City Mumbai Financial News

An aircraft has crashed at Mumbai airport with eight passengers on board. According to details shared by Hindustan Times the VSR Ventures Learjet 45 aircraft VT-DBL flight had been travelling from Vizag (visakhapatnam) to Mumbai On 14.09.2023, M/s operating flight from Vizag to Mumbai was involved in runway excursion (veer off) while landing on runway 27 at Mumbai airport.

Congress on Thursday hit back at Prime Minister Narendra Modi after he dubbed the INDIA bloc parties as «ghamandia», accusing him of using a government function to abuse the opposition. «The PM is back to doing what he does best-insult.

Sanatan Dharma.He was speaking after laying the foundation stone of a Rs 49,000 crore-worth petrochemicals complex at Bina refinery in Sagar district of Madhya Pradesh along with 10 industrial projects in the state. «The 'ghamandia' (INDIA) alliance (leaders) met in Mumbai recently. They neither have any policies or issues nor a leader.

Tata Consultancy Services (TCS) is looking to tap overseas markets, particularly the US, to promote locally developed and manufactured fifth generation, or 5G, radio network gear on the backdrop of Centre’s ambition to 'make in India for the world' to overcome supply chain disruptions. “The N78 5G radios designed by Tejas Networks may be qualified for all greenfield and brownfield 5G opportunities that present themselves to the company globally including that in the US,” TCS chief operating officer NG Subramaniam told ETTelecom. Developed by Saankhya Labs, the N78 radio, compatible with 3300 MHz spectrum band, is being currently manufactured by Bengaluru-based Tejas Networks, which acquired the telecom startup early last year. In 2021, Tata Sons acquired homegrown telecom gear maker Tejas Networks.

Zee Entertainment has been served with an appeal by Axis Finance against it in the NCLAT, Delhi challenging the NCLT's nod for its merger with Culver Max Entertainment, formerly known as Sony Pictures Networks India, the company said in a stock exchange intimation on Thursday. The Mumbai bench of the National Company Law Tribunal on August 10 granted approval l to the composite scheme between Zee, Sony, and Bangla Entertainment, a subsidiary of Sony. The NCLT had dismissed the objections raised by several lenders of ZEEL, including IDBI Trusteeship, IDBI Bank, Axis Finance, JC Flowers Asset Reconstruction Co and Imax Corp. Now, this order has been challenged before the NCLAT.

Jet Airways founder Naresh Goyal on Thursday sent to 14-day judicial custody in a ₹538 bank fraud case, news agency PTI reported. The Enforcement Directorate (ED) arrested Goyal on 1 September under the Prevention of Money Laundering Act (PMLA) following a long session of questioning at the central agency's office in Mumbai.

Wankhede Stadium, where MS Dhoni's iconic winning shot for a six during the 2011 World Cup final landed. As per TOI report, these two seats, now famously known as the '2011 World Cup Memorial seats,' are set to be auctioned for the upcoming 2023 ODI World Cup matches. Announcing this, the MCA has posted on its website under a section titled 'Request for proposal for buyout of Hospitality Package for ICC Cricket World Cup 2023 matches at Wankhede Stadium' that the «Cricket World Cup 2011 Victory Memorial Stand (2 seats) to be auctioned.» It is expected that the auction of these seats will attract substantial bids, given the sentimental value that Indian cricket fans attach to that historic shot played by MS Dhoni. Earlier this year, there were reports suggesting that the MCA planned to create a 'memorial' at the very spot in the stand behind long-on, where the ball had landed after Dhoni's memorable six against Sri Lankan pacer Nuwan Kulasekara sealed India's victory on April 2, 2011.

Cipla Ltd. is in jeopardy as potential buyers have balked at the 1.09 trillion rupee ($13.1 billion) valuation members of the founding family are targeting for the Indian firm in a deal, according to people familiar with the matter. Negotiations between the family members and prospective buyers, including companies in the industry and private equity firms, are no longer moving forward, as the founders are demanding about 1,350 rupees per share, the people said. The price represents a premium of about 10% over Wednesday’s close, according to Bloomberg calculations.

Sun Pharmaceutical Industries on Thursday said one of its wholly-owned subsidiary unit has tied up with US-based Pharmazz Inc to commercialise a drug used to treat cerebral ischemic stroke in India. One of the company's wholly-owned subsidiaries has entered into a license agreement with the US-based biopharmaceutical company to commercialise a first-in-class innovative drug, Tyvalzi, in the country, the Mumbai-based drug major said in a statement. Developed by Pharmazz for potential global use, Sovateltide, is indicated for treating cerebral ischemic stroke.

Mumbai eatery after a dead rat was found in a dish, the Maharashtra Food and Drugs Administration (FDA) has reportedly closed another renowned hotel in the city after cockroaches and rats were found in its kitchen during a raid. FDA officials raided the popular kebab establishment in Mumbai, Bademiya, following a series of complaints regarding hygiene standards at the 76-year-old eatery. During the inspection, FDA officials allegedly unearthed distressing evidence of cockroaches and rats infesting the restaurant's kitchen. Reportedly, the eatery does not have even an official licence issued by the Food Safety & Standards Authority of India (FSSAI). The restaurant owner, in response, acknowledged the absence of an FSSAI licence but asserted that all other necessary permits were in place. They further mentioned that the process of obtaining the missing license from the authority was already underway. «The license until Covid lockdown has been renewed, and for the latter period, we have applied for our license,» the owner told India Today.

Cement prices have been raised for the second time this month in eastern parts of India while remaining steady in central, northern and southern parts of the country, dealers said. Prices were increased 3-10% earlier this month across regions, spurred by weak monsoon rains in August which helped prop up demand even in the seasonally weak September quarter. Cement prices are now at record highs in the Kolkata region, at around Rs 410 per bag, while touching a pan-India high of Rs 435 per bag in Odisha, Nomura Financial said in a note. With the price hikes earlier this week, the region has seen prices rise more than a fifth since August. In Mumbai, company prices are at about Rs 420 a bag, but traders are offering discounts of Rs 10-15 per bag, said a city-based dealer, who did not wish to be identified.

Bombay Dyeing & Manufacturing Company (BMDC) hit 20% upper circuit to scale their 52-week high of Rs 166 on the NSE on Thursday following a nod from the Wadia Group's company's Board to the proposal to sell the land parcel of about 22 acres in Worli, Mumbai to Goisu Realty, a subsidiary of Japanese realty developer Sumitomo for Rs 5,200 crore. This is Mumbai's largest land deal in terms of value. The price action was accompanied with high volumes as over 1 crore shares traded on the NSE around 9:30 am. The whole transaction with Sumitomo will be completed in two phases including the first tranche of Rs 4,675 crore. The balance Rs 525 crore will be received upon completion of certain conditions by BDMC and execution and consummation of the definitive agreements for the second phase. The group has decided to monetise the land parcel to repay the debt that currently stands at Rs 3,969 crore.

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₹58,550 per 10 gm on Multi Commodity Exchange (MCX), and went on to hit an intraday high of 58,557, and a low of ₹58,527. Around 9.30 a.m., MCX Gold for October 5 delivery traded 0.10 per cent lower at ₹58534 per 10 grams.

₹5,200 crore. Bombay Dyeing share price opened at ₹164.80 apiece on BSE.

Dwarka Expressway corridor may soon boast of some of the tallest buildings in the National Capital Region, as the Haryana government is granting an extra floor area ratio (FAR) to promote real estate development along the under-construction expressway. The Haryana government is introducing a new metro line along the expressway, enabling developers to expand under the Transit-Oriented Development policy even as there are height restrictions for buildings elsewhere in the NCR. State government officials have also met with developers in Mumbai and Bengaluru to showcase the development opportunities along the Dwarka Expressway. «Due to the metro line and upcoming global city planned by the Haryana government, the developers on the Dwarka Expressway can plan vertical development, which is not possible in the majority of the NCR. In coming years, we will see the development of utilising the policy benefits for high-rises,» said Mudassir Zaidi, executive director, North at real estate consultancy Knight Frank India. Any building with a height of more than 150 metres meets the tall-building classification.

New Delhi: A three-day G20 meet on financial inclusion will be held in Mumbai starting Thursday, an official statement said on Wednesday. The fourth G20 global partnership for financial inclusion (GPFI) will bring together over 50 delegates from G20 member countries, special invitee countries and international organisations, the statement said.

Adani stocksAdani Group is in talks with banks to refinance debt taken on to fund its purchase of Ambuja Cements, with lenders divided into three categories in what could be one of Asia’s largest syndicated loan deals of the year, Bloomberg reported.Reliance IndustriesReliance Industries arm Reliance Retail is in talks with existing investors including the sovereign wealth funds of Singapore, Abu Dhabi and Saudi Arabia for combined new investments of around $1.5 billion.Read more: Here's the trading setup for today's sessionKPI Green EnergyKPI Green Energy has commissioned a 7.80MW wind-solar hybrid power project comprising 4.20 MW wind and 3.60 Mwdc solar capacity under the CPP segment.NBCCNBCC has been awarded consultancy and project management services for upcoming Infrastructural related projects of Bokaro Steel Plant from SAIL.IRCTCIRCTC has signed a Memorandum of Understanding (MOU) with Maharashtra State Road Transport Corporation (MSRTC) to enable MSRTC's online bus booking services via IRCTC's bus booking portal/website.Bombay DyeingBombay Dyeing approved a proposal to sell the land parcel of about 22 acres in Worli, Mumbai to Goisu Realty, a subsidiary of Japanese realty developer Sumitomo for Rs 5200 crore.WiproWipro has launched a cyber defense center (CDC) in Dusseldorf, Germany.

ET Startup Awards (ETSA) have stood out amid a crowded ecosystem and have gone on to become successful businesses. We look at a few of them from previous editions of the awards.Atomberg Technologies – Best on Campus (2019)

MUMBAI : The Reserve Bank of India (RBI) on Wednesday said regulated entities have to release original property documents to retail loan borrowers within 30 days of full repayment, and any delay would attract a penalty. This would include consumer credit, education loans, loans given to create or enhance immovable assets and loans for investment in financial assets like shares, debentures and others. RBI has set a penalty of ₹5,000 per day that banks must pay the borrower for each day of delay in returning the original documents.

MUMBAI : Lenders to Go First have turned wary of extending more loans to help the grounded airline return to skies, two people aware of the matter said, given the protracted legal battle between the company’s lessors and the resolution professional. The banks had agreed to grant an interim financing of ₹600-700 crore to help the low-cost airline take off with a lean fleet and stay afloat. “The lenders have already disbursed an interim financing of ₹100 crore to Go First," one of the two people said on condition of anonymity.