both air traffic and seat capacity for 2022-2023, Air India and Vistara has shared presence in 48 origin-destination pairs, or on 96 routes.

CBI court in Mumbai on Friday granted bail to former policeman Sachin Waze in connection with a 2021 extortion case filed on the complaint of a hotelier. Waze had approached the special court in August this year after being denied bail by a metropolitan magistrate. Waze, currently in judicial custody in the Antilia bomb scare and other cases being probed by Enforcement Directorate and Central Bureau of Investigation, was placed under arrest in the extortion case in November 2021.

₹1,800 crore through an initial public offering (IPO). As per the company's DRHP, its maiden public issue will be through a fresh issue of equity shares with no Offer for Sale (OFS) component. The company is co-owned by Saraf Hotels Limited and Two Seas Holdings Limited, an affiliate of global hospitality company Hyatt Hotels Corporation.

₹470 crore. In Mumbai, it has secured the project under Slum Rehabilitation Act (SRA) for redeveloping an area spanning 6.8 acres in the city's Bhandup suburb. The project has a “sale potential of 1 million square feet (carpet)", the company said in a release.

Hubtown Limited is one ofIndia's leading real estate development companies, which has kept its primary focus on the city of Mumbai. The developers continue to raise the bar of a standard by offering quality projects in meticulously planned luxury homes, IT parks, and commercial spaces. Hubtown’s superior construction quality has made it a popular name in the real estate sector. Paradigm Realty is an organisation spearheaded with credible experiencein deliveringcutting-edge real estate to the city of Mumbai by employing global contemporary techniques, which ensure quality standards and timely delivery of their product. Disclaimer: This article has been produced on behalf of the brand by HT Brand Studio. "Exciting news! Mint is now on WhatsApp Channels

Also Read: SEBI asks MCX to keep commodity derivative platform launch in ‘abeyance’ NSE said that 45% of the new 1 crore unique PAN based investor registrations came from beyond the top 100 cities. States from Northern part of India accounted for 43% followed by West with 27%, South by 17% and East by 13% towards the last 1 crore new investor registrations.

IHG Hotels & Resorts is expanding its portfolio in Mumbai with the signing of new hotels with Nikhil K. Raheja and Vijayta Raheja. With this partnership, IHG will launch its new five-star brand voco in Mumbai, along with a new Holiday Inn Express & Suites property.

MUMBAI : Adani Power Ltd’s (APL) promoter group entities—Fortitude Trade and Investment Ltd and Emerging Market Investment DMCC—hiked stake in power generation firm by 2.21%. The Adani promoters purchased shares in the company from open market between 5 September and 25 September, according to regulatory filings. The value of the stake purchased is around ₹3,170 crore, according to volume weighted average price of Adani Power during said period.

MUMBAI : The MCX stock surged 9% to an almost two year intraday high of ₹2,114.40, after the country’s largest commodity derivatives bourse informed the stock exchange that it would migrate to the TCS commodity derivatives platform by 3 October. The Street cheered the news as the migration will end the heavy cost that MCX was paying its vendor 63 Moons for extension of its software contract since September last year. The cost incurred for the one-year extension stands at ₹472 crore, against the ₹60 crore per annum it was paying 63 Moons for the platform before the contract expired in September last year.

₹6.55 trillion in the second half of the current financial year, sticking to its budgeted borrowing plans. The amount is 42.45% of its budgeted gross market borrowing of ₹15.43 trillion for the full year, which will be done through dated securities, including ₹20,000 crore through sovereign green bonds. The government will also issue 50-year securities for the first time, in response to a market demand for longer-duration securities.

MUMBAI : Ashwin Dani was central to the development of Asian Paints over the 1980s and 90s. He was central in bringing the application of modern chemistry to Asian Paints’ products. Asian Paints, under his watch, applied increasing amounts of computer technology.

MUMBAI : The MCX stock surged 9% to an almost two year intraday high of ₹2,114.40, after the country’s largest commodity derivatives bourse informed the stock exchange that it would migrate to the TCS commodity derivatives platform by 3 October. The Street cheered the news as the migration will end the heavy cost that MCX was paying its vendor 63 Moons for extension of its software contract since September last year. The cost incurred for the one-year extension stands at ₹472 crore, against the ₹60 crore per annum it was paying 63 Moons for the platform before the contract expired in September last year.

₹140 crore it raised last December – at a valuation of $340 million – is also untouched. It may go for its next round of funding in about 8-10 months. “We have been building our business frugally," said Lakhotia, a former vice president of Paytm Payments.

TransIndia Real Estate Limited, an Allcargo Group company, has acquired two land parcels for warehousing with a combined value of Rs 231 crore in Gurgaon’s Farukh Nagar, two people aware of the deal said. Both land parcels are located in the Model Economic Township (MET) of Reliance Industries. The first property piece, measuring 56.52 acres, was purchased for Rs 134 crore by Allcargo Inland Park pvt Ltd, and the second, measuring 41.06 acres, was purchased by Jhajjar Warehousing pvt Ltd for Rs 97.5 crore, as per documents accessed by analytic firm CRE Matrix.

Ashwin Dani, whose father co-founded one of Asia's biggest paint companies, Asian Paints, where Dani was the non-executive chairman, India's industry has lost an innovative entrepreneur and yoga a tireless evangelist. Dani, a steadfast disciple of legendary Yoga guru BKS Iyengar, had set up an Iyengar Yoga studio at his home in Mumbai. According to Forbes India, Dani's real-time wealth currently stands at $7.7 billion. With Dani's technological expertise and entrepreneurial zeal, Asian Paints lived up to its name and became Asia's second-biggest paint company after decades of leadership in the Indian market.

₹23 lakh (Rupees Twenty Three lakh only) on Saraswat Co-operative Bank Limited, Mumbai for contravention of various provisions Banking Regulation Act, 1949 (BR Act), and the directions issued by RBI on ‘Loans and advances to directors, their relatives, and firms/concerns in which they are interested’. The Saraswat Co-operative Bank had contravened the provisions of the BR Act and the RBI directions issued thereunder when it renewed a credit facility sanctioned to a borrower company while a director of the bank was holding the position of an independent director in the borrower company, the RBI said.

ALSO READ: Mumbai rains: Heavy rainfall predicted, flight operations resume after temporary hit Here's what RMC, Mumbai said, “Thunderstorms from east approaching Mumbai as well. Thunderstorms are accompanied by lightning, gusty winds, and moderate to short intense spells of rainfall very likely over Mumbai, Thane, Raigad, and Palghar during the next 2-3 hours.