City Mumbai Financial News

Mumbai: Payment solutions provider Hitachi Payment Services on Wednesday said it has entered into an agreement with Writer Corp, a multi-business enterprise, to acquire its cash management business. Writer Safeguard, the cash management business of Writer Corp, has been providing services including ATM cash replenishment and retail cash pick-up services to corporate clients in India since 2001.

BMC) has announced that online application for setting up Ganpati Pandals on city roads can be done online starting August 1. The 11-day festival will commence on September 19 this year. As per a ToI report, to streamline the process and reduce hassle for the mandals, a one-window system will be implemented, allowing them to apply for pandal permission without separately approaching the police, traffic police, and fire brigade.

Fidelity International opens its global capability centre in Bengaluru and will hire around 800 employees over the next two years. The new office will complement its current Gurugram and Mumbai offices which already host around 4,500 employees. The investment and retirement savings firm will tap into the local talent pool available in city and leverage their expertise to seize international market opportunities.

Directorate General of Civil Aviation (DGCA) has suspended the licenses of an IndiGo captain for three months and a co-pilot for one month following an incident involving a tail strike during landing at the Ahmedabad airport, a senior official told IANS. The suspension comes as a stern response to the aviation mishap that occurred on June 15, where flight 6E6595 en route from Bengaluru to Ahmedabad experienced a tail strike upon landing.

Visa said it has signed a co-brand agreement with Indian billionaire Gautam Adani's conglomerate. The co-branded cards are set to attract as many as 40 crore travellers and users via the benefits of retail, airports, and online travel services that it aims to bring to the table. «This partnership will give the payments giant access to 400 million customers through Adani’s airports and online travel services,» said Visa's CEO Ryan McInerney in a conference call with analysts.Adani group at present runs seven airports in India.

Suraj Estate Developers has filed fresh preliminary papers with capital markets regulator Sebi to raise Rs 400 crore through an initial public offering (IPO). Before this, the Mumbai-based realty film filed its draft IPO papers in March 2022.

Gujarat High Court has allowed the discharge plea of a former police official accused in the 2003 encounter of Sadiq Jamal, who the cops had claimed to be a Lashkar-e-Taiba (LeT) operative. With the acquittal of retired deputy superintendent of police Irshadali Anwarali Saiyed, all seven of the eight accused in the case stand exonerated. One accused died during the pendency of his discharge plea.

Public sector undertaking (PSU) banks have been on investors’ radar over the past 6-8 months, given the attractive valuations they trade at and a revival in their earnings. And in the past few days, two PSU banks – Union Bank of India and Canara Bank – have reported strong operational performance in the June 2023 quarter. Investors on Dalal Street are optimistic that the growth momentum of these PSU banks will continue during the current financial year.

Maharashtra rains: The India Meteorological Department issues 'red' alert in Raigad, Pune, Satara and Ratnagiri districts for 26th July. 'Orange' alert issued in Mumbai, Palghar and Thane.

Ahead of the Velankanni festival, a special train will run between Bandra Terminus and Velankanni in Mumbai on 27 August. Train No.

L&T: Larsen & Toubro reported a net consolidated profit of ₹2,493 crore which was 46% more than ₹1,702 crore reported during the corresponding quarter in the previous fiscal year. The revenue from operations of the company jumped 34% from ₹35,853 crore in Q1FY23 to ₹47,882 crore during the Q1FY24 period.

₹8.9 crore in the first quarter of the year ended June 30, versus the corresponding quarter last year, when the figure stood at ₹29.82 crore. In terms of consolidated revenue, it saw a marginal 2% increase to ₹651.82 crore in the first quarter of FY24 from ₹637 crore in when compared with the same period last year.

NEW DELHI : Tata Motors Ltd swung to a consolidated net profit in the June quarter from a year-earlier loss lifted by robust sales of luxury vehicles by its British unit, Jaguar Land Rover, and an improved operating performance of its commercial vehicle business in India. The Mumbai-based automaker also announced that it will consolidate its capital base , converting all of its 508.5 million differential voting rights (DVR) shares to ordinary shares at a rate of seven ordinary shares for every 10 DVR shares held, resulting in a net reduction of 4.2% in its equity base.

₹155.65 crore. According to the agreement, the Indian airline has the right to continue using the AirAsia brand name for one year following the transaction.“We expect the branding transition to complete in 1-2 months. The regulator has been informed of the same," a third official said.

Mumbai: Securities and Exchange Board of India (Sebi) on Tuesday filed an application to modify a 10 July order of the Securities Appellate Tribunal (SAT) against Zee Entertainment Enterprises chief executive Punit Goenka. This development follows the tribunal’s prior directive to appoint another whole-time member of Sebi to issue a final order on the matter. On 10 July, SAT dismissed a plea by Goenka and his father Subhash Chandra, chairman of the Essel Group, challenging Sebi’s 12 June order, barring them from holding positions on the board of any listed company.

Maharashtra opposition is up in arms over a move by the government to fill 3,000 posts of police personnel for Mumbai from the Maharashtra State Security Corporation for a period of 11 months. The Maharashtra opposition has likened the move to Russia using the private militia 'Wagner' and said that the consequences could be similar to the rebellion faced recenlty by the Russian President Vladimir Putin.

Santosh Sahu was just 25 years old when he was told that he had cancer. The news stunned him. Sahu, a resident of a small town in Odisha, was initially perplexed as he did not use either tobacco or alcohol. He was also fussy about his diet to the extent that he even avoided tea or coffee. Doctors then confirmed that he had blood cancer. It is caused by mutations in the DNA within one’s blood cells, which start behaving abnormally. The changes are not genetic faults that pass down to children.

₹400 crore for a 51% stake in the project, spanning 3-3.5 million sq ft (msf) saleable area. “Re-entry into the Mumbai market, which is a key region for real estate sales, is positive. Achieving incremental growth from a large base could have been difficult by focusing only on the National Capital Region (NCR)," Parikshit Kandpal, vice president, institutional research, HDFC Securities, said.

Ajmera Realty & Infra India Ltd (ARIIL) has reported 82% year-on-year growth in net profit of Rs 21 crore for the quarter ended June. Revenue for the quarter rose 113% from a year ago to Rs 118 crore. The listed developer sold over 1.35 lakh sq ft space valued at Rs 225 crore during the quarter while recording collections worth Rs 111 crore.

11th Season of its infamous Dosti Friendship Month. As part of its ongoing commitment to fostering strong customer relationships, Dosti Realty returns with an array of exclusive prices, discounts, and enticing offers, serving as a testament to its enduring friendship with customers. This annual extravaganza will run throughout the month of August.Projects that are covered by offers during the 11th Friendship Month include Dosti Eastern Bay-Wadala, Dosti Mezzo 22 - Sion, Dosti Eden- Thane (W), Dosti Nest and Dosti Heron in Dosti West County, Balkum-Thane (W), Dosti Planet North - Shil Thane and Dosti Greenscapes - Pune, offering a once-in-a-lifetime opportunity to make your home buying dreams come true.  In Mumbai city, across the two luxury projects Dosti Eastern Bay – Wadala and Dosti Mezzo 22 at Sion the offers include 0% stamp duty and registration charges with a 30:30:30:10 Payment Plan*, coupled with the advantage of no pre-EMI for 12 months scheme for CLP Plan*.

Tata Motors have announced the appointment of Rajesh Kannan as President and Chief Digital and Information Officer. The appointment will be effective from 1 August, 2023, the firm said in a stock regulatory filing on 25 July.