City Mumbai Financial News

11.07 / 10:21

IPO Provident CEO Covenant Explainer Indian ETtech Explainer: What are down rounds and will they become the norm for Indian startups?

PharmEasy is planning to raise around Rs 2,400 crore ($291.5 million) through a rights issue, at a 90% discount to its peak stock price, to repay a loan from Goldman Sachs. The Mumbai-based epharmacy, which also owns diagnostics firm Thyrocare, is expected to be valued at $500-600 million — down from the high of $5.6 billion two years ago.

11.07 / 10:19

COST Citi Provident Mobile Parke Mumbai Mumbai gets 1st electric mobile pet cremation van; here's all you need to know

A post shared by Tejasvee Abhishek Ghosalkar (@tejughosalkar) -It is an eco friendly crematorium van which will cater to the final rites of deceased pets. -Pet owners will be charged a nominal fee for the cremation of their pet, however, there will no charges for stray animals.

11.07 / 09:13

Cooper Aviat boost Forging A Naval Alliance: India and France to Boost Defence Capabilities

In preparation for Prime Minister Narendra Modi’s upcoming visit to France for the Bastille Day Parade, the Defence Procurement Board (DPB) has proposed the procurement of Rafale-Marine (M) combat fighter aircraft and additional Scorpene submarines for the Indian Navy. This move aims to bolster India’s maritime air combat and underwater combat capabilities, respectively. The proposal made by DPB includes a follow-on order for three Scorpene class submarines to be built at Mazagon Dock Limited in Mumbai and the procurement of 26 fighter jets from Dassault Aviation – Rafale (M).

11.07 / 09:13

Citi Ripple Remark Residential prices rise by 6% in 8 major cities driven by strong housing demand: Report

Driven by strong housing demand, the residential property market in India experienced an average YoY price appreciation of 6% during the April-June period of this year, as per data released by PropTiger.com.

11.07 / 08:35

dividend small-cap Dividend stock: Small-cap stock set to declare final dividend today. Details here

Dividend stock: Shares of Generic Engineering Construction and Projects Ltd have remained in base building mode after climbing to 52-week high of ₹69.95 apiece on BSE in January 2023. However, the company is going to give a good news for its shareholders today as its board of directors is going to consider and approve final dividend in the meeting scheduled on 11th July 2023 i.e.

11.07 / 07:55

Citi Gurugram witnessed highest increase in residential property prices among top 10 cities : Report

Property prices in Gurugram has increased the most among top 10 cities with a YoY increase of 12% in Q2 2023, surpassing Bengaluru (9%) and Noida (8%). The residential property market in India experienced an average year-on-year price appreciation of 6% during the April-June period of this year, as per data by PropTiger.com. “Housing prices have been climbing in major Indian cities in the post-COVID years.

11.07 / 05:19

Citi MET Digital CEO Platform Strategy Personal care startup Clensta raises Rs 75 crore in funding from Parineeti Chopra, others

Clensta International has raised Rs 75 crore in its pre-Series funding, led by TradeCred and the Royal Family of the UAE, a top company executive told ET. The executive added that the Export-Import Bank of India (EXIM Bank), Mumbai Angels, Keiretsu, LetsVenture and O2 VC Fund were among the investors who took part in the funding round. The funding includes a mix of debt and equity.

11.07 / 02:29

UPS Manufacturing Platform Enterprise TCS Sony Stocks to Watch: Vedanta, Zee Ent, TCS, SBI, L&T, and Tata Communications

Vedanta: Foxconn Technology Group has pulled out of its joint venture with Vedanta Ltd which had planned to invest $20 billion in India for setting up a semiconductor fabrication unit, display unit and semiconductor assembly and testing unit. The 60:40 partnership could have set up the country’s first semiconductor manufacturing unit under the $10 billion government-backed financial incentive scheme and was once estimated to be ahead of two other consortia in the fray for getting the sops.

11.07 / 01:37

MET Maharashtra: Devendra Fadnavis, Ajit Pawar meet CM Eknath Shinde at Varsha

Also read: New CM for Maharashtra amid NCP rift? Opposition leaders say Eknath Shinde will… Earlier on Monday, Union Minister of State for Social Justice, Ramdas Athawale, met State Minister Chhagan Bhujbal, who was among the dissident leaders of the Nationalist Congress Party that joined the Eknath Shinde-led government along with Ajit Pawar, following a split within the party, reported ANI. On Thursday, Athawale met Ajit Pawar at the latter's residence in Mumbai.

11.07 / 00:49

Target Invesco Invesco poll finds India debt best among EMs

MUMBAI : India is the top choice for debt investments among emerging markets (EMs) for sovereign wealth funds (SWFs) and central banks, a global survey by American fund manager Invesco Ltd has found. The survey, which polled 85 SWFs and 57 central banks managing a combined $21 trillion, found that India beat China in the EM debt sweepstakes. While the share of SWFs that found Chinese debt attractive fell from 71% in 2022 to 51% in 2023, those who found Indian debt attractive rose to 76% in 2023 from 66% in 2022.

11.07 / 00:45

Citi FIVE Delhi pips Bengaluru in ONDC retail orders in beta

ONDC) announced its beta launch in five cities including in Delhi, Delhi surpassed Bengaluru in terms of retail orders on July 9 with 8,304 orders over Bengaluru's 7,048 orders, and the network cumulatively got more than 35,000 retail orders in a day. Sources said this was the scenario despite the rains in the capital because of the weekend push by buyer applications like Magicpin and Paytm with themes like Super Sundays. ONDC had gone beta live on July 5 in Mumbai, Delhi NCR (including Noida, Gurgaon and Faridabad), Chennai, Hyderabad and Kolkata post scaling seller density in these cities.

11.07 / 00:45

UPS Citi Provident FIVE Platform Software Shopify Roposo, Shopify to help set up online stores

Roposo is collaborating with ecommerce player Shopify to help 10,000 entrepreneurs set up online stores over the next two years, and support them in product sourcing, order fulfilment and payments. Roposo offers livestream shopping along with entertainment on its platform. It is a business unit of Glance, a subsidiary of InMobi.

10.07 / 20:09

AXY Enterprise reserves NCLT reserves order on Zee-Sony merger scheme

Mumbai bench of the National Company Law Tribunal (NCLT) has reserved its order on the merger scheme between Zee Entertainment Enterprises (ZEE) and Culver Max Entertainment (Sony). The division bench of judicial member HV Subba Rao and technical member Madhu Sinha, while reserving the order on the scheme matter, allowed parties to file their written submissions.

10.07 / 14:05

COST Citi FIVE rights acquires MICL Real Estate acquires development rights of 10 housing societies in Mumbai’s Ghatkopar

MICL Real Estate has acquired development rights of a total 10 adjoining housing societies in Ghatkopar suburb of Mumbai. The company has acquired the rights to redevelop these housing societies through its subsidiary MICL Creators LLP wherein it holds 60% partnership interest. The project will be executed as a cluster redevelopment under regulation 33(9) of the Development Control Promotion and Regulation (DCPR), 2034.

10.07 / 11:25

UPS Provident Reuters Waters Yellow HANS Silver inflation data Gold, silver price on July 10: Precious metals edge lower on ahead of inflation data; check rate here

₹95 to ₹59,505 per 10 grams in the national capital on July 10 amid a fall in precious metal in the global markets. The yellow metal had settled at ₹59,600 per 10 grams in the previous trade. Silver, prices remained flat at ₹72,500 per kilogramme.

10.07 / 09:39

Strategy Executive Nomura India executive chairman Vikas Sharma steps down

Also read: Nomura India's head of investment banking steps down: Report Having completed his education at Manipal Institute of Technology and holding an MBA from the Asian Institute of Management in Manila, Vikas Sharma possesses more than 25 years of experience in the banking and consulting industry. During his tenure as an investment banker, he focused on the technology, media, and telecom (TMT) sector across Asia, reported Economic Times.

10.07 / 09:25

UPS Provident FIVE Public Provident Fund (PPF) vs Fixed Deposit (FD): Which is better when it comes to liquidity?

fixed deposit (FD) and Public Provident Fund (PPF) can be excellent options for saving and investing. Before making a choice, investors should take into account the distinctions between the two types of accounts because they can both offer tax advantages and the chance to earn interest on your investments. Mumbai-based tax and investment expert Balwant Jain said PPFs are best for those looking for long-term savings with tax benefits and a safe investment option.

10.07 / 08:27

Disney CEO DNA Sony DISH What next for Punit Goenka at Zee as SEBI ruling is upheld?

Securities Appellate Tribunal (SAT) order on Monday that dismissed their appeal over a ban by the Securities and Exchange Board of India (Sebi) on holding board positions in publicly listed companies. In a 12 June order, Sebi had barred the father-son duo from boardrooms of listed companies over allegations of fund diversion. SAT has said it saw no reason to intervene in the matter. In the absence of a stay, legal experts said that Goenka, managing director and chief executive of ZEE, will have to step down unless an order from the Supreme Court says otherwise.

10.07 / 08:01

Disney CEO DNA Sony DISH Punit Goenka, Subhash Chandra likely to move Supreme Court after no relief from SAT

10.07 / 08:01

UPS Provident Platform SENSEX BSE unveils new logo on its 149th foundation day

BSE, Asia’s oldest stock exchange, on Monday launched a new logo on its 149th foundation day. Formerly known as the Bombay Stock Exchange, the premier Indian bourse BSE and its benchmark index S&P BSE Sensex is the face of the Indian capital markets.

10.07 / 08:01

UPS Mobile Bank holidays in July 2023: Only one working Saturday left in July

Banks are also closed on Sundays and second, and fourth Saturday’s in the country. So, in the month of July as one of the major festival falls on the fifth Saturday, i.e., July 29 and banks will be closed on fourth Saturday that is on July 22.

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