City Mumbai Financial News

Subscribe to enjoy similar stories. MUMBAI : People use mutual funds to plan for all sorts of things: buying a house, car, or even an iPhone. However, when it comes to retirement planning, some investors are choosing the National Pension System (NPS) Tier-2 over mutual funds for building their nest egg.

HDFC Bank has decided to divest several key commercial properties inherited during its 2023 merger with its mortgage-lender parent, HDFC, said persons with direct knowledge of the development. Monetisation of these assets, which include some residential apartments, could together fetch about ₹3,000 crore for India's most-valued bank. The assets to be sold include the HDFC House in South Mumbai's Churchgate and residential apartments that were allotted to HDFC's senior officials earlier. Commercial assets across south Mumbai, Kalina, Chandivali and other cities including Kolkata, Mysore, and Bengaluru are valued at around ₹2,400 crore. Residential apartments are likely to be valued around ₹800 crore.

Supreme Court on Monday dismissed the Securities and Exchange Board of India's appeals against a Securities Appellate Tribunal’s (SAT) July order that set aside the market regulator's penalty of Rs 25 crore imposed on Reliance Industries (RIL), its promoters Mukesh Ambani and Anil Ambani and others in April 2021 for violating takeover norms in a case related to the acquisition of RIL shares between 1994-2000. The apex court also dismissed another Sebi appeal against SAT’s December 4 order that set aside the Rs 25-crore penalty imposed by the market regulator on RIL, Rs 15 crore on Mukesh Ambani, Rs 20 crore on Navi Mumbai SEZ and Rs 10 crore on Mumbai SEZ for their alleged role in the manipulation of prices of Reliance Petroleum Ltd (RPL)s shares in November 2007. While the appellate tribunal had quashed the penalties against Mukesh Ambani, Navi Mumbai SEZ, and Mumbai SEZ in the same case, it upheld SEBI's penalty against Reliance Industries. RPL was absorbed into RIL in 2009.

IndiGo is working with the civil aviation ministry to explore the possibility of extending the wet lease of wide-body Boeing 777 planes from Turkish Airlines as the existing lease period is ending this week. Currently, IndiGo is operating two wet-leased Boeing 777 planes for flights from Delhi and Mumbai to Istanbul. These are also the only two wide-body aircraft that are in the fleet of the airline, which is India's largest carrier with a domestic market share of over 62 per cent. These aircraft were wet-leased to cater to the rising demand for international travel from India. IndiGo started operating its first wide-body Boeing 777 aircraft on the Delhi- Istanbul route from February 1, 2023, and began operating the Boeing 777 plane on the Mumbai-Istanbul route from May 17, 2023.

Subscribe to enjoy similar stories. Mumbai: When Swiggy Ltd lists on the stock exchanges on Wednesday, it will mark the culmination of a short journey for Sriharsha Majety, the company’s co-founder. Majety, who began his startup journey a little over a decade ago by launching a logistics platform, quickly grew bored and shut that business.

stocks rallied as much as 15% in Mumbai trading on Monday even as equity benchmarks, BSE Sensex and NSE Nifty, traded in the amid brisk in frontline bluechip counters. Stocks that surged in excess of 15% included, Sujala Trading(20.00%), PPAP Automotive (20.00%), Pix Trans(19.99%), VCU Data Mgmt(19.97%) and Devki Leasing(18.42%).

Keystone Realtors, which operates under the brand Rustomjee, is confident of exceeding its guidance of Rs 4,000 core for project additions during the current financial year 2024-25 in the backdrop of a robust deal pipeline, said a top company official. The listed company has added 3 new projects with a total gross development value (GDV) of over Rs 1,333 crore in the quarter ended September taking it to over Rs 2,300 crore in the first half of the financial year. Apart from these projects in the redevelopment space, the company has also forayed into the fast-growing market for plotted developments with the acquisition of an 88-acre plot in Kasara near Mumbai.

Piyush Goyal said on Monday. He appealed to people to choose the BJP-led Mahayuti, which he said is committed to development and progress in the November 20 Maharashtra assembly elections. Stressing that the Mahayuti has been promoting inclusive policies and avoiding divisive tactics, the Mumbai North MP appealed to voters to move beyond religious lines and choose development and progress. He slammed Congress for allegedly not keeping the pre-poll promises in the party-ruled states and Shiv Sena (UBT) leader Uddhav Thackeray for joining hands with the parties that «spread fear and misinformation».

The study, which focused on Greater Mumbai and Thane, found that the area covered by slums dropped from 47.7 square kilometres in 2005 to 43.6 square kilometres in 2022. However, this overall decline masks a more complex pattern: some slums expanded, others shrank, and some disappeared entirely over the past two decades. Specifically, slums in certain areas reduced by 10.2 square kilometers, while others grew by 6.1 square kilometres, according to the TOI report. In addition to changes in size, slums became denser after 2010. John Friesen, the lead author of the study, explained, “While slums grew in area in the first decade, they densified in the second.”

Edtech startup Bhanzu raised $16.5 million (about Rs 139 crore) in a funding round led by venture capital firm Epiq Capital at a valuation of about $120-122 million. The round also saw participation from Mumbai-based venture fund Z3Partners and existing investors Lightspeed Ventures and Eight Roads. The funds will be used for expanding its presence in the US and for investing in generative artificial intelligence (Gen AI).

Reliance Industries, MD Mukesh Ambani, the Navi Mumbai Special Economic Zone and the Mumbai SEZ. The case was related to alleged manipulative trades in shares of the erstwhile Reliance Petroleum (RPL). In January 2021, Sebi had imposed a penalty of Rs 25 crore on RIL and Rs 15 crore on Ambani. It had also asked the Navi Mumbai SEZ to pay a penalty of Rs 20 crore. RPL was absorbed into RIL in 2009.

Subscribe to enjoy similar stories. MUMBAI : Index options trading on the National Stock Exchange (NSE), the country's largest stock exchange, hit a record high based on the number of contracts traded in October, which saw a 6% pullback in the bellwether Nifty amid tepid earnings growth, rising tensions in the Middle East, and uncertainty over the US presidential elections.

Subscribe to enjoy similar stories. Mumbai: Warner Music India, part of global entertainment powerhouse Warner Music Group, has made a strategic minority investment in SkillBox, the country’s third-largest ticketing and live entertainment company after BookMyShow and Insider. This move marks Warner Music India’s entry into live entertainment business, strengthening its portfolio and expanding opportunities for its artiste roster.

Subscribe to enjoy similar stories. MUMBAI : The true litmus test that differentiates high-quality lenders is whether they have “best-in-class" non-performing asset (NPA) ratios during crises. This applies to all kinds of lenders in all kinds of lending segments.

HDFC Capital, the real estate private equity arm of HDFC Group, has formed a partnership with realty developer Runwal Enterprises to set up a platform for developing residential projects for affordable, mid-income and upper mid-income families. As per the terms of the pact, HDFC Capital will be investing more than '1,150 crore to support the development of sustainable housing projects in Mumbai. These projects will have an estimated revenue potential of more than $1 billion. «HDFC Capital is committed to forging long-term partnerships with leading developers like the Runwal Group, with a proven track record of development and delivery. Through this collaboration, we aim to address the growing demand for sustainable, high-quality homes for affordable and middle-income families in India,» Vipul Roongta, managing director and CEO, HDFC Capital, told ET.

arrested the shooter and two others in NCP leader Baba Siddique murder case from Uttar Pradesh. The shooter Shivakumar and two others were arrested in a joint operation with STF of UP police, an official said.

Congress chief Mallikarjun Kharge on Sunday criticised the «Ek Hai to Safe Hai» and «Batenge to Katenge» slogans, claiming threat to India from the RSS, BJP, PM Narendra Modi, and Home Minister Amit Shah. Addressing a 'Save Constitution' conference in Mumbai, Kharge targeted the prime minister, alleging discussions and debate are not allowed in Parliament. «The prime minister says 'Ek Hai to Safe Hai' while other leaders (of BJP) talk about 'Batenge to Katenge' (divided we fall). Who is threatened? Is there any problem? In fact, the country faces threat from RSS, BJP, Modi, and (Union home minister Amit) Shah,» Kharge said. Launching BJP's campaign for the November 20 Maharashtra assembly polls, Modi had mentioned 'Ek Hai to Safe Hai' while accusing the Congress of trying to divide OBCs, SCs and STs.

Sudha Murthy, were the star guests on the Netflix show 'The Great Indian Kapil Sharma Show', where they couple narrated stories from their lives in a hilarious manner. In one such instance, Narayana Murthy made a confession of him forgetting their 25th wedding anniversary as he had a speech to deliver in Mumbai. He said, “One morning, Sudha asked me, ‘Is there anything special today?’ I replied, ‘No, nothing,’ and went to the office. As I was getting in the car, she asked again, ‘Think of anything special today?’ I still didn’t realize.”

Justice Dhananjaya Yeshwant Chandrachud, often known as DYC in the legal world, has had a distinguished career that has left a lasting mark on India's judiciary. Known for his progressive ideas, dedication to justice, and compassion, Chandrachud’s journey has been both influential and inspiring.

Subscribe to enjoy similar stories. That pile of books and other ‘stuff’ on the table now resembles a person. You’d put on a pot of water for boiling, but it has long evaporated and the pot has turned to a neat shade of rust.

Subscribe to enjoy similar stories. The conversation around Inside Out 2 seems to be still going strong, months after its release. It offers food for thought to adults as well, especially the climax scene—the one in which the 13-year-old protagonist, Riley, has a panic attack.