City Mumbai Financial News

Santosh Sarangi, IAS, Director General, Directorate General of Foreign Trade, New Delhi, Government of India, today said that currently India's export is USD 450 billion, and to reach USD one trillion mark, the country needs to grow at year-on-year rate of 12%. «Similarly, in service sector we need to grow at 16.6 percent on an average every year,» Sarangi said at the World Trade Day 2023 programme in Bhubaneswar organised jointly by World Trade Centers in four cities, viz. Mumbai, Bhubaneswar, Jaipur and Goa.

thief, who had a long spree of robberies including 1,200 burglaries across 14 states over 25. As per ToI report, Police finally got the custody of Nadeem Qureshi (45) in connection with a burglary at Sourav Abasan in Salt Lake that occurred two years ago. He was known for his extravagant lifestyle, owning a range of sedans and dressing up in corporate formals.

Bidhannagar Police on Monday got custody of a high-flying thief, Nadeem Qureshi in connection with a two-year-old burglary at Sourav Abasan in Salt Lake, TOI reported. Qureshi, 45, has committed as many as 1,200 odd burglaries across 14 states over 25 years. The burglar king owns properties worth crores in Mumbai and Pune, the police said.

₹5 lakh to the families of the deceased. Meanwhile, on Saturday, the Maharashtra CM also apprised Prime Minister Narendra Modi of the prevailing situation in his state in the floods and landslides caused by incessant rainfall.

Bollywood lyricist Javed Akhtar has been called upon to appear before a magistrate court in Mumbai on August 5, as reported by India Today. This summons comes after actor Kangana Ranaut filed a complaint against him, accusing him of intimidation and insult. The legal saga between the two celebrities began when Akhtar retaliated with a defamation complaint following an interview with Ranaut in 2021.

Air India flight bound for Mumbai from Bengaluru faced an unexpected 10-hour delay at Kempegowda International Airport (KIA). Frustrated travelers were left waiting near the departure gates with no clear information about the cause of the delay, leading to growing unease.

₹5,000 under Section 234F. However, for individuals with an income of less than ₹5 lakh, the penalty will be a reduced amount of ₹1,000," said Abhishek Soni Tax and investment expert Balwant Jain said, "If an earning individual misses filing ITR within the given due date, then he or she would be able to do so by paying the late fee.

₹200 crore on its release in 2019 and moderate success at around ₹70 crore with Sushant Singh Rajput-starrer Kedarnath. At UTV, Screwvala was known for backing smaller films and offbeat narratives including sleeper hits such as Khosla Ka Ghosla, Life…in a Metro, Mumbai Meri Jaan, A Wednesday!, Oye Lucky! Lucky Oye! and later The Lunchbox, long before Bollywood discovered such high-end, urban themes for multiplex audiences.

DLF reported a 12% year-on-year (YoY) jump in its June quarter net profit, Jefferies gave a 'Buy' while CLSA retained an 'Outperform' rating to the stock. Among domestic brokerages, Nuvama has a 'Buy' call while ICICI Securities recommended an 'Add'. Motilal Oswal took a 'Neutral' stance on the Gurgaon-based realtor.

HSBC Holdings Plc announced to about 100 wealthy Indians it is returning to private banking in India, where it exited about eight years ago. Over dinner served by the chef of Odette, a three-Michelin-star restaurant in Singapore, the bank’s wealthy clients who flew in from Hong Kong and Dubai, mingled with HSBC’s local customers. HSBC’s efforts to convince prospective Indian clients that its wealth management services in the country will not make a retreat again is a linchpin for its ambitious plans there.

DLF to outperform while also maintaining an outperform rating on Tata Steel. Morgan Stanley retained its overweight rating on PNB Housing and Nomura has a buy rating on ITC post the demerger. We have collated a list of recommendations from top brokerage firms from ETNow and other sources:CLSA on DLF: Outperform| Target Rs 547CLSA downgraded DLF to outperform with a target of Rs 547.

single-screen theatres «hangs by a thread», megastar Amitabh Bachchan says that many projectionists have lost their livelihood and it is important to recognise their contribution to the history of Indian cinema. In a recorded video message shared with Mumbai-based Film Heritage Foundation and its founder Shivendra Singh Dungarpur, Bachchan appreciated the 'Lifetime Achievement Award for Cinema Projection' that has been instituted by the FHF to celebrate the «unsung heroes» of the film industry. Bachchan, in his over a minute-long video, said, «The world of a projector, a beam of light in a dark room theatre, and flicker of images on the big screen. That was, what cinema was for me». «As the fate of single-screen cinemas, unfortunately, hangs by a thread, many of these projectionists have lost their livelihood. It is important to remember and recognise their immense contribution to the history of Indian cinema,» he said. The veteran cine actor said he was pleased to learn that Film Heritage Foundation had instituted a 'Lifetime Achievement Award for Cinema Projection' to celebrate the unsung heroes, «who brought the magic of cinema to the silver screen». Dungarpur on Sunday said the foundation will honour three projectionists with this award at a special event, to be held on Wednesday at Mumbai's heritage Regal Cinema, a single-screen theatre built in 1933. The awards will be an annual affair, he said.

tomato stalls to close shop in some areas due to the lack of customers. The prices of tomatoes, among several other essential vegetables have been steadily spiraling since June, due to the overall crop shortage and largescale spoilage due to uncharacteristic rains. In June, the prices for tomatoes nearly doubled from its regular rate of Rs 30 per kg to Rs 50-60 as on June 13th and eventually crossing Rs 100 by the end of June.

Delhi's Khan Market — the country's most expensive retail real estate — have breached the pre-pandemic levels for the first time to hit a record high of Rs 1,500 per square feet per month. This is almost double than the costliest retail location of Mumbai and about four times that of Bengaluru, industry executives said.

MUMBAI : ITC Ltd, India’s largest cigarette maker, said its board approved a proposal to separate its hotels business to unlock value and foster focused growth, a move awaited by shareholders for long. Under the new scheme, shareholders of the cigarette-to-hotel major will own 60% of the demerged entity directly and the rest through their shareholding in ITC. The proposed structure disappointed investors, sending the share price plunging 3.87% at the end of trading on Monday.

Mumbai: Struggling edtech platform Byju’s and its lenders have reached a consensus on restructuring its $1.2 billion term loan B. According to a joint statement by Byju’s and its lenders, the proposed amendment, that will be effective before 3 August, seeks to address loan acceleration, end all litigation, and prevent any further enforcement actions. A person in the know, seeking anonymity, said Byju’s is willing to revise the coupon, or interest payment, upwards in line with the lenders’ demands.

Factors contributing to this trend include a scarcity of newly constructed properties ready for immediate occupancy, a dearth of new developments, and escalating price hikes in major markets. “Recently, there has been a notable surge in the demand for resale residential properties across cities. This scarcity is due to delays in construction projects and a lack of new developments.

Reliance Industries Limited (RIL) today announced entering into an agreement to invest alongside Brookfield Infrastructure and Digital Realty in their Indian SPVs set up for developing data centers in India. RIL will hold 33.33% stake in each of the Indian SPVs and become an equal partner. Digital Realty Trust, Inc.

MUMBAI : Private sector lender IDBI Bank was able to restrict its net non-performing asset ratio to less than 0.5% in the three months through June, aided by a strategy to aggressively set aside provisions. The bank’s net NPAs stood at 0.44% of net advances as on 30 June, down 48 basis points (bps) from the previous quarter. Its gross bad loans were at 5.05% in the June quarter, as against 6.38% in the March quarter.

₹17,000 to ₹18,000 now from over ₹20,000 at the start of the year," Pathak said on Monday. This, he said, could lead to “low single-digit growth" in smartphone shipments in the current quarter. However, consumer demand remains tepid.

DLF has acquired a controlling 51% stake in a special purpose vehicle (SPV) responsible for a development project spanning around 3.5 million square feet in Mumbai’s Andheri area for approximately Rs 400 crore. “This is part of a bigger slum rehab scheme, where we anticipate that once the entire process is complete, the total saleable area should be in the range of 3 to 3.5 million square feet,” DLF chief executive Ashok Kumar Tyagi said during the real estate developer first quarter earnings call on Monday.