City Mumbai Financial News

MUMBAI : L &T Finance Holdings Ltd shares ended the day 3% down at ₹126.80 after US-based investment firm Bain Capital sold a 2.82% stake or 70 million shares in the company for ₹910 crore through a block deal. The shares were sold at ₹130 apiece.

Mining baron Anil Agarwal on Tuesday said the Konkola Copper Mines, which returned to his London-based firm Vedanta Resources last week, can be moved to the group's India-listed firm Vedanta Ltd «at the right valuation». Last week, Zambia agreed to return control of Konkola Copper Mines (KCM) to Vedanta Resources, which is the parent firm of Mumbai-listed Vedanta Ltd. The Zambian government, which owns a 20 per cent stake in KCM, will allow Vedanta to resume control and operate KCM's mines and smelter after the company renewed a pledge to invest more than USD 1.2 billion to increase output and repay outstanding debts. «Going forward, my thought is that we must maximize synergies between KCM and Vedanta Ltd's refining/smelter businesses in UAE & India,» Agarwal said in a post on X.

Pramod Sawant on Tuesday said Mughals, British and other rulers failed to wipe out the Sanatan Dharma from the country in the past, but eradicating it is now the agenda of the INDIA alliance, and hence Hindus need to wake up and show the opposition bloc its place. Referring to Tamil Nadu minister Udhayanidhi Stalin's remark calling for eradication of Sanatan Dharma, and blaming it for promoting division and discrimination among people, he said the statement was a «planned» one. Addressing a press conference at Gwalior, around 430 km from here, Sawant also said the 'one nation, one election' will ensure that the country develops at a faster pace as imposition of the model of conduct due to frequent elections creates hurdles in development at present. When asked about the use of the name 'Bharat' during the G20 summit, the Goa CM said the name Bharat is already there in the Constitution and it is already being used everywhere since Independence. «The United Progressive Alliance (UPA) changed its name to INDIA alliance, which is actually new wine in an old bottle.

Sindhu Gangadharan, senior vice president and managing director of SAP Labs India has been appointed as vice chairperson of IT industry lobby group National Association of Software and Service Companies (nasscom). The announcement comes a week after Cognizant India's chairman and managing director Rajesh Nambiar, chairman and managing director was named as its chairperson. He was succeeding Anant Maheshwari, former president, Microsoft India, in the role. This means Gangadharan will assume the top chairperson role in the next cycle.

legal technology startup LegalPay has closed a Rs 12 crore interim financing bond. The investment instrument in the fixed income category was launched in January and reported a coupon rate of 14% compounding annually.

Maratha quota activist Manoj Jarange on Tuesday said he will continue his fast until the government issues an order offering reservation to his community in Maharashtra. Jarange, aged around 40, has been on an indefinite hunger strike since August 29 at Antarwali Sarati village in Jalna district of central Maharashtra, demanding reservation in jobs and education under the OBC category for the Maratha community. «I will continue my fast until the state government comes with an order offering reservation to the Maratha community.

Mumbai, 1st September: Shivaami announced that it has received a 2023 Google Cloud Partner of the Year Award. A magnificent fourth time for their stellar performance.

₹5 lakh. The announcement came as a surprise during the launch event of the 'One Week One Lab' program by CSIR-National Institute of Science Communication and Policy Research (CSIR-NIScPR).

MUMBAI — Kaynes Technology is one of India’s leading end-to-end and IoT solutions-enabled integrated electronics manufacturers. The company’s business includes OEM- Box build, OEM-Printed Circuit Board Assemblies (PCBAs), and ODM services.

Lok Sabha elections. Maratha outfits also called for a bandh on Monday in protest against the recent lathi charge by the police in Jalna district against protesters demanding reservation in Maharashtra.

upcoming Cricket World Cup 2023 has been building up for some time. Fans across India are hoping that ‘conservative’ India can lift the trophy after 12 years on home soil. India triumphed over Sri Lanka in the 2011 Cricket World Cup.

Westlife is set to enthrall fans in India as the band travels to the country for its much-anticipated "The Wild Dreams" Tour this November. The global best selling pop band, consisting of Nicky Byrne, Kian Egan, Shane Filan and Mark Feehily, will perform live in Mumbai, Bengaluru, Delhi as part of the India leg of the «The Wild Dreams» Tour. The show is brought to India by BookMyShow Live. The tour will kick-off at the Members Enclosure, RWITC, Mahalaxmi Racecourse, Mumbai on November 24, followed by Embassy International Riding School Ground, Bengaluru on November 25 and culminate at the Jawaharlal Nehru Stadium in New Delhi on November 26, 2023. «India has always held a special place in our hearts. We are so excited to share The Wild Dreams tour with all of our fans in India. Get ready for an unforgettable night of music and memories with us!» Westlife said in a statement. During the concerts, the group is expected to perform their greatest hits including «Swear It Again», «If I Let You Go», «Uptown Girl» and «Hello My Love» as well as fresh pop anthems such as «Star Light» and «Alone Together» from the 2021 special-edition studio album «Wild Dreams», released to critical acclaim. The global pop sensation kicked off the tour in 2022 performing across the UK, including a sold-out headline show at London's iconic Wembley Stadium.

Saudi Arabia on Monday said it will consider setting up an office of its sovereign wealth fund in GIFT City to facilitate investments. Saudi investment minister Khalid A. Al Falih said within the next few weeks, he would send a strong delegation to GIFT City to explore the opportunity.

MUMBAI : Byju’s has put up kids’ reading platform Epic and higher education platform Great Learning for sale, three people aware of the development said, as the edtech giant tries to raise money and pay off a $1.2 billion loan it raised in November 2021. The sale will also help Think & Learn Pvt. Ltd, which runs Byju’s, weed out businesses that it does not consider central to its long-term goals, the people said on condition of anonymity.

MUMBAI : Investors added ₹3.37 trillion in wealth on Monday as National Stock Exchange (NSE) of India Ltd’s Nifty index breached the psychologically significant 20,000 mark before ending trading slightly lower. The index soared to an intraday high of 20,008.15 before ending at a record 19,996.35, surpassing its previous high of 19,991.85 made 36 sessions earlier amid persistent institutional flows.

ChatGPT to plan their itinerary, and then visiting travel agents to book their flights and holidays. Scoot currently flies to six destinations in India and plans to resume operations to Chennai from 5 November. It also seeks to tap the potential in other Indian international airports, such as the upcoming airports in Jewar and Navi Mumbai.

MUMBAI : State-owned Indian Renewable Energy Development Agency Ltd has filed draft papers with the Securities and Exchange Board of India (Sebi) to raise funds through its initial public offering (IPO). Indian Renewable Energy Development Agency’s IPO is first by a public sector enterp-rise after Life Insurance Corp.’s issue in May 2022. The IPO will comprise a fresh issue of up to 403.16 million shares and an offer for sale (OFS) of up to 268.78 million equity shares by the President of India, acting through the ministry of new and renewable energy.

MUMBAI : Engineering and construction giant Larsen and Toubro Ltd (L&T) on Monday evening increased its offer price to ₹3,200 apiece from ₹3,000 per share, for its proposed upcoming ₹10,000 crore share buy back, as the stock rallied and the premium to market price narrowed since the original announcement in July. On 26 July, L&T had announced the buyback—the first such offer in its eight-decade-long history.

Tiger Global-backed fintech unicorn Razorpay has acquired Mumbai-based JHKP Technologies Pvt. Ltd, which operates digital invoicing and customer engagement platform BillMe, in a bid to expand its offline business. Razorpay didn’t disclose the financial details of the transaction.

MUMBAI : Rajiv Jain-led US-based boutique investment manager GQG Partners Llc, on Monday, acquired an additional 5.1 crore or 0.76% stake in private lender IDFC First Bank Ltd from V. Vaidyanathan, MD & CEO of the bank, for ₹478.7 crore through block deal on the exchange. GQG Partners increased its stake in IDFC First Bank to 3.36% with an additional purchase of 5.1 crore shares.

MUMBAI—The financial capital of India has become a colossal construction site. The barriers that try to keep daily life on track in the metropolis on the country’s west coast proclaim: “Mumbai is upgrading." A new road being built along the Arabian Sea is aimed at easing congestion in a city where three-lane roads are frequently occupied by five lanes of honking traffic. A rapid-transit metro system is being extended to ease pressure on suburban trains overflowing with people.