City Mumbai Financial News

16.08 / 09:51

Entertainment Parke film Actor performer country star Rajinikanth-starrer 'Jailer' zooms past Rs 400 cr globally on Day 6 box-office collection

Rajinikanth's latest film 'Jailer' has hit it out of the park at the worldwide box-office. On the sixth day since its release on August 10, the movie has breached the Rs 400 crore-mark, globally, according to film trade analysts Manobala Vijayabalan and Ramesh Bala. 'Jailer' earned Rs 64.27 crore on Independence Day (Day 6), taking its worldwide total to Rs 416.19 crore.

16.08 / 09:21

UPS Citi Twitter Digital Man Dreams Poster Mumbai Dream of going global: Mumbai man's roadside coffee stall with poster goes viral

Mumbai, Mayank Pandey, who has carved out a unique spot for himself in the bustling city by setting up a modest coffee stall named «The Coffee Bar.» The viral moment occurred when a passerby, D Prasanath Nair, shared his encounter on X, the former Twitter platform. The eye-catching feature of Mayank's stall is a poster that succinctly conveys his lofty ambition: «It's my dream to take my The Coffee Bar to global market.» This poster speaks volumes about his determination to transcend local boundaries and introduce his creations to a global audience. Situated in the vibrant locale of Thakur Village in Kandivalli East, Mayank's stall boasts a variety of coffee options, ranging from cappuccino and mocha to latte and black coffee.

16.08 / 09:17

Twitter Action social elon Income tax rules for X users: How income from Elon Musk's X (Twitter) will be taxed in India

earning money via X (formerly Twitter). Those who are receiving monetary benefits have been sharing screenshots of money credited to their bank accounts.

16.08 / 06:43

UPS show NOT Deposit boom with Rs 2,000 notes may not last: Bankers

MUMBAI: Currency with the public has dropped by Rs 1.56 lakh crore to nearly Rs 32.2 lakh crore as on July 28 from Rs 33.7 lakh crore on May 19. The decline has been due to RBI’s move to withdraw Rs 2,000 notes — with most now deposited in banks. Consequently, banks have added Rs 9.7 lakh crore to their deposit base, which now stands at Rs 190.2 lakh crore, marking an increase of 5.4% during the current fiscal up to July 28. This is nearly double the deposit accretion of R

16.08 / 06:43

Mobile Is it a bank holiday today in Maharashtra for Parsi New Year?

In Maharashtra, banks will work only for remaining three days as banks witnessed two back to back holidays on August 15, and 16. Banks across India were closed on August 15 on the occasion of the 77th Independence Day. In August, state-wise holidays include Tendong Lho Rum Faat, Independence Day, Parsi New Year (Shahenshahi), Tithi of Srimanta Sankardeva, First Onam, Thiruvonam, Raksha Bandhan, Raksha Bandhan/Sree Narayana Guru Jayanthi/Pang-Lhabsol.

16.08 / 06:43

Aware Action Celebrity Shell track Gaming apps converting earnings to crypto, Rs 700 crore moved out of India, reveals GST probe

cryptocurrency and the utilization of networks of shell companies. As per a ToI report, at the center of one of the largest such networks under investigation stands Parimatch, a Cyprus-based group, that even engages in advertising during local sports leagues on television. The Directorate General of Goods & Services Tax Intelligence (DGGI) in Mumbai has recently managed to uncover and dismantle one such network linked to Parimatch.

16.08 / 05:31

UPS Provident Aware Manufacturing Platform Thyssenkrupp country Deal Indian Germany, Spain join Mazagon Dock Shipbuilders in contest for $4.8 billion Indian submarine deal

defense manufacturing giants are seeking to win a Rs Rs 40,000 crore ($4.8 billion) order to build submarines in India as the South Asian nation looks to strengthen its navy to counter China’s expanding naval presence in the Indo-Pacific region. Indian officials are currently evaluating competing bids to build six of the vessels in the country, senior Indian officials aware of the developments said, asking not to be named because discussions are private.

16.08 / 01:37

COST Lowe's Manufacturing NIFTY performer ETMarket Fund Manager Talk-More upside left in PSU banks as best in that class still reasonably valued: Spark Asia Investment

MUMBAI — The Indian banking sector exited its worst-ever downcycle after Covid, which led to a major clean-up in the balance sheet across the board. But it’s public sector banks that have seen an almost 360 degree shift in earnings performance, and this reflects in the stock prices, as many of them turned multibaggers since the pandemic. Despite the rally, many of the PSU banks are still reasonably valued, believes P Krishnan, CIO and Managing Director, Spark Asia Impact Managers.

15.08 / 19:35

UPS BLOCK Aviat Airlines Gangwal to sell around 4% of IndiGo for ₹3,370 cr

MUMBAI : IndiGo co-founder Rakesh Gangwal and his family will sell around 4% stake in InterGlobe Aviation Ltd for up to $450 million ( ₹3,370 crore) on Wednesday, according to deal terms seen by Mint. The block sale is part of Gangwal’s plans to cut his stake in InterGlobe Aviation, which operates IndiGo, India’s largest airline. In terms of value, this will be the largest block deal yet by Gangwal, who began selling his shares in the past 12 months.

15.08 / 19:35

Citi Provident Airlines Strategy Boeing AI, AI Express integration: Code share, route recast

NEW DELHI : Air India Express Ltd is set to sign a code-sharing agreement with Air India Ltd, pull out from all routes requiring business-class capacity, and relocate operational control centres for AirAsia India and Air India Express to a new Gurugram office starting this month, two airline executives said on condition of anonymity. These steps are part of a strategy that includes the merger of AirAsia India and Air India Express, which will operate as Air India’s low-cost unit, offering budget flights on non-trunk routes.

15.08 / 19:35

COST UPS Aware Indian Costs Indian cos’ annual legal costs hit ₹40K cr on rising M&A, IP cases

MUMBAI : Indian companies’ aggregate legal expenses hit ₹40,000 crore in each of the last two fiscal years, two industry executives said, a figure that is expected to rise further driven by white-collar crimes, insolvency cases, mergers and acquisitions (M&As), intellectual property (IP) matters, and regulatory filings. Law firms have bulked up to meet rising demand, recruiting hundreds of law grads from campuses as well as from rival firms.

15.08 / 16:57

UPS IPO Extreme CEO Chase IPO mkt set for revival with $10.7 bn public float in pipeline

MUMBAI : The country’s primary market may be headed for a revival with at least 71 companies firming up plans to launch their initial public offerings (IPO) in the second half of fiscal 2024, according to Delhi-based primary market tracker Prime Database. According to Prime Database, these companies could raise as much as $10.7 billion or ₹89,069 crore by selling their shares to the public and listing them on exchanges through IPOs in the coming six months.

15.08 / 16:57

AXY NIFTY Indian FPIs turn wary on Indian stocks, become net sellers of futures

MUMBAI : Amid expectations of heightened market turbulence in the wake of India’s surging retail price inflation and slowing merchandise exports, which impacts the rupee, FPIs have turned net sellers of Indian stock futures of a significant quantity in just four days, a rare occurrence, according to market experts, who see this as a move to hedge their profits against a falling market. From being cumulatively net long 19,130 stock futures contracts on 9 August, they turned net sellers of 83,366 contracts on 14 August, during which period the Nifty shed a percent or 198 points through Monday’s closing of 19435.55.

15.08 / 16:57

UPS Citi Provident FIVE Metro country ‘MF industry to double its AUM in next 5 years’

₹46 trillion, is growing rapidly and it will get the next ₹40 trillion in just five years. Gupta said the industry has been doubling its AUM roughly every five years since the year 2000 and so it is safe to assume that the next doubling will also happen in the next five years. “When will the next 40 trillion happen: I think it is fairly simple, it will happen in the next five years," said Gupta, while speaking on the topic ‘the next 40 trillion’ at the Mint Annual Mutual Fund Conclave in Mumbai recently.

15.08 / 16:57

UPS Progressive SENSEX country audience Mirae Asset India chief bets big on India’s growth story

₹7,625 in July from ₹8,367 crore the previous month, according to data from the Association of Mutual Funds of India. It is in this context that Swarup Mohanty, chief executive and director of Mirae Asset Investment Managers, shared some interesting insights on the future prospects of the asset management industry . “The question we ask everyone is: What is on your mind: the Sensex climbing to 65,000 or India progressing to become the third largest economy in the world," said the Mirae India chief at Mint’s Annual Mutual Fund Conclave, 2023, held in Mumbai recently.

15.08 / 16:39

Citi Twitter stage cricket Registration begins for ICC Men’s Cricket World Cup 2023 tickets

ICC Men's Cricket World Cup 2023 tickets to secure their spot at experiencing the joy of cricket in the one-day format. The International Cricket Council (ICC) took to X, formerly known as Twitter to announce the registration for World Cup 2023 tickets.

15.08 / 16:33

Target Dash FIVE Gap Align band Core inflation Cooling core inflation fails to cheer amid supply flux

MUMBAI : A declining core inflation, amid a 15-month high retail inflation, gives no reprieve to the Reserve Bank of India (RBI), which recently called for supply-side interventions to cushion food price shocks. Inflation, without accounting for food and energy prices, known as core inflation, stood at 4.9% in July, as against 5.1% in June. Economists believe it will remain sticky in the coming months.

15.08 / 16:33

AXY NIFTY Indian FPIs turn wary on Indian stocks

15.08 / 16:03

Target Dash FIVE Gap Align band Core inflation Core inflation brings no joy to RBI as supplies tighten

15.08 / 14:55

Blockchain UPS Citi Digital Strategy country Bengaluru fresher hiring sentiment down by 10%, hit by slump in IT sector

Bengaluru's companies said they were willing to hire freshers in the second half of this year — a fall from 75% in the first half — according to a survey by TeamLease Edtech, a division of Bengaluru-based TeamLease Group. The survey attributes this to the decline in hiring in the IT sector. According to data from staffing firm Xpheno, IT services giants are expected to reduce their overall hiring by 40% in fiscal 2024.

15.08 / 14:19

Citi Digital CAT Destiny track country events G20 events introduced India's capabilities, diversity to world: PM Modi

India's G20 presidency had introduced the country's capabilities and diversity to the world, Prime Minister Narendra Modi said on Tuesday and asserted that the country is becoming a «voice of the Global South». In his address to the nation on the 77th Independence Day, he also said that India's small towns may be small in size or population, but in having hopes and aspirations, they are «not less than anyone». Modi also recalled his visit last year to Bali, where India was handed over the G20 presidency by Indonesia.

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