City Mumbai Financial News

Prestige Estates, TVS Motor, Wipro, Symphony, Adani Enterprises among others will be in focus due to various news developments. Prestige Estates Realty developers Prestige Group, RC Group and Valor Estate are in advanced talks to undertake one of the largest cluster redevelopment projects of public housing colonies in Mumbai, said people aware of the development

Subscribe to enjoy similar stories. As the threats posed by climate change escalate, countries are having to navigate the challenge of balancing economic growth with environmental sustainability. India, with its large population and rising economic stature, is poised at the vanguard of this endeavour.

Subscribe to enjoy similar stories. Homemade bullet trains may belt down specialised railway corridors in the not-too-distant-future.

Subscribe to enjoy similar stories. Indians are opting to fly premium more often, especially on metros routes, as they seek better experiences and business travel grows. That's sent fares for such seats on aircraft soaring through the roof.

Prestige Group, RC Group and Valor Estate are in advanced talks to undertake one of the largest cluster redevelopment projects of public housing colonies in Mumbai, said people aware of the development.

Punjab terror conspiracy case, the National Investigation Agency (NIA) on Monday arrested a key aide of Khalistani terrorist Lakhbir Singh alias Landa and gangster Bachitar Singh alias Pavitar Batala, according to an official statement. Jatinder Singh alias Jyoti of district Gurdaspur, Punjab, had been absconding since the arrest of weapons supplier Baljit Singh alias Rana Bhai in July 2024.

Subscribe to enjoy similar stories. MUMBAI : Mahindra Lifespace Developers Ltd, the realty arm of the Mahindra Group, will pause fresh investments in the Delhi-National Capital Region (NCR) and narrow operations to markets where it can create a niche as a ‘net zero’ developer. “We have exited two cities completely, Nagpur and Hyderabad, and we are holding back any investment in Delhi NCR right now," said Amit Kumar Sinha, managing director and chief executive at Mahindra Lifespace.

Subscribe to enjoy similar stories. New Delhi/Mumbai: Telecom service providers could consider offering specialized tariff plans with high upload speeds for influencers, live streamers and Instagrammers, as users seek reliable data connectivity when they attend high-profile events like the concerts of Dua Lipa, Coldplay and Ed Sheeran, industry executives and analysts said.

Data centre capacity addition in the colocation space is expected to reach approximately 230 MW (IT load) by the end of 2024, with a similar or higher capacity addition anticipated in 2025, according to Cushman & Wakefield data. In 2025, while the majority of capacity creation will occur in Mumbai, other cities such as Delhi-NCR, Kolkata, and Chennai are also expected to see significant growth. India has the potential to become a global data centre hub due to its low construction, land and power costs compared to other countries, coupled with a well-established IT and digitally enabled services ecosystem. According to Cushman & Wakefield, the median cost of constructing a data centre in India is estimated at $6.8 million per MW of capacity, significantly lower than most APAC nations-Australia is at $9.17 million, Japan is at $12 million.

National Company Law Tribunal (NCLT) has approved the demerger scheme of Raymond Ltd, paving the way for the reorganisation of its real estate business into a separate entity, Raymond Realty. The move is aimed at unlocking the growth potential of the group's real estate vertical and attract strategic investors. Raymond Ltd, the demerged company, will transfer its real estate assets and operations to Raymond Realty Limited, the resulting company, effective from April 1, 2025. As part of the scheme of this demerger exercise, existing Raymond shareholders will be receiving one equity share of Raymond Realty for every share held in Raymond Ltd.

New supply in Delhi-NCR is set to increase 59 per cent to 11,223 units in the current December quarter from 7,072 units in the corresponding period of the previous year. Among nine major cities across India, Delhi-NCR is the only market where sales and new supply are estimated to rise during the current quarter, real estate data analytics firm PropEquity's data showed.

Around 2.30 pm on Wednesday, when Neel Kamal set off to sail from Gateway to Elephanta island, a popular tourist destination, it was business as usual for the boat operators. Without paying much heed to rules and regulations, they overbooked ferrying 110 passengers instead of 80 that is allowed by the Maharashtra Maritime Board (MMB). At 3.55 pm as the boat was nearing Karanja, a Navy craft undertaking sea trials lost control, on a collision course, it rammed into the ferry, capsizing it. Just like the roads where the traffic is monitored and regulated, the sea too has its rules. Post the 26/11 attacks where terror visited Mumbai through seas, the coordination between the multiple maritime stakeholders has gotten better and no sea attack in the last 16 years bears testimony to the same.

Shiv Sena UBT leader Sanjay Raut on Friday claimed attacks on Marathi-speaking people have increased after the BJP won the Maharashtra assembly polls and alleged that an environment was being created to drive them out of Mumbai and neighbouring areas. Talking to reporters, Raut highlighted an incident at Kalyan in Thane district, where non-Marathi-speaking people allegedly attacked a Marathi-speaking family. He further dubbed the Maharashtra government as «inauspicious» over the death of 14 people in the collision between a navy craft and a passenger ferry. He alleged that dacoity and murders were taking place in villages and districts.

Gold demand in India remained subdued this week as volatile prices prompted potential buyers to delay purchases, while higher rates across China are expected to potentially offset upcoming seasonal demand. After gold prices became highly volatile over the past two weeks, buyers are now adopting a wait-and-see approach, hoping for prices to decline further, said a Chennai-based jeweller. In India, domestic prices fell to Rs 75,459 ($887.28) per 10 grams earlier this week after rising to Rs 79,120 last week.

Subscribe to enjoy similar stories. A common trait among many successful entrepreneurs, says Harsh Jain quoting a study, is that they were average academic students. “When you’re an entrepreneur, you can do your market sizing, research, etc.

Vishal Mega Mart Ltd.’s trading debut Wednesday underscored this insatiable appetite for IPOs — shares of the retailer surged more than 40%. The feeding frenzy is set to roll into 2025, according to several women on the front lines.

Nirmala Sitharaman lauded the customs officials of Mumbai's Chhatrapati Shivaji Maharaj International (CSMI) Airport for their vigilance and successful seizure of over 2 kg of smuggled gold worth Rs 1.48 crore. In a social media post, the minister wrote, «Appreciate @mumbaicus3 for showing diligence. Well done,» acknowledging the team's efforts. The Customs Department at the Mumbai airport intercepted two cases of gold smuggling during December 18-19, 2024. The officials confiscated a total of 2.073 kg of 24-karat gold, which had been smuggled in innovative ways.

One97 Communications Limited (OCL), which owns Paytm. The company said these trends showcase how Paytm users travelled through the year. Throughout the year, Mumbai and Dubai emerged as the most-searched destinations, reflecting a shared love for bustling city life and luxurious escapes. A passion for affordable travel was evident among younger generations, as 36% of bus bookings came from travellers under 25.

Navy craft rammed into their ferry off the Mumbai coast, was found on Thursday, taking the toll to 14, said police as the Navy launched a probe into one of the deadliest crashes in the city's harbour area. A day after the crash, the body of the 43-year-old man was found near the ferry, police said. Search operation continues to locate a seven-year-old boy who is still missing, a police official added. A naval helicopter and boats of the Navy and Coast Guard were deployed on Thursday to look for the missing passengers. Eight boats, including those from the Navy and Coast Guard are involved in the Search and Rescue (SAR) operation, the official said.

immigration officials stopped her from boarding a flight to Toronto. The arrest followed the discovery of irregularities in her passport, which had been tampered with to hide certain details about her travel. Satveer Kaur, a resident of Punjab, was set to travel to Toronto to join a new job after completing her higher studies in Canada. However, when officials examined her passport, they found that the arrival date of September 28 had been deleted. The police later revealed that Kaur had removed this date to prevent her parents from knowing when she had returned to India. According to a police official, «She said that her parents were unaware about her arrival on Sept 28. She did not want her parents to know about it as she had gone to meet her friend.»

Subscribe to enjoy similar stories. Mumbai: A stone’s throw away from a Pradhan Mantri Jan Aushadhi Kendra in suburban Mumbai stands another pharmacy, called ‘Mumbai Jan Aushadhi’. Its walls are lined with branded generics—copies of once-patented drugs that are now sold and marketed by pharma companies.