City Mumbai Financial News

tractor exports in the next three years, according to a top company official. The Mumbai-based auto major, which is the world's largest tractor maker by volume terms, exported around 18,000 tractors last fiscal. The company said it has invested Rs 1,200 crore on developing the OJA platform which consists of four platforms that could churn out 40 different trims in the 20-70 HP power output.

Independence Day celebrations at the Supreme Court, DY Chandrachud talked about PM Modi's speech. "PM today in his Independence Day speech at Red Fort mentioned the efforts of the Supreme Court to translate the judgments in regional languages.

Ashwini Bhide, IAS, Additional Municipal Commissioner, BMC and Managing Director, Mumbai Metro Rail Corporation, was recognised as the winner of the Woman Leader of the Year — Governance category. Keynote speaker Mithali Raj, Former Captain — Indian Women's Cricket Team, and jury member Abha Singh felicitated the award winner of the Woman Leader of the Year — Governance category at the Grand Felicitation Ceremony, which marked the culmination of the six-month-long ETPWLA 2023 programme, with 19 winners felicitated across 15 award categories.

Republic Day parade. These Indian-made guns have replaced the British 25-pounder guns. The 21-gun salute is carried out using specially designed cartridges or blank rounds to simulate firing sounds without actual shells.

DY Patil Medical College, situated in Navi Mumbai, has India's costliest medical degree on offer, a ToI report revealed on August 15. The MBBS degree offered by the college, at an eye-watering Rs 30.5 lakh fee a year, is the country's most expensive course of its kind, the report said. The total cost of the four-and-a-half-year degree from the college comes to more than Rs 1.35 crore.

G20 Summit in Bali, developed countries of the world wanted to know the intricacies of the Digital India success story. He said that digital innovation in India is not limited to the top cities of the country like Delhi, Mumbai or Chennai but has reached the youth even in Tier-2 and Tier-3 cities.

MUMBAI : Nirma Ltd has submitted the sole binding bid for Glenmark Pharmaceuticals Ltd’s 82% stake in listed life sciences subsidiary Glenmark Life Sciences Ltd, three people aware of the matter said. ChrysCapital and Sekhmet Pharmaventures Pvt. Ltd, the other potential bidders, chose to stay away due to differences over valuation.

MUMBAI : Top startup executives, who were laid off amid cost-cutting measures in the past year, are facing considerable challenges in securing new roles. Moreover, the generous pay packages they drew from their former employers are also hindering their re-employment prospects, founders, investors, and executive search consultants said. “If they’re looking at tech startups for CXO roles, probably none—unless they’re willing to take pay cuts and lower their designations," said Siddharth Gopi, the co-founder of TopHire, a staffing solutions firm primarily focussed on tech companies.

Mumbai: The Securities and Exchange Board of India (Sebi) on Monday upheld its 12 June interim order restraining Punit Goenka and his father, Subhash Chandra, from holding key positions in publicly traded companies till further notice. Sebi’s order barred them from holding key positions in an alleged funds diversion case.

MUMBAI : The rupee breached the crucial 83 mark on Monday, falling to a 10-month low of 83.07 before paring losses to close at 82.95 to the dollar, thanks to intervention by the central bank, which sold dollars through banks, according to currency market analysts. So far this year, the rupee has remained relatively stable trading at 82.74 since the beginning of calendar year to Monday’s closing. However, rising global interest rates amid RBI holding repo rate at which it lends to banks at 6.5% and creeping retail price inflation back home has soured sentiment for the rupee, forcing speculators to unwind their short dollar bets.

MUMBAI : The count of active retail investors participating in trades on India’s largest stock exchange, the NSE, hit a 10-month high of 9.7 million in July, driven by a widespread market rally, with mid and small-cap stocks outperforming the benchmark Nifty. A similar number of investors was last seen in September 2022, according to NSE data. In June, the figure stood at 8.9 million.

Solitaire Group, through one of its subsidiaries Honest Vastunirman, has acquired an over 20-acre land parcel in Mumbai’s Andheri suburb from Arogya Bharti Health Parks and Arogya Bharati Hospitals for nearly Rs 550 crore. The total consideration includes 140 residential tenements with carpet area of nearly 38,000 sq ft to be constructed by the developer and to be handed over to the seller within six years of the conveyance deed. As part of the total consideration, Honest Vastunirman has paid Rs 230 crore each to Arogya Bharati Hospitals and Arogya Bharti Health Parks.

Nawab Malik walked out on bail to a rousing reception by both factions of the Nationalist Congress Party, on Monday evening. Malik was granted two months' conditional bail on medical grounds and was set free from a private CritiCare Asia Hospital in Kurla where he was undergoing treatment since May 2022.NCP (Sharad Pawar) sources said that now he is likely to continue his medical treatment at home under the care of his family members. After the Supreme Court order granting bail on Friday, Malik's legal team started the relevant formalities which were completed late this evening and the ex-firebrand minister finally walked out to temporary freedom. Appearing weary but relieved, Malik was received by his family members, then hundreds of supporters from the rival NCP factions greeted him, raising slogans in his favour and he got into a vehicle.

₹245.3 crore in the first quarter ended June 30 of the fiscal year 2024. The company had reported net income at ₹234.6 crore in the same quarter a year ago. Brookfield India also announced the distribution of ₹164.16 crore to its unitholders.

New Delhi (India), August 12: In the midst of a relentless surge in electronic consumption, the looming threat of e-waste on both our environment and health has reached critical proportions. Stepping up to address this pressing concern, Celekt Mobiles, a leading mobile retail chain, proudly introduces �Mission E-waste: India� First Green Initiative by Celekt�, an unparalleled initiative aimed at combating electronic waste in India. Statistics reveal a staggering annual escalation of 20-25% in electronic waste (e-waste) generation across India.

By Siddhi Nayak

Expleo Solutions Limited on Monday announced to bolster its workforce by hiring 5,000 skilled tech professionals by 2025 in India. Expleo's newly appointed tech professionals will be stationed across the company's prominent development centres in key Indian cities such as Bengaluru, Chennai, Coimbatore, Pune, and Mumbai.

Maha Vikas Agadhi(MVA) member Uddhav Thackeray noted that ‘frequent meetings’ between the Pawar duo is tarnishing the image of Sharad Pawar. The unpredictable developments in the partisan politics scenario on Maharashtra has heightened the probability of trouble in the already tumultuous political scenario of the state, that began with Eknath Shinde's rebellion in 2022, leading to the downfall of the then incumbent Uddhav Thackeray government. News of Ajit Pawar faction NCP members meeting Sharad Pawar had been in limelight for a few weeks.

India can be a trusted supply chain partner of Taiwan, which leads in hi-tech manufacturing in the Asian region, remarked Edison Hsu, Director, Taipei World Trade Center Liaison Office in Mumbai at an interactive meeting organized for an in-bound Taiwan Trade Mission at WTC Mumbai. Notably, India ranks as Taiwan’s 14th largest export destination and 18th largest source of imports. Bilateral trade between the two countries totaled US$8.45 billion in 2022, representing an increase of 9.8% over the previous year.

Bharatiya Nyaya Sanhita (BNS), expected to replace the 163-year-old Indian Penal Code (IPC), is poised to incorporate emerging crimes into its framework. These include ATM thefts, question paper leaks, shoplifting, car theft, and stealing valuables from vehicles, classified as new offenses under a specific section. Those convicted of such crimes could face jail sentences ranging from one to 7 years, accompanied by fines.

Many bank holidays differ from region to region and from bank to bank. 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.