City Mumbai Financial News

Tata Motors is expecting passenger vehicle (PV) retail sales to maintain growth momentum in the ongoing quarter driven by year-end demand, according to a top company executive. As per FADA data, festive demand helped PV retail sales rise 32 per cent year-on-year (YoY) to 4,83,159 units in October. The segment reported a 7 per cent YoY increase to 6,03,009 units during the 42-day festival period this year. In September, PV retail sales had seen a dip of 19 per cent to 2,75,681 units.

City gas companies like Indraprastha Gas Ltd and Adani Total Gas Ltd are mulling an increase in CNG prices after supplies of cheaper input gas was cut for the second time in a month, but the government officials say the retailers must give a cost breakup to justify the hike. The government, with effect from November 16, cut supplies of low-priced natural gas coming from old fields to city gas retailers by up to 20 per cent. This reduction came on the back of a 21 per cent reduction on October 16. City gas retailers IGL, which retails CNG in national capital and adjoining cities, Mahanagar Gas Ltd that does the same in Mumbai, and Adani Total Gas Ltd which operates in Gujarat and elsewhere, in regulatory filings flagged profitability concerns due to supply cut and hinted at price hike. Officials in the ministry of petroleum and natural gas however are unimpressed as they feel the retailers operate on «hefty» margins and can easily absorb the additional cost they may have to incur on replacing the lost volumes with slighted higher priced gas from new wells or imported LNG.

Subscribe to enjoy similar stories. Standing on the Karnataka-Goa border near Karwar, the wide NH66 runs straight till the horizon. It sounds like the famous US Route 66, but on the map, the two couldn’t more different.

Election Commission of India has prohibited the sale of alcohol across Mumbai and other Maharashtra cities for four days in the election season. The order is to conduct the polls smoothly. Earlier, Mumbai, along with other cities in Maharashtra like Thane and Pune, witnessed a dry day on November 12 due to the occasion of Kartik Ekadashi. Dry days refer to the specific days of the when the sale of alcohol remains completely prohibited in a region. Such decisions are usually taken during several important national, religious or cultural events.

Knight Frank India. Real estate consultant Knight Frank, in its latest edition of the Asia-Pacific Prime Office Rental Index for Q3 (July-September) 2024, said Delhi-NCR is the 6th most expensive office space rental market across the APAC region. Hong Kong SAR continues to be APAC's most expensive office market during the third quarter of this calendar year. Prime rents in the NCR remained stable in Q3 2024, while Mumbai and Bengaluru saw year-on-year (YoY) increases of 5 per cent and 3 per cent, respectively, driven by strong demand from corporates and limited new supply.

Subscribe to enjoy similar stories. After producing Rocket Boys, the story of Homi Bhabha, Vikram Sarabhai and India’s science and nuclear programme, Nikkhil Advani grabbed the opportunity to helm an adaptation of Dominique Lapierre and Larry Collins’s book Freedom at Midnight. The SonyLiv series (streaming from 15 November) stars Sidhant Gupta as Jawaharlal Nehru, Chirag Vohra as Mahatma Gandhi, Rajendra Chawla as Sardar Vallabhbhai Patel and Arif Zakaria as Muhammad Ali Jinnah.

Music of the Spheres world tour will now include two performances in the city, offering more fans the chance to experience their iconic live act. The first show, scheduled for January 25, 2025, at Ahmedabad's Narendra Modi Stadium, saw an instant sellout as tickets went live, sparking a wave of demand across social media. In response to the overwhelming enthusiasm, Coldplay officially confirmed a second concert at the same venue on January 26, 2025. Prior to this, the band had announced three performances in Mumbai on January 18, 19, and 21, 2025. Featuring frontman Chris Martin, guitarist Jonny Buckland, bassist Guy Berryman, and drummer Will Champion, Coldplay last performed in India in 2016 at the Global Citizen Festival in Mumbai.

Thrissur police is investigating a scammer who accidentally called a police officer, posing as a cop from Mumbai. The scammer claimed the recipient was involved in a major cybercrime, with their Aadhaar number linked to illegal activities on the «dark net.»

Maharashtra Chief Minister Eknath Shinde said that the Mahayuti government is aiming for a «hat-trick» victory in upcoming assembly elections and emphasized a strong commitment to securing a decisive majority in the third round of elections. Chief Minister Shinde claimed that his party is set to achieve a «hat-trick» win in the upcoming elections, likening it to a cricket match where the target is a clean, powerful win. Addressing a public in Mumbai's Dahisar on Friday, Eknath Shinde said, «We have been elected twice and now it is the turn of a hat-trick. We have to take the wicket of the opponent and take it with a good majority.»

Indian cricket captain Rohit Sharma and his wife, Ritika Sajdeh, have been blessed with their second child, a baby boy, on Friday, November 15. The couple, who are already parents to their daughter Samaira, born in 2018, have yet to announce the delightful news to their fans and well-wishers formally.

Subscribe to enjoy similar stories. Small businesses are ramping up adoption of managed cybersecurity services to take on an increasing volume of cyber threats, with security providers using artificial intelligence (AI) to reduce the cost of their services.

Rahul Gandhi on Friday addressed two public rallies in Jharkhand's Mahagama and Bermo where he raised the issue of reservation and tribal rights. Gandhi attacked the NDA government and PM Modi over reservation in Jharkhand.

Jaypee Infratech Ltd's Managing Director and Chief Executive Officer Aalok Champak Dave has resigned from the company citing personal reasons. Jaypee Infratech has appointed Abhijit Gohil as Chief Executive Officer (CEO) of the company. Mumbai-based Suraksha Group has taken control of Jaypee Infratech Ltd after winning the bid to acquire the latter through the insolvency process. Dave, who joined Suraksha Group in 2015, has been involved in the process of acquiring Jaypee Infratech for the last six years.

Subscribe to enjoy similar stories. Donald Trump is not India’s No. 1 problem.

Donald Trump is not India’s No. 1 problem. At least not right now. His hawkish trade policy may well emerge as an outsize threat to supply chains and global growth. But a bigger, more immediate worry for the central bank in Mumbai is tomatoes. Or, to be more specific, a 161% jump last month in tomato prices — due to late and heavy rainfall — from a year ago. With potatoes and onions also becoming dearer, food expenses are out of control. The average cost of a homecooked meal in October — a standard fare of rice, roti, dal, veggies, salad and yoghurt — was the steepest in 14 months, according to CRISIL, an affiliate of S&P Global Inc. The chances of a December rate cut by the Reserve Bank of India were dimming even before the US election. But with inflation spiking above the upper end of the central bank’s tolerance range of 2%-6%, many analysts are ruling out monetary easing before the start of the next financial year in April. By which time, the next American president’s policies would have started to have an effect, particularly on the exchange rate.

Subscribe to enjoy similar stories. As consumers realize the grave impact of fast fashion on the environment, a host of sustainable clothing brands like Virgio, Nicobar, and No Nasties have emerged in the last few years, aiming to influence users to opt for upcycled and climate-friendly clothing. Consumers across age groups, including Gen Z and young millennials, are now increasingly opting for environmentally sustainable T-shirts, jeans and even accessories like belts and bags, offering up-and-coming startups a new opportunity to capitalize on.

Subscribe to enjoy similar stories. Mumbai: Recent regulatory curbs on options trading will actually give a fillip to BSE Ltd's ongoing efforts to make the Sensex and Bankex options more mature products, enabling the exchange to potentially generate higher premium turnover and earn more in transaction charges, according to bourse’s MD and CEO Sundararaman Ramamurthy.

Logistics aggregator Shiprocket and air cargo handling company Cargo Service Centre (CSC) have been selected by the government on a pilot basis to set up ecommerce export hubs in the country, a senior official said on Thursday. The ecommerce export hubs (EECH) will come in and around Delhi airport and begin operations in February next year, Director General of Foreign Trade Santosh Kumar Sarangi told reporters here. While Shiprocket is headquartered in Gurugram, the CSC is Mumbai-based.