City Mumbai Financial News

Subscribe to enjoy similar stories. When Presolv360 began operations in 2017, most companies and individuals still preferred to gather in dim court halls to resolve their disputes.

Subscribe to enjoy similar stories. Partners at top law firms have expressed alarm at the unchecked rise of influencers on social media who spread misleading and inaccurate interpretations of the law and asked viewers to be careful and seek legal counsel before acting on such advice.

Subscribe to enjoy similar stories. India’s growing prominence on the global tech stage is attracting industry heavyweights, though not without friction. The country’s IT sector is globally renowned not just for its scale but also for its deep expertise in computer science.

The number of ex-China EM funds has nearly doubled to 70 worldwide in two years, Morningstar data showed, reflecting a robust investor appetite for such assets outside of China.

Subscribe to enjoy similar stories. Space World group is evaluating various routes to raise funds to channel into new ventures Constl and Ranext that will offer fibre connectivity between data centres and in-building plug-and-play fibre network for internet services providers. Founder Ankit Goel told Mint in an exclusive interaction that the company will go to market in the next three to six months to raise funds but was yet to decide the route it would take and the equity it intended to dilute.

bankruptcy court has rejected Brihanmumbai Electric Supply and Transport (BEST) Undertaking’s application to direct the liquidator of Spark Green Energy (Satara) Ltd to categorise it as a secured financial creditor and also admit its claim of Rs 156 crore. The city-based public utility undertaking had approached the Mumbai bench of the National Company Law Tribunal (NCLT) after the liquidator of Spark Green Energy (Satara) rejected the company’s claim to admit the amount. “The respondent (liquidator) was fully justified in categorizing the appellant as an unsecured financial creditor, given that the charge was not registered with the registrar of companies,” said the division bench of Kuldip Kumar Kareer and a technical member Anil Raj Chellan in its order of October 25. “Therefore, no fault can be found with the impugned order passed by the respondent. Consequently, we reject the appellant's prayer to be considered and classified as a secured financial creditor of the corporate debtor.”

IPO) at Rs 371-390 per equity share of the face value of Re 1, according to an announcement by the Bengaluru-based Food and grocery delivery company on Wednesday. The IPO will be open for subscription from November 6-8.

stocks rallied as much as 15% in Mumbai trading on Wednesday 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, Force Motors(19.99%), Yash Chemex Ltd.(19.99%), Tirupati Sarjan(19.98%), Pharmaids Pharm(19.97%), Baba Arts(19.83%), Taylormade Renewable(19.13%), Gala Precision Engin(18.33%), GHCL Textiles(16.71%), Sunshield Chem(15.38%) and Futuristic Sol(15.10%).

Subscribe to enjoy similar stories. MUMBAI : Bharti Airtel Ltd has done well on one count in the September quarter (Q2FY25), but fell short on another. First, the good news.

Devendra Fadnavis on Wednesday said the BJP still wants to throw its weight behind MNS head Raj Thackeray's son Amit Thackeray in Mahim assembly seat, which the ruling Shiv Sena is also contesting. Efforts will be made to find a solution to this, Fadnavis told reporters here. The senior BJP leader also said his party would try to convince most of its rebels to withdraw their nominations, but added that there will be friendly fights in some seats in the November 20 state polls. The Shiv Sena, led by CM Eknath Shinde, has fielded sitting MLA Sada Sarvankar from Mahim, while Mahesh Sawant is the candidate of the Shiv Sena (UBT) headed by former CM Uddhav Thackeray from the seat in Mumbai.

Subscribe to enjoy similar stories. MUMBAI : Diwali is one of India's most significant festivals, marked by various spiritual and religious rites. A key tradition is Muhurat trading, where traders and investors perform Laxmi Puja for prosperity and strategically accumulate valuable stocks to diversify their portfolios.

Subscribe to enjoy similar stories. Mumbai: The Reserve Bank of India has asked private equity firm Warburg Pincus to bring down its stake in mortgage lender Home First Finance to 20% or lower before completing the proposed acquisition of Shriram Housing Finance, according to two people involved in the transaction. “Warburg has to divest 3% of their stake in Home First; they currently have around 23%.

Sebi chairperson Madhabi Puri Buch by alleging she had rented a property to a company controlled by people, who had held senior positions in a firm that had been under the watch of the regulator, and the party claimed that it amounted to conflict of interest. «Ms Madhabi Buch owns another flat in Mumbai. In 2021-22, she earned rental income from a property rented out to a company called Green World Buildcon and Infra. This company is owned by Mukul and Vipul Bansal. Mukul Bansal has a significant background with Indiabulls Group, being part of its senior management and being on the board of several related companies. Indiabulls Group, where Mukul Bansal has been involved, has faced several cases with Sebi, with multiple adjudication orders and regulatory actions between 2021 and 2022,» said Congress spokesperson Pawan Khera at an official briefing. He said this was in violation of Sebi's code on conflict of interest for members of board. The latest charge comes as part of Congress' renewed efforts to revive the issue involving allegations against the Sebi chief, which appeared to have lost its political steam of late with the matter hardly figuring in the Congress' election campaign discourse in Haryana and J&K polls. With Buch back in headlines last week with her skipping appearance before the Public Accounts Committee (PAC), the Congress has been releasing logs on the allegations against her as part of its bid to revive the issue.

Maharashtra Deputy Chief Minister Ajit Pawar, contesting assembly polls from Baramati, has movable assets worth more than Rs 8.22 crore, while his immovable assets were valued at Rs 37.15 crore, according to an affidavit submitted by him before the Election Commission. The movable assets of Ajit Pawar, who heads the ruling Nationalist Congress Party (NCP), include two cars — Toyota Camry, Honda CRV — a tractor, silver articles, FDs, shares and bonds, among others, as per the affidavit submitted by him along with nomination papers from the seat in Pune district for the November 20 polls. Ajit Pawar (65), seeking an eighth term from his home turf, filed his nomination papers as the NCP candidate on Monday. His spouse Sunetra Pawar, a Rajya Sabha member, owns movable assets worth Rs 14.57 crore, while the value of immovable assets in her name stood at Rs 58.39 crore, according to the document.

Blinkit on Tuesday saw a surge in sales of gold and silver coins along with other items associated with Dhanteras celebrations. Similar to last year, other platforms such as Swiggy Instamart and Zepto are also offering gold and silver coins, as well as puja essentials. Dhanteras, or Dhanatrayodashi, marks the first day of the Diwali festival across several parts of India. It is considered auspicious to buy items made of gold, silver or brass on this day, as such purchases are believed to bring prosperity and success. This year, Dhanteras is being celebrated on October 29. “Dhanteras special: get authentic gold & silver coins delivered in 10 minutes from Blinkit,” chief executive Albinder Dhindsa wrote in a post on microblogging platform X.

Swiggy is increasing its investment in its quick-commerce business, Swiggy Instamart to Rs 1,179 crore, up 20% from Rs 982 crore mentioned in the red herring prospectus filed on Tuesday. The Bengaluru-based company said it plans to invest Rs 755.4 crore to expand its dark store network, with an additional Rs 423.3 crore for lease and licensing payments for these stores or warehouses. Swiggy Instamart has around 557 dark stores as of June 30 and plans to now take it to 741 compared to earlier plan of 538 per the draft red herring prospectus in September.

Subscribe to enjoy similar stories. Mumbai: A combination of regulatory tightening and nervousness due to the recent pullback in equities has dragged down turnover in the cash market and the number of trades on NSE to a six-month low, per market veterans. The average daily turnover on NSE, which commands a 94% market share, declined almost 12% sequentially to ₹1.07 trillion in the month through 28 October from the previous month.

Worli assembly constituency as Rajya Sabha member Milind Deora belonging to the ruling Shiv Sena on Tuesday filed his nomination and will take on sitting MLA Aaditya Thackeray of the Shiv Sena (UBT). Deora, a former Congress leader and Union minister of state, joined the Sena before the Lok Sabha polls this year and was subsequently elected to the Rajya Sabha.

Mumbai: Spreads in the bond market have tightened significantly, with AAA-rated companies raising funds at some of the lowest rates seen in recent years, underscoring the demand for quality debt issues in an environment where yields are expected to soften after the latest change in the RBI’s monetary policy stance. Yields on a 10-year AAA corporate bond are now below 7.20%, while the 10-year government security (G-sec) yields 6.82% on a semi-annual basis, or 6.94% annualised.

artificial intelligence (AI) revolution – this was Nvidia founder and chief executiveJensen Huang’s clarion call to India Inc at ET Conversations in Mumbai last Friday. The Indian market is currently dominated by Amazon Web Services (AWS), Microsoft Azure and Google Cloud. But are there any domestic players that are equipped to take on the three global hyperscalers? There are local alternatives, such as E2E, according to Pratik Desai, founder of agricultural AI startup Kissan AI – which uses Azure as the primary cloud provider and AWS as a secondary cloud provider – but they are catching up in terms of cost and integrated services.

flights per week flight movements this winter despite rising travel demand. Chhatrapati Shivaji Maharaj International Airport (CSMIA) is all set to provide an extensive network of travel options for its passengers with 3,372 weekly flights--2,361 weekly domestic and 1,011 weekly international flights-- for the winter schedule 2024, the private airport operator said. Significantly, as per the winter schedule for the Indian Airlines announced by the Directorate General of Civil Aviation (DGCA) earlier this month, the Indian airlines will operate 25,007 flights every week to and from 124 airports, which is 5.37 per cent more compared to the winter schedule of 2023. The winter schedule this year started from October 27, 2024 and will continue till March 29, 2025.