City Mumbai Financial News

Everest Fleet has raised Rs 50 crore (around $6 million) from private equity firm Paragon Partners, as it looks to accelerate growth and expand into new markets. The equity investment into Everest Fleet has come just a month after it raised an undisclosed amount of debt from mid-market-focused alternative investment fund Arka Credit Fund I, by issuing non-convertible debentures.

Senco Gold & Diamonds on Thursday said they have taken a major step forward to tap the digital landscape with the launch of its first virtual showroom, Sencoverse, on the metaverse. The company claimed this to be India's first virtual jewelry retail space within the metaverse, with a primary focus on engaging with the new generation of customers. The jewelry retailer, in an official statement, emphasized its commitment to delivering personalized and convenient shopping experiences to digitally adept millennials and Gen Z shoppers, who are widely regarded as the future of the retail industry. «We believe that the digitally savvy millennials and Gen Z shoppers are the future of retail, and we want to be at the forefront of providing them with the personalized and convenient shopping experiences they want and need,» said Suvankar Sen, MD & CEO of Senco.

₹1000 crore mark worldwide, reports have now stated that Actor Nayanthara is unhappy with Director Atlee. With her performance being appreciated by the fans and critics, a source told Hindustan Times that he is upset with the director as her role was significantly sidelined in the film. Moreover, the source also said that Deepika's character was elevated and was not a cameo at all.

Royal Enfield Rental will be accessible in cities such as Ahmedabad, Mumbai, Gujarat, Maharashtra, Chandigarh, Dharamshala, Leh, Manali, Haridwar, and Rishikesh. Additionally, the manufacturer will extend its motorcycle rental services to Udaipur, Jaipur, Jaisalmer, Goa, Kochi, Bhubaneswar, Thiruvananthapuram, Visakhapatnam, Delhi, Chennai, Bengaluru, Hyderabad, Shimla, Nainital, Bir Billing, Siliguri, and Dehradun. The company says that it intends to include more cities to this roster as part of its expansion plans.

₹350-400 crores to a real estate company, according to a report published by Hindustan Times. Dev Anand resided in this property with his Kalpana Kartik, children Suniel Anand and Devina Anand. Once, famous actors Madhuri Dixit Nene and Dimple Kapadia also resided in the neighboring apartments of the property, which is located in a prime residential area.

Hindustan Times report. “With some diplomats having received threats on various social media platforms, Global Affairs Canada is assessing its staff complement in India. As a result, and out of an abundance of caution, we have decided to temporarily adjust staff presence in India," the spokesperson said as quoted by HT. Besides this, Canada has also demanded increased security for its embassies, consulates, and high commissions, including those in Mumbai, Chandigarh, Bengaluru, and New Delhi.

West Coast Paper Mills climbed 4% to Rs 697 in Thursday's trade on BSE after the firm said that it has received preliminary verbal approval from the National Company Law Tribunal (NCLT), Chennai Bench, for its resolution plan submitted to acquire Uniply Decor. «Our consultant, Lagrange Point Advisors LLP, an investment banking firm based in Mumbai, informed us that the resolution plan to acquire Uniply Decor has been approved verbally by the Chennai Bench of the NCLT. The approval has been received under the provisions of Insolvency and Bankruptcy Code, 2016,» West Coast Paper Mills said in an exchange filing. The resolution plan, submitted by West Coast Paper Mills Ltd and previously approved by the Committee of Creditors of Uniply Décor Ltd, marks a crucial step towards the company's expansion and diversification efforts. At 11.04 a.m., the scrip was trading 3.4% higher at Rs 693 on BSE.

₹59,3155 per 10 gm on Multi Commodity Exchange (MCX), and went on to hit an intraday high of 59,315, and a low of ₹59,004. Around 10:05 a.m., MCX Gold for October 5 delivery traded 0.60 per cent lower at ₹59050 per 10 grams. Silver price today opened slightly higher at ₹72,970 per kg on MCX and went on to hit an intraday high of ₹72,970, and a low of ₹72,195.

Lalbaugcha Raja is one of the oldest and the most popular mandals in the metropolis attracting around one crore devotees including celebrities and politicians following which tight arrangements have been made. The history of the Lalbaugcha Raja is quite famous as it is the popular Ganesh idol of Lalbaugcha Raja Sarvajanik Ganeshotsav Mandal, located at Putlabai Chawl, a place of worship founded in 1934. The Lalbaugcha Raja Ganapati idol has been taken care of by the Kambli family for over eight decades.

Incubate Fund Asia, a sector-agnostic and Japan-origin venture capital firm, on Wednesday announced the first close of its third fund, which has a target corpus of $50 million (Rs 416 crore). The Singapore-based fund also said it is rebranding itself as Incubate Fund Asia. Previously, as Incubate Fund India, it only backed domestic startups such as Captain Fresh, Yulu, ShopKirana and Plum from its first two funds since 2016. It has backed 27 companies so far.

New Delhi: Bengaluru-based fintech firm Perfios has acquired Chennai-based open finance platform Fego.ai, two people aware of the development told Mint. The discussions started during Global Fintech Fest 2023 in Mumbai recently. The deal was closed this week.

MUMBAI : Adani Green Energy Ltd, which is planning to raise $1.5 billion, may secure a big chunk of it from French energy giant TotalEnergies SE, two people aware of the matter said. The Gautam Adani-led group’s renewables firm will use $750 million of this amount to repay bonds. “Adani Green has got an approval to raise $1.5 billion this fiscal for capex and debt repayment.

NEW DELHI, MUMBAI : Indian benchmark indices saw their steepest single-day drop in two months, declining over 1% on Wednesday, dragged down by selling in HDFC Bank and other index heavyweights. Weakness in global markets, with crude oil prices nearing $100 a barrel, also made investors cautious ahead of the US Federal Reserve’s policy meeting. The Sensex closed 1.2% down at 66,800.84 and the Nifty by a similar margin to 19,901.4.

MUMBAI : Byju’s has named Arjun Mohan as the chief executive officer (CEO) of its India operations, succeeding Mrinal Mohit, a founding employee of the Bengaluru-based edtech startup. Mohan assumes the role at a time when the embattled online tutor is trying to monetize non-core assets to repay loans. The group has put two of its businesses—reading platform Epic and higher education platform Great Learning—on the block to pay off a $1.2 billion loan raised in November 2021.

aviation ministry, a person aware of the matter said. “According to the DGCA, Akasa Air is eligible to apply for international scheduled air transport services," the ministry informed the airline. “However, it is also informed that based on traffic rights to be allocated to Akasa Air, scrutiny of country-specific preparedness will be carried out by the DGCA before permitting Akasa Air to operate international operations." Since 2019, Indian airlines have shown strong interest in expanding their presence in the international market due to the potential for higher yields.

Himanshu Vidhani joins the law firm Chandhiok & Mahajan(C&M) as a partner for litigation and dispute practice at the Mumbai operation from Khaitan & Co. His practice involves insolvency & restructuring, contractual claims, shareholders and investor disputes and international commercial arbitrations. An alumnus of Jaipur National University, Vidhani started his career with law firm Wadia Ghandy & Co. in June 2013.

MUMBAI : Liquidity deficit in the banking system widened to ₹1.46 trillion on Monday, the most in over four years, on account of advance tax outflows and goods and services tax (GST) collection. This is the highest single day shortfall since 23 April, 2019. Banks’ borrowing from the Reserve Bank of India (RBI) through the marginal standing facility (MSF) window also stood higher ₹ 1.97 trillion.

As weekends approach, more and more people are opting for road trips using services like Zoomcar, DriveU, and QuickRide during the period leading up to the festive season. Simpl, a payment platform, has reported that the number of bookings on these merchant platforms, made through its one-tap checkout, has doubled in August this year compared to the same time in 2022. Reportedly, out of the different ways to travel, more and more people are choosing to rent self-driven cars.

Hardeep Singh Nijjar, a pro-Khalistan leader in Canada, followed by the expulsion of diplomats, experts think it will have very little impact on Canadian investment in India and the overall market sentiment. Concerns have been growing that the fresh tensions in the India-Canada relationship will see some outflow as Canada Pension Plan Investment Board, the largest pension manager in Canada, has significant holdings in some of the Indian companies.

Kuku FM on Wednesday said it has raised $25 million in a Series C funding round co-led by the Nandan Nilekani-founded Fundamentum Partnership and International Finance Corporation. Temasek-backed Vertex Ventures, which closed its fifth fund at $541 million last week, also participated in the funding, as per a statement.

Mark Zuckerberg on Wednesday said India is leading the world on how people and businesses have embraced messaging as a better way to get things done, as the social media giant unveiled a slew of new tools aimed at supercharging businesses using WhatsApp. Announcing the line-up of key offerings for WhatsApp, Zuckerberg said the company has continued to innovate with its messaging formats, group chats and broadcast channels. «India, (is) a country that's at the forefront of a lot of what we're going to talk about today. You're (India is) leading the world in terms of how people and businesses have embraced messaging as the better way to get things done.» Zuckerberg said during a virtual address at Conversations event in Mumbai.