City Mumbai Financial News

Subscribe to enjoy similar stories.MUMBAI: Indian international racer Jehan Daruvala is switching tracks. The fourth-generation scion of the Sterling and Wilson Group has hung up his racing suit to join the family business.The 27-year-old now competes to secure new business contracts and races against deadlines to complete projects. The career move comes as a renewable energy and data centre boom has turned around the prospects of the Sterling and Wilson Group, which specializes in constructing solar power plants and data centres.“I think this is also a fast track.

Subscribe to enjoy similar stories.MUMBAI: Singapore-based private equity firm Everstone Capital will invest close to $270 million for a significant stake in Apothecon Group, which includes India-based Apothecon and US-based Navinta, it said in a statement on Tuesday.The combined platform is a regulated-markets-focused speciality formulations business with in-house formulation capabilities and captive active pharmaceutical ingredient (API) manufacturing. It has a diversified commercial presence across the US, Europe and other international markets.Apothecon was founded in 2003 by industry veterans Mahendra Patel, former chief scientific officer at Sandoz and co-founder of Invamed (later acquired by Sandoz), and Joe Renner, former chief operating officer of Sandoz and chairman of Zydus US.

Subscribe to enjoy similar stories.MUMBAI: Foreign portfolio investors (FPIs) pulled out a record ₹1.8 trillion from Indian equities in FY26, according to data Centre for Monitoring Indian Economy (CMIE), but the headline outflow masks a more targeted shift. Rather than a broad exit, investors pared exposure to IT, defensives and parts of consumption, while selectively adding to sectors tied to India’s capital expenditure cycle.A Mint analysis of sectoral flows shows that even as overall selling remained elevated, capital moved towards capital goods, telecom, and metals, signalling a narrower, conviction-led allocation rather than a wholesale retreat from the market.

Subscribe to enjoy similar stories.MUMBAI: As landfill capacity tightens in major cities and energy security concerns rise, investors are beginning to revisit a sector long avoided for its execution risks. Waste-to-energy in India is emerging as a policy-supported investment theme, moving from a neglected infrastructure niche, but it remains early, illiquid and operationally constrained.The shift is being reinforced by new regulatory signals.

Subscribe to enjoy similar stories.Bengaluru: Senior housing developers and operators, which build and manage residential communities for those aged 55 and above, are looking to ramp up operations by acquiring land, expanding into new cities, and adding premium services as demand for such homes rises.The senior living segment in India has seen mixed success in the past, and has remained under-penetrated. That is fast changing, though, with operators riding a strong demand, and developers too, entering the space.Bengaluru-based Manasum Senior Living, which has four operational projects in the city and one in Goa, has entered Chennai, Mysuru, Tirupati, Mangaluru, and Pune.

Subscribe to enjoy similar stories.MUMBAI: Digital lending firms regained some momentum in FY26, as unsecured lending picked up and growth stabilized after a regulatory-led slowdown the previous year, industry executives and analysts told Mint.The rebound follows a muted FY25, when tighter regulations, rising costs and weakening credit quality sharply slowed expansion. Loan growth, for non-banking finance companies (NBFCs) with assets under management (AUM) below ₹15,000 crore, fell to about 13% in FY25 from around 36% a year earlier, according to a November 2025 report by Icra Ltd, as unsecured lending and microfinance segments contracted.

Subscribe to enjoy similar stories.Bengaluru/Mumbai: Tata Trusts is expected to discuss several vexing issues, including whether to retaining Tata Sons as a private company and the possibility of giving a third full term to chairman Natarajan Chandrasekaran, when the Trustees of the philanthropic entities meet in the second week of May, about four months after its last meeting in January, according to two Tata Group executives who did not wish to be named.The agenda for the meeting has not yet been finalised or shared with trustees, the two executives said, and the meeting could be convened on 8 or 12 May, depending on the availability of all trustees.Whether Chandrasekaran's third term will be discussed depends on Tata Sons' response to the questions that Tata Trusts chair Noel Tata raised at the Tata Sons board meeting on 24 February, one executive said. At that meeting, Noel Tata had raised questions about Tata Sons' strategic direction, prompting the board to defer a decision on Chandrasekaran's re-appointment for a third five-year term, set to begin in February 2027.Noel Tata, who took over as the chair of Tata Trusts on 11 October 2024, had raised three questions at the board meeting in February.

Subscribe to enjoy similar stories.MUMBAI: Portfolio management services (PMS) firms have asked the market regulator to widen their investment universe, as the segment struggles to keep pace with rival products, four people aware of the discussions said.Key demands include allowing investments in unlisted markets and permission to participate as anchor investors in initial public offerings (IPO), both currently restricted for PMS structures.Currently, only non-discretionary PMS allows up to 25% allocation to unlisted securities, such as alternative investment fund units, real estate investment trusts and infrastructure investment trusts. Discretionary PMS, which accounts for 92% of total PMS assets as of February, is not allowed to invest in unlisted securities.The push comes as PMS growth trails mutual funds and alternative investment funds (AIFs), with industry executives pointing to tighter investment rules, operational constraints and tax friction as factors hurting competitiveness in India’s asset management market.“Sebi (Securities and Exchange Board of India) is keen on growing this segment and making PMS a platform for wealth management.

Mumbai: The Nuvama Group’s private equity arm has invested ₹200 crore for a minority stake in Val-Met Engineering, betting on a specialized supplier of aerospace and defence materials as global manufacturers move more of their high-end production to India.“Over the last couple of years, there has been a rising focus in India and globally to become more self-reliant. Sensitive sectors like aerospace, defence, industrial and advanced/value added manufacturing have been the biggest beneficiaries of this shift in mindset,” Pranav Parikh, managing partner and head of private equity at Nuvama Asset Management, told Mint in an interview.According to Parikh, global conflicts and geopolitical uncertainties have made domestic self-sufficiency a critical priority.

On most days in Bengaluru, Bert Mueller could pass unnoticed, except for the auto, which is bright red and unmistakable. Mueller, an American who moved to India in his early 20s, often drives the three-wheeler around Indiranagar, where he lives.

HDFC Bank episode shows, ADRs remain a flashing alarm bell for FPI sentiment.In the early 2000s, Indian markets were marked by sharp information asymmetry, and remained relatively isolated from their global peers. For foreign investors at the time, these US dollar-denominated certificates traded in American exchanges opened a critical but often congested lane connecting to Dalal Street.Switch to present—the landscape has transformed.

Mumbai: In an effort to improve policyholder experience and penetration of health insurance in the country, the Insurance Regulatory and Development Authority of India (Irdai) has constituted a sub-committee of the Insurance Advisory Committee. The insurance regulator notified the establishment of the committee and its members on 2 April, and then its role and scope, as well as the issues it will address.

Bay Capital Partners plans to raise about ₹1,000-1,500 crore for a new fund targeting late-stage tech firms, joining investors chasing India’s rapidly maturing digital economy.The Mumbai-based firm’s India Digital Opportunities Fund will back 10 to 15 companies in both private and public markets. To lead the vehicle, Bay Capital has brought in former Delhivery executive Sandeep Barasia and ICICI Ventures veteran Tej Kapoor as co-founders and managing partners.“It's the first time we're doing a dedicated digital crossover fund.

Bengaluru: At a time when global geopolitical tensions are making foreign investors cautious, Neo Alternative Asset Managers is doubling down on domestic credit with plans to raise ₹1,500-2,000 crore for its maiden real estate fund, its managing director Kaushik Desai told Mint in an interview. The category-II alternative investment fund (AIF) will largely offer credit to residential real estate developers across tier 1 and tier 2 cities, he said.Earlier this week, Neo Alternative Asset Managers said it had ventured into real estate, bringing aboard Kaushik Desai, Vinit Prabhugaonkar, and Vimal Jangla, the former senior leadership team at Walton Street India, to anchor its real estate investment platform.The three bring with them more than two decades of experience in real estate investing, asset management, and structured financing.

₹2980 a share (30 shares make one contract) , implying a range of 49720- 55680 from yesterday through 28 April when the contracts expire.That works out to an 11.3% range over Tuesday's closing. Any breach of this range will expose them to huge losses.The Bank Nifty comprises 14 stocks led by HDFC Bank, ICICI Bank , Axis Bank , SBI and Kotak Mahindra Bank. Ram Sahgal is a deputy editor at Mint.

. is looking to capitalise on that shift, betting on city hotels and experiential resorts.“Travel is shifting, with Asia, including India, likely to benefit as some European and West Asia-bound tourists who may divert their travels from elsewhere,” said William E. Heinecke, founder and chairperson of Minor International, which runs hotel brands like Avani and Anantara.It’s the right time to focus on India, he told Mint. "There’s tremendous potential for both domestic and international travel here,” said Heinecke, who is in India to attend the Hotelivate hospitality conference in Mumbai this week.The Thailand-based hotel company is signing an Anantara at the World Trade Centre in Kolkata this month.

“We do blue-collar hiring, mainly in the manufacturing and supply chain sectors, and there, the costs of getting workforce in the metros has gone up by about 15-20% in a month,” said Neeti Sharma, chief executive officer of TeamLease Digital, part of the staffing firm TeamLease Group.Scarcity of liquefied petroleum gas (LPG) has forced construction and manufacturing sectors' blue-collared workers—scaffolders, plumbers, welders, etc.—back to their hometowns and villages.Radheshyam and four others together iron clothes in south Mumbai. These migrant workers from Rae Bareli, Uttar Pradesh, together typically use one LPG (liquefied petroleum gas) cylinder for a little over a month.

Mumbai: Adar Poonawalla-led Serum Institute of India Pvt. Ltd is in talks to partner with medical device maker Trivitron Healthcare to scale up its investment in MyLab Discovery Solutions Pvt.

India’s luxury hotels are exploring ways to capitalize on their brands by going beyond room bookings and food and beverage sales. Chains such as Taj, Marriott, Leela, Oberoi and Sarovar are increasingly moving into branded residences and serviced apartments to diversify their offerings.The trend, which has been around for a few years, gathered pace in FY26, with at least half a dozen projects signed and launched across Mumbai, Gurugram, Noida and Greater Noida as hospitality companies looked for more asset-light revenue streams tied to real estate.Indian Hotels Company Ltd, which runs the Taj brand of hotels, signed an agreement to manage 74 Taj serviced apartments with the Gulshan Group in Noida last month.

₹8,136 crore – its best-ever, driven annually, by new project launches and geographical diversification. Still, it missed the ₹8,500 crore pre-sales target set for the fiscal year.Sobha launched nine projects in six cities during FY26. Out of these, three were in the March quarter (Q4FY26), consequently, pre-sales for Q4 rose year-on-year to ₹2,039 crore.

.Singh said the company did “blockbuster business” on the opening match weekend, without giving specific details. “April and May could bring in 25% more revenue at least,” he added.Besides live screenings, several restaurants have made themed menus, beer deals and delivery offers.