City Mumbai Financial News

04.07 / 14:23

UPS Target Manufacturing CEO Strategy private credit Financial JM Financial debuts private credit fund to raise ₹600 cr in first close

₹600 crore (around $73 million). The fund is managed by JM Financial AMC as Investment Manager. Mumbai-based JM Financial Group will invest debt capital in local companies via a new fund, adding another asset class to its portfolio that already includes private equity, distressed assets, non-banking finance and mutual funds.

04.07 / 13:41

COST UPS Citi Adani Electricity's technical and commercial losses shrink to 5.93 pc in FY23

Adani Electricity Mumbai on Tuesday said that its aggregate technical and commercial losses have reduced to 5.93 per cent in FY23 as against 6.55 per cent recorded a year ago. The Adani Group entity said it upped monitoring on the power theft side, which resulted the key ratio coming down to what it claimed as one of the lowest in the industry across the country.

04.07 / 12:46

Provident Indus Anil Ambani & Wife Questioned By ED; What’s The Case Against The Couple? | Details

On Tuesday, 4 July, Tina Ambani, the wife of indus... moreOn Tuesday, 4 July, Tina Ambani, the wife of industrialist Anil Ambani appeared before the Enforcement Directorate in Mumbai for questioning and to provide her statement regarding an investigation related to the alleged violation of foreign exchange regulations.

04.07 / 12:45

COST Lowe's Reuters CEO India's June palm oil imports jump 49% from May over lowest prices in 28 months; check details

Also Read: Decoding the dilemma behind escalating cooking oil imports But lower imports in May and the price correction encouraged Indian buyers to increase purchases in June, Sandeep Bajoria, CEO of Sunvin Group, a vegetable oil brokerage and consultancy firm told Reuters. Price-sensitive Asian buyers typically rely on palm oil because of the low cost and quick shipping times.

04.07 / 10:19

Aviat Airlines GoFirst cancellations continue, flights now scrapped till July 10 due to ‘operational reasons’

GoFirst airline have been grounded since 3 May and flights had previously been cancelled till 28 June.dgca The aviation regulator Directorate General of Civil Aviation (DGCA) will conduct an special audit of crisis-hit Go First's facilities in Delhi and Mumbai from July 4 to 6, reported PTI. The regulator will conduct the audit before approving the revival plan for the resumption of flights, the report added.

04.07 / 10:11

Citi CEO Strategy Parke Matrix park Airtel Payments Bank, Park+ partner for FASTag-based smart parking solution at Varanasi airport

Airtel Payments Bank, a FASTag issuer, has collaborated with Park+ to enable FASTag-based smart parking solution at Varanasi's Lal Bahadur Shastri Airport. The FASTag-based smart parking solution enables automatic cashless payments at airport parking, making vehicle movement in the parking zone frictionless and time efficient.

04.07 / 09:09

UPS Citi MET Extreme Yellow Updates Mumbai Monsoon rains: Yellow alert issued in Mumbai for next 3 days. Check latest updates here

The India Meteorological Department's (IMD) regional centre for Mumbai has issued a 'yellow alert' for next three days, predicting heavy to very heavy rainfall at isolated places. The Regional Meteorological Centre has issued a 'yellow alert' for Mumbai from Wednesday to Friday i.e. from 5-7 July.

04.07 / 09:09

UPS Lost Maharashtra political crisis: Delay in the inauguration of new NCP's office of Ajit Pawar as keys get lost

Ajit Pawar, could not be opened due to the missing bunch of keys. In the morning, when the Pawar's loyalists went to the 'Rashtrawadi Bhavan', the new office of NCP, they were left red-faced as they found themselves locked out and the keys missing. According to NDTV news channel, the party leaders were seen sitting outside on the lawn of the bungalow.

04.07 / 08:39

Highways 10 killed, more than 20 injured as truck rams into highway hotel in Dhule, Maharashtra

Maharashtra's Dhule district on Tuesday, police said. The accident took place at around 10.45 am near Palasner village on Mumbai-Agra highway in Dhule, located more than 300 km from the state capital, a police official said.

04.07 / 08:15

Citi Provident Digital PhonePe's Pincode goes live in ten cities

Pincode, a shopping app developed on the government-backed Open Network for Digital Commerce (ONDC), on Tuesday announced that it has gone live in 10 cities across India. The cities include Mumbai, Delhi, Nodia, Gurugram, Chennai, Hyderabad, Ahmedabad, Pune, and Kolkata.

04.07 / 07:47

FIVE Cooper Parke Matrix Mumbai Actor Ajay Devgn purchases 5 office units in Mumbai's Andheri West for ₹45.09 crore; Check details here

₹45.09 crore. The purchase details were revealed through documents obtained by CRE Matrix, a data analytics firm. Located within Signature Building, Oshiwara, along Veera Desai Road, these office units span a combined area of 13,293 square feet.

04.07 / 07:43

Strategy LinkedIn AI-generated images of Zomato delivery executives dancing in the rain go viral

The livelihood of delivery executives depends on the whims of the customer. On good days they chance upon generous clients who will leave a tip. However, one bad rating, or late delivery can lead to no pay. Be it sunshine or rain, delivery partners have to be on their toes, be on the go and ensure clients receive piping-hot food on time. Timely delivery is an instrumental part of the customer experience. However, it often takes a backseat when it comes to acknowledgement. Recently, AI-generated images of Zomato employees, having the time of their lives in the pouring rain have gone viral on the Internet.

04.07 / 07:27

CEO CBI fraud case ICICI loan fraud case: Chanda Kochhar paid tax for family trust after CBI's probe

₹1.53 crore on income of ₹3.42 crore received by the family-held trusts that owned a south Mumbai flat, according to the CBI. According to the English daily Economic Times, the probe agency told the special CBI court that payment was made after a preliminary inquiry (PE) was kicked off against Kochhar and her husband Deepak. The south Mumbai flat and a loan of ₹64 crore are the two instances of alleged "bribery" claimed by CBI in its probe that Deepak Kochhar received in 2016.

04.07 / 07:27

UPS Citi Waves Action Marvell Sony Spider-Man’s Pavitr Prabhakar, Based on Peter Parker, Drives India Wild

On a recent Sunday evening, fans crowded into line outside a multiplex in India’s capital city of New Delhi. After the lights dimmed inside, they erupted in cheers, with some whistling and dancing in the aisle when their favorite character appeared on screen. India is the most movie-crazy country on the planet, and led the world in the number of tickets sold in 2022, according to Statista.

04.07 / 06:35

UPS IPO Manufacturing JPMorgan Chase IPOs Mankind Pharma's success boosts hopes of more consumer IPOs in India

Mankind Pharma Ltd. since its listing in Mumbai in May could trigger more consumer-related initial public offerings in India in the second half, according to bankers. The company, which raised 43.3 billion rupee ($528 million) in India’s second-largest new share sale this year, has seen its shares jump 57% in almost two months, drawing a rush of buy calls from analysts.

04.07 / 06:19

Provident Anil Ambani's wife, Tina Ambani appears before ED in FEMA case; Details here

Anil Ambani, Chairman of Reliance ADA Group, appeared before the Enforcement Directorate (ED) in Mumbai for questioning and to provide her statement regarding an investigation related to the alleged violation of foreign exchange regulations, according to official sources. Anil Ambani had already given his statement on Monday, 3 July, under sections of the Foreign Exchange Management Act 1999 (FEMA), and he is expected to appear before the ED again later in the week to complete the process.

04.07 / 01:03

UPS Provident CEO SoftBank ByteDance Rajeev Misra’s $7 billion fund scouting for India opportunities after debut investment in Shapoorji Pallonji

Misra, who stepped back from his executive role at SoftBank Vision Fund (SVF) a year ago, is open to investing in domestic companies from his new venture, One Investment Management, through debt and equity deals. Misra told ET in an interview that One IM, which currently has a corpus of $7 billion, participated in a debt issue floated by the Shapoorji Pallonji group, making it the fund’s debut in India. The $50 million credit infusion was part of $1.7 billion raised by the Mumbai-based Shapoorji Mistry-controlled group through a bond sale that closed recently.

04.07 / 01:03

UPS Aware Action Sebi asks empanelled law firm to return most briefs given to it

ELP), which recently defended the founders of Zee Entertainment against the regulator in an appeals court, to return most of the earlier briefs given to the Mumbai-based law firm to represent Sebi before various judicial forums, three people with direct knowledge of the matter told ET. The Sebi action came after ELP represented Subhash Chandra and Punit Goenka, founder-promoters of Zee Entertainment (ZEE) in the securities appellate tribunal (SAT).

03.07 / 19:11

UPS Provident FIVE Booking Deloitte Boards of IDFC firms approve merger ratio

MUMBAI : The boards of IDFC Financial Holding Co. Ltd, IDFC Ltd, and IDFC First Bank on Monday approved a merger under which shareholders of IDFC will get 155 equity shares of the bank for every 100 shares held. The merger entails the amalgamation of IDFC Financial Holding into and with IDFC, and of IDFC into and with the bank.

03.07 / 19:11

UPS Target Booking Maxim SENSEX A glimpse into the house that Deepak Parekh built

MUMBAI : In 1978, Deepak Parekh joined BSE-S0003013" data-name="Housing Development Finance Corp">Housing Development Finance Corp. (HDFC) Ltd, a housing finance company set up by his uncle, and built it out. When India opened financial services in the 1990s, he led the group’s diversification into many sectors.

03.07 / 18:11

Provident Booking AXY NIFTY record high HDFC Bank hits record high on fund buying

MUMBAI : HDFC Bank Ltd surged to a record ₹1,757.50 in early trading on Monday, supported by institutional buying following its merger with mortgage lender parent Housing Development Finance Corp. (HDFC) Ltd. But subsequent profit booking by some investors eroded gains.

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