City Mumbai Financial News

Subscribe to enjoy similar stories. India’s insurance industry is growing rapidly, supported by robust economic growth, an expanding middle class, innovation and strong regulatory support. According to data from the Swiss Re Institute, total insurance premium collections are projected to grow by 7.1% over the next five years (2024–2028).

Lilavati Hospital, one of the country’s most reputed healthcare institutions, is at the centre of an explosive controversy. The Lilavati Kirtilal Mehta Medical Trust (LKMMT), which runs the hospital, has accused its former trustees of siphoning off over Rs 1,500 crore through fraudulent transactions, kickbacks, and illegal offshore deals. But it doesn’t end there. The trust has also alleged that black magic rituals were conducted within the hospital premises, with human remains discovered beneath the floor of the current trustees' office. The accusations, bizarre yet serious, have resulted in multiple FIRs and a growing legal battle.

Anand Mahindra reflected on his past interaction with Mark Carney, Canada’s Prime Minister-designate, recalling a meeting at the Mahindra headquarters in Mumbai in 2017. At the time, Carney was serving as the Governor of the Bank of England and was part of a delegation led by the then Chancellor of the Exchequer. Mahindra described Carney as an intellectual with a sharp wit, someone who balances intelligence with a straightforward and pragmatic approach. As Carney prepares to take on the leadership of Canada, Mahindra acknowledged the immense challenges ahead, particularly in today’s complex global landscape. However, he expressed confidence in Carney’s ability to navigate the responsibilities of the role effectively.

Subscribe to enjoy similar stories. MUMBAI : If the latest data is any indication, retail investors are experiencing an anxiety attack. While a full-blown panic is contained, for now, the market's shaky ground is causing jitters.

Subscribe to enjoy similar stories. New Delhi/Mumbai: The back-to-back marketing agreements signed by Starlink with Bharti Airtel and Reliance Jio has finally paved the way for launch of the Elon-Musk-owned satellite internet provider’s services after an initial attempt four years ago.

Subscribe to enjoy similar stories. Blackstone Group Inc of the US will build out its credit and infrastructure verticals in India to complement its private equity (PE) and real estate businesses, senior executives at the firm said, adding that the firm is expecting to double its India assets under management (AUM) over the next three years. “We have a global (credit) business of over $450 billion in assets that we hope to bring into India," Blackstone’s chairman, chief execuitve officer and co-founder Stephen Schwarzman said in a media interaction in Mumbai.

Last year saw a boom in India's concert economy with big names such as Ed Sheeran, Coldplay, Dua Lipa Diljit Dosanjh and Maroon 5 drawing big crowds. The success of large-scale concerts highlighted India's untapped potential as a global entertainment destination. According to BookMyShow's year-end report, 30,687 live events took place in 319 cities, marking an 18% increase in consumption compared to the previous year. Zomato Live, the ticketing arm of the food delivery company, has noted that India is becoming a hotspot for international music tours due to its growing economy and enthusiastic fanbase. After Coldplay's successful tour in India, Prime Minister Narendra Modi said that India has a massive scope for live concerts. «You must have seen fabulous pictures of Coldplay concert organised in Mumbai and Ahmedabad. It shows that India has a massive scope for live concerts. Big artists from around the world are attracted towards India… I expect the state and the private sector to focus on needed infrastructure and skills,» he said. India's emerging concert economy boosts tourism and hospitality business while also generating a large number of jobs. The

Subscribe to enjoy similar stories. MUMBAI : Automobile and ancillary sectors remain caught in the FII-selling storm that has been ravaging Indian stock markets for over six months. Foreign Institutional Investors (FIIs) continued selling automobile and auto component stocks for the seventh month in February by offloading shares worth $454 million.

DY Patil Stadium will host ‘Legends Faceoff’, featuring former stars from Real Madrid and Barcelona. Among the names confirmed for the match are Luís Figo, Carles Puyol, Fernando Morientes, and Ricardo Quaresma. Figo, who won the Ballon d’Or in 2000, played for both clubs, securing multiple La Liga titles and the 2002 Champions League with Real Madrid. Puyol, a defensive stalwart, led Barcelona to six La Liga and three Champions League trophies, in addition to winning the 2010 World Cup and Euro 2008 with Spain. Morientes played a key role in Real Madrid’s success, winning three Champions League titles and representing Spain in two World Cups. Quaresma, a former Barcelona winger, was part of Portugal’s Euro 2016-winning squad and enjoyed domestic success in Portugal and Turkey. The players expressed their excitement ahead of the match. Figo said, “India, I know you love football, and I can’t wait to bring the magic to Mumbai. Let’s make this an unforgettable night!” Puyol shared similar enthusiasm, stating, “India, I’ve seen your passion for football from afar—now it’s time to witness it up close.” Morientes and Quaresma also looked forward to the event, with Morientes keen to “experience India’s football madness” and Quaresma eager to “finally experience” the energy of Indian fans.

Air India has expanded its Premium Economy Class offering, by doubling of premium seat sales over the past three years. Now, the airline has introduced Premium Economy fares starting at just Rs 599 more than Standard Economy fares on domestic flights for a limited time, offering an affordable upgrade with pricing that varies by route and demand.

Subscribe to enjoy similar stories. In the last year, I noticed a pattern in the stories that people were telling about their stock picks—and in bull markets, everyone has a story. Most stories were about companies supplying either goods or services to a government or a quasi-government entity, maybe for highways, railways, power, defence or something of that kind.

This data, sourced from a survey by myBiz, the SaaS-based corporate booking platform of MakeMyTrip, sheds light on gender representation in corporate travel. The analysis, which covers flight bookings made by nearly 3,000 corporate clients with more than 200 employees and an annual travel expenditure exceeding ₹1 crore, reveals valuable insights into corporate travel trends across sectors and cities.

Guns N' Roses will return to India after 13 years for a live concert in Mumbai. The American rock band, featuring Axl Rose (vocals, piano), Duff McKagan (bass), and Slash (lead guitar), will perform at Mahalaxmi Race Course on May 17, as part of their Asia tour. The announcement was made through their social media, where they wrote, “We’re coming to India! This is going to be special.”

Adani Enterprises are set to be in focus on Wednesday after the company’s real estate arm, Adani Properties Pvt Ltd (APPL), emerged as the highest bidder for the redevelopment of Motilal Nagar, one of Mumbai’s largest housing projects. The total redevelopment cost is estimated at Rs 36,000 crore. Sources told PTI that APPL surpassed its nearest competitor, L&T, by offering more built-up area than the latter. The Motilal Nagar project spans 143 acres in the western suburb of Goregaon (W) and includes the redevelopment of three separate parcels—Motilal Nagar I, II, and III.

Subscribe to enjoy similar stories. Mumbai: Shares of IndusInd Bank plunged 27.2% on the bourses on Tuesday, a day after the private sector lender flagged discrepancies in its derivatives portfolio, sending panicked investors scrambling to the sell counters.

Subscribe to enjoy similar stories. Mumbai: Ashok Hinduja, chairman of IndusInd International Holdings Ltd (IIHL), the promoter of IndusInd Bank, expressed complete confidence in the ability of the bank’s managing director (MD) and chief executive officer Sumant Kathpalia to steer the bank through its challenges. Hinduja’s backing came on a day when IndusInd Bank’s stock dropped 27.17% to its 52-week low.

Subscribe to enjoy similar stories. For 38-year-old Delhi based Amit Mehra, stress had become an unshakable companion. As a senior executive at a multinational firm, his days were a blur of deadlines, meetings, and endless notifications.

Kajol Devgan has purchased commercial retail space spread over 4,365 sq ft on the ground floor of a residential tower in Mumbai’s western suburb of Goregaon for over Rs 28.78 crore. The deal registered on March 6 values the commercial space at Rs 65,940 per sq ft. The purchase reflects a trend among high-net-worth individuals and celebrities investing in commercial real estate for stable rental yields and long-term capital appreciation. The transaction also includes stamp duty charges of approximately Rs 1.72 crore, and the agreement grants Kajol Devgan exclusive access to four designated car parking spaces, showed the documents accessed through IndexTap.com.

Uber on Tuesday said it has tied up with Refex Green Mobility to deploy 1,000 electric vehicles across key cities by 2026, furthering its efforts to boost electric vehicles on its platform. The collaboration aligns with Uber's global objective of providing 100 per cent emission-free rides by 2040, the company said in a statement. The deployment will see electric four-wheelers onboarded onto the Uber platform across Chennai, Hyderabad, Bengaluru, and Mumbai, it added. «Uber is committed to accelerating the shift to zero-emission mobility in India, and this partnership with Refex eVeelz is a significant step in that direction,» said Aditya Kapoor, Head, Supply and Electrification, Uber India and South Asia.

Bibhas Nayak, a 29-year-old HR manager at St Stephen’s Hospital in New Delhi, died while defending two women from sexual assault in Karnataka’s Koppal district. The incident took place on 6 March near Sanapur village, close to the popular tourist site of Hampi. Bibhas was overpowered by three attackers and thrown into a canal. His body was recovered on Saturday, and Karnataka police have since arrested the suspects. His grieving family has called for a thorough and fair investigation.

Known for timeless hits like 'Sweet Child O' Mine', 'November Rain', and 'Welcome to the Jungle', Guns N’ Roses is expected to deliver an electrifying show that promises to be an unforgettable experience for rock music lovers in India. The Guns N' Roses 2025 India Tour, presented by Kotak Mahindra Bank and produced by BookMyShow Live in association with Live Nation, is set to be one of the biggest musical events of the year. Fans eager to secure their spots can take advantage of an exclusive pre-sale for Kotak Mahindra Bank customers, starting on March 17, 2025, at 12 PM IST on BookMyShow. The general ticket sale will go live for all fans on March 19, 2025, at 4 PM IST. With anticipation running high, the band’s return to India is expected to draw a massive crowd, making the Mumbai concert a must-attend event for rock enthusiasts and loyal fans alike.