City Mumbai Financial News

Lok Sabha elections. Ajit Pawar, who recently joined the BJP government as the deputy chief minister, is believed to be considering giving the Shirur Lok Sabha ticket to his son Parth. Parth Pawar had previously made an unsuccessful electoral debut in the 2019 Lok Sabha election, where he lost from the Maval constituency.

Maharashtra coalition government.  A recent political development in the state involves the induction of nine NCP leaders, including Sharad Pawar's nephew, into the BJP-Shiv Sena (Shinde camp)'s Alliance. Ajit Pawar has been sworn in as the Deputy Chief Minister of Maharashtra. 1) The fierce power tussle between rival NCP factions, led by Sharad Pawar and his nephew Ajit Pawar, continued to play out on Thursday.

Rain lashed several parts of Mumbai on Thursday as an orange alert was issued in the city. The India Meteorological Department (IMD) has issued an yellow alert for the financial capital today.

Vande Bharat Express is an indigenously manufactured, semi-high-speed, self-propelled train set. The train has state-of-the-art passenger amenities, providing passengers with a faster, more comfortable, and more convenient travel experience. It was first known as Train 18 and was manufactured at the Integral Coach Factory(ICF) in Chennai.

Reliance Industries: The Mumbai bench of the National Company Law Tribunal (NCLT) has approved the demerger of the financial services business of Reliance Industries, the Mukesh Ambani-led conglomerate said on Thursday. The company added that it, along with Reliance Strategic Investments Ltd, will take necessary steps including fixing the record date for allotment and listing of equity shares of Reliance Strategic Investments. Once demerged, Macquarie expects it to be the fifth-largest financial services company by net worth.

Mumbai: The Mumbai bench of the National Company Law Tribunal (NCLT) has approved the demerger of the financial services business of Reliance Industries, the Mukesh Ambani-led conglomerate said on Thursday. “We wish to inform you that the National Company Law Tribunal, Mumbai Bench, vide its order dated 28 June (uploaded on the website of NCLT on 5 July), has sanctioned the Scheme," it said in a regulatory filing.

Mumbai: The Securities and Exchange Board of India (Sebi), which set forth the ‘fit and proper’ person criteria for intermediaries, said in a statement before Bombay High Court on Thursday that it will not insist on compliance with notice until 2 August. A division bench led by Justices Gautam Patel and Neela Gokhale asked Sebi to file its affidavit in reply to the pleas filed by the proprietary concerns challenging schedule II of the Sebi (Intermediaries) Regulations, 2008.

MUMBAI : The Bombay High Court on Thursday granted an interim stay on a show-cause notice issued by IDBI Bank to Naresh Goyal, former promoter of debt-laden carrier Jet Airways. In accordance with Reserve Bank of India’s (RBI) master Circular on wilful defaulters, IDBI Bank’s review committee issued a notice accusing Goyal of being a wilful defaulter on 31 May.

MUMBAI : Biocon Biologics Ltd, the biosimilar unit of drugmaker Biocon Ltd, has achieved a third of its post-deal integration with Viatris’s global biosimilar portfolio ahead of time and expects to focus on integrating its US and European operations in the next phase, chief executive Shreehas Tambe said, adding the company also expects to raise additional capital this year. “Earlier, we had guided two years for the whole transition. A good part is the first wave has come way ahead of plan and is a good indicator of where we are headed," Tambe said.

The Reserve Bank of India (RBI) Thursday appointed P. Vasudevan as executive director.

Until two years ago, it was easy to spot future leaders in every batch of newcomers in a company. The alphas among them worked their way into cabins, usurping others’ at lethal speed. It often left the rest of the staff with the impression that these alpha employees were reclaiming roles and designations that had temporarily been given to others.

Reserve Bank of India (RBI) on Thursday said it has appointed P Vasudevan as Executive Director (ED) and he will look after three departments, including that of currency management. The appointment is with effect from July 3, RBI said in a statement.

Mumbai: Adani Green Energy Ltd (AGEL), on Tuesday, said the renewables energy firm is planning to raise up to Rs. 12,300 crore.  Following a board meeting, the company said it will raise the capital via qualified institutional placement (QIP) or any other eligible securities, according to an exchange filing.  The amount of funds to be raised will be subject to regulatory and statutory approvals, as well as the approval of AGEL's shareholders by way of postal ballot process, said the filing.  Following the announcement, shares of Adani Green rose as much as 2.6% to ₹972.9 apiece on an intraday basis before ending at ₹958 apiece.   Adani Green has a market capitalization of ₹1.52 trillion but, over the past year, the company’s stock has lost 50%, even though the broader market index Nifty 50 gained at least 22%.  On 23 May, Mint first reported that Adani Green Energy Ltd is in talks with global fund managers to raise ₹5,000-6,000 crore as India’s largest renewables company revives its capex plans four months after the Hindenburg setback.  The fund raising will include sale of new shares, as well as promoter shares worth 3-4% held by Adani family entities including group founder Gautam S.

The move can be linked with a potential surge in the demand for homestay properties from certain cities such as Ahmedabad, Dharamshala, and other metros across the country due to ICC world cup 2023. This year India will be hosting the ICC world cup from October 5 to November 19 across 10 venues in Hyderabad, Ahmedabad, Dharamsala, Delhi, Chennai, Lucknow, Pune, Bengaluru, Mumbai, and Kolkata. “Cricket fans are more willing than ever to explore homestays as an accommodation option,” said Parikshit Choudhury, Chief Business Officer of Alternate Accommodation and Customer Contact Group, MakeMyTrip. Furthermore, the company has also developed a new feature where users can track the distance of the accommodation from the cricket stadium in the city.

The State Bank of India has announced a slew of management changes amid its ongoing bid to fortifying its dominance. The development comes mere days after the mega merger between HDFC and HDFC Bank created a massive new private sector rival for SBI.

tomato prices remained highest at Rs 152 per kg in Kolkata, followed by Rs 120 per kg in Delhi, Rs 117 per kg in Chennai and Rs 108 per kg in Mumbai, according to the data maintained by the Consumer Affairs Ministry. The all-India average retail tomato price was ruling at Rs 95.58 per kg on Thursday.

NCP) Working Committee on Thursday approved decision to expel Praful Patel, Sunil Tatkare and nine others who joined hands with NDA. Amid Maharashtra political crisis, a meeting of NCP leaders was called at the residence of party president Sharad Pawar in Delhi. Earlier today, 13 NCP leaders, including PC Chacko, Jitendra Awhad, Fauzia Khan and Vandana Chavan arrived at the residence of party chief Sharad Pawar in Delhi to attend the National Executive meeting.

Mandira Bedi have lambasted the Mumbai Airport for being disorganised and chaotic. Taking to Instagram, the ‘Shanti’ actress, described her experience of landing at the Mumbai airport (Terminal 2), as a “nightmare”. She pointed out how careless the airport authorities were when it came to informing the waiting passengers about the timings of flights.

University Grants Commission (UGC) to specify steps it has taken and proposed to take, to provide non-discriminatory, enabling environment for the students belonging to Scheduled Castes and Schedule Tribes in institutions of higher learning, terming it a «very serious issue». A bench of Justices AS Bopanna and MM Sundresh asked the UGC to furnish the details of steps taken on a plea by the mothers of Rohith Vemula and Payal Tadvi, who had allegedly died by suicide following alleged caste-based discrimination in their educational institutions. While Vemula, a dalit Ph.D scholar at Hyderabad Central University, had ended his life on January 17, 2016, Tadvi, a tribal student at TN Topiwala National Medical College, Mumbai, took the extreme step on May 22, 2019 due to alleged caste-based discrimination by three doctors of her institution.

Mumbai, an orange alert has been issued in the city today and a yellow alert tomorrow i.e. on 7 July.

Also read: Canada: Khalistani group Sikhs for Justice threatens to 'Besiege' Indian missions on Independence Day Reports initially claimed that Pannun, who has been declared a terrorist by India, died in a road accident in the US while driving on Highway-101 in America. Twitter users shared news of his death, with the convenor of Mumbai’s BJP IT Cell @PallaviCT posting ‘unconfirmed reports’ on Pannun’s demise in a car accident.